* These rate estimates are for informational purposes only. Products, rates, and terms are subject to change without notice. These results are not a commitment to lend. To apply for a loan, you’ll need to submit a complete application and provide additional supporting information. Final approval of your loan is based on verification of your application and all documentation submitted and meeting the necessary underwriting criteria and property approval. The estimates for fees and other charges are not intended to be accurate until you have chosen a property and settlement service providers. All rates and fees are estimates until you have received an approval, a loan product has been selected, and the rate has been locked. Your final rate, loan product, and terms may be different. Normal credit qualifications and other terms and conditions apply. Not all applicants will qualify.
Estimated payment does not include taxes and insurance premiums. The actual monthly payment amount will be greater.
The interest rates shown above assume you will have an escrow account wherein additional amounts will be collected monthly to pay property taxes and insurance. If your requested Loan-to-Value is < 80% (90% for primary residences in California only) and you wish to opt out of having your property taxes and insurance collected monthly in an escrow account, please notify your loan officer. Please note that your interest rate will likely increase from the estimated above if you opt out. This waiver is not permitted on loans classified as Higher Priced Mortgage Loans (HPMLs).
APR reflects closing 5 days before the end of the month and assume $825 in third-party APR fees.
PMI means Private Mortgage Insurance. Learn more about Private Mortgage Insurance here
** ARM DISCLOSURE: With an adjustable rate mortgage (ARM), your loan will have an initial fixed-rate period of 5 or 7 years. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of reset. Your payment will be based on the current Index plus a margin. After the initial 5/7 years, your principal and interest payment will change based on the fully indexed rate applicable at the time (Index plus the Margin, not to exceed a Rate Cap. The 1-Year LIBOR Index used for all ARM Products. The applicable margin ad rate caps may vary based on your loan amount, down payment, or the final loan product you select). Your payment can be changed based on this formula once a year for the remaining 25/23 years of the loan. Payment estimate does not include taxes and insurance premiums. The actual payment amount will be greater.