Learn about Loan Programs:
Loan payment: Each loan payment consists of Principal and interest. The principal is the amount borrowed. It is also the part of the monthly payment that reduces the outstanding balance. The interest is the fee charged for borrowing money.
Loan limits are important in mortgage lending. If your loan amount exceeds the amount below, you will qualify for a Jumbo Loan, which carries higher interest rate.
| Property |
2006 |
| One-Family (single family homes) |
$417,000 |
| Two-Family(duplex) |
$533,850 |
| Three-Family (triplex) |
$645,300 |
| Four-Family(fourplex) |
$801,950 |
|
