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Conventional Loans


LockCreek Lending has a variety of conventional loan programs available with features, terms and benefits to meet our customers' specific needs.

Features (may vary by location):

 

  • The baseline, non-high-cost conforming loan limits for 2015 are :
    • One family dwelling $417,000
    • Two family dwelling $533,850
    • Three family dwelling $645,300
    • Four family dwelling $801,950
  • High-cost conforming loan limits range up to:
    • One family dwelling $625,500
    • Two family dwelling $800,775
    • Three family dwelling $967,950
    • Four family dwelling $1,202,925

Terms:
  • 30-year fixed rate
    • Monthly principal and interest payment never changes
    • Safety and security in knowing what your payment will be in the future
  • 15 year fixed rate
    • Monthly principal and interest payment never changes
    • Safety and security in knowing what your payment will be in the future
    • Loan will be paid off in half the time as a 30 year fixed rate loan
    • While the monthly payment is higher than a 30 year fixed rate loan, the interest rate is typically less