Mortgage Loan Basics: Interest Only Loans, Pay Option ARM

To understand loans and mortgages we need to understand loan limits first. If your loan amount exceeds the amount below, you will qualify for a Jumbo Loan, which carries higher interest rate. One-Family (single family homes) $417,000 Two-Family(duplex) $533,850 Three-Family (triplex) $645,300 Four-Family(fourplex) $801,950 FIXED Loans: 30 Year Fixed Mortgage Rates This loan program is […]