Conventional Loans
| CONFORMING LOAN LIMITS |
| Single Family |
$417,000 |
| Duplex |
$533,850 |
| Triplex |
$645,300 |
| Four Plex |
$801,950 |
INTEREST ONLY
Loans are amortized for 30 years and have an interest only feature for either 5, 7 or 10 year term. The 5 and 7 year options convert to 1 year adjustable mortgage at the end of the interest only option with 2% annual cap and 5% lifetime cap. The 10 year option converts to a 20 year amortization at the same rate.
SECOND MORTGAGE
A second mortgage may be available for loan amounts or sales price exceeding $417,000 Conforming Loan.
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