Loan assumptions and Disclosures
Interest rates and annual percentage rates (APRs) are based on current market rates, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables—call for details. This is not a credit decision or a commitment to lend. Depending on loan guidelines, mortgage insurance may be required. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Additional loan programs may be available.
APR reflects the effective cost of your loan on a yearly basis, taking into account such items as interest, most closing costs, discount points (also referred to as “points”) and loan-origination fees.
One point is 1% of the mortgage amount (e.g., $1,000 on a $100,000 loan). Your monthly payment is not based on APR, but instead on the interest rate on your Note.
Adjustable-rate mortgage (ARM) rates assume no increase in the financial index after the initial fixed period. ARM rates and monthly payments are subject to increase after the fixed period: ARMs assume 30-year term.
For non-conforming loan amounts up to $1,000,000 and LTV up to 85%, mortgage insurance may not be required. Program not available in AZ, FL, NV, and other select markets. First time homebuyers are ineligible. Excellent credit required. Property type restrictions and other limitations apply. Call for details.
Property type/use: Single family residence/owner occupied
Loan-to-value (LTV): 80%, or as user selected; LTV = ratio of loan amount divided by the purchase price (in actual lending, the appraised home value).
Down payment: 20%, or as user selected
Rate lock period:Purchase: 45 days. Refinance: 60 days. (Actual NY pricing based on different Rate Lock Period. Call for more information and to obtain a rate quote and rate lock specific to your situation. This is not an offer of a rate lock.)
Loan amount: $200,000, or as user selected; the purchase price minus the down payment equals the loan amount.
Discount point(s): As displayed
Lien position: First lien