Click on the appropriate letter to see listing:
J
Jumbo Loan
Also known as a non-conforming loan, a Jumbo Loan is typically a home loan amount larger than the conforming loan limit, and may require a higher interest rate.
L
Lender Origination Fee
The lender may charge an origination fee. The typical origination fee is one point, or one percent of the loan amount.
Lock-In
Also known as a rate lock, a lock-in is a set period of time that a lender will guarantee an interest rate and discount points required to obtain that rate. This lock-in protects you against market increases from the time you lock in your interest rate until you close as long as your loan closes according to the terms of your rate lock agreement. The lock-in period is typically between 15-60 days, and you must close within the lock period at the terms specified to receive the locked interest rate.
Adapted from the U.S. Department of Housing and Urban Development.
