A conforming loan is a mortgage where the underlying terms and conditions conform to the criteria of Fannie Mae and Freddie Mac. In the state of Florida, the maximum conforming loan amount on a single family residence is $417,000, with the exception of Collier County and Monroe County which have limits of $448,500 and $529,000 respectively. Fannie Mae and Freddie Mac are continuously in the market for conforming loans which makes a conforming mortgage more liquid than non-conforming and typically offers a lower interest rate. Criteria include debt-to-income ratio limits and documentation requirements. Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market, making the demand for a conforming loan much greater.