Bimonthly Mortgage A Bimonthly Mortgage has payments twice a month. The borrower pays half the monthly payment on the first day of the month, and the other half on the 15th. Bimonthly payments allow you to pay off the loan with a smaller over-all interest payment due to frequent principal balance reductions.
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First Mortgage (Refinance and Purchase) Conforming Loan Limits: Effective January 1, 2006
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Single Family Residence
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Two Family Residence
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Three Family Residence
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Four Family Residence
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$417,000
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$533,850
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$645,300
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$801,950
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Mortgage Loan Limits are 50% higher in Alaska, Hawaii, Guam, and the U.S. Virgin Islands are 50 percent higher than the mortgage limits for the rest of the country.
Second Mortgage (HELOC, Second Trust Deed):
$208,500
$312,750 in Alaska, Hawaii, Guam, and the U.S. Virgin Islands
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FHA mortgage loan limts by County:
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County
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Single Family
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2 Units
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3 Units
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4 Units
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BRISTOL
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$316,350
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$359,397
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$359,397
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$434,391
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KENT
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$316,350
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$359,397
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$359,397
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$434,391
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NEWPORT
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$316,350
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$359,397
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$359,397
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$434,391
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PROVIDENCE
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$316,350
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$359,397
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$359,397
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$434,391
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WASHINGTON
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$316,350
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$359,397
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$359,397
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$434,391
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