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* 3.0% Mortgage: The advertised loan of 3.0% (3.345% APR) is a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term. After the initial period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index (.85% as of February 18, 2010) plus a margin of 2.25%. The maximum periodic change in the interest rate is 2% with a maximum rate increase of 6% above the initial interest rate. There is no prepayment penalty. The Annual Percentage Rate (APR) is variable and is subject to increase or decrease, so your payments may increase or decrease each year. The rate quoted assumes a FICO score of 720 with a maximum loan-to-value ratio of 80% on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property and other factors. The initial interest rate is fixed for 5 years. The disclosed APR is based on 1 discount point, 1% origination fee and $500 in additional prepaid finance charges due at closing. Not available in all states. Rates are subject to change daily without notice. Payment amounts shown do not include taxes or insurance.
Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at 4.25% and 80% loan-to-value (LTV) is $1504.56 with 1.875 points due at closing. The Annual Percentage Rate (APR) is 4.622%. Some state and county maximum loan amount restrictions may apply.
FHA Express: Rate is fixed. The payment on a $203,000, 30-year fixed rate loan at 5.00% and 80% loan-to-value (LTV) is $1174.33 with 0.625 Points due at closing. Payment includes a one time upfront mortgage insurance premium (MIP) at 1.75% of the base loan amount and a monthly MIP calculated at 0.50% of the base loan amount. The 0.50% monthly MIP will be paid until the loan reaches 78% LTV, provided the MIP has been paid for a minimum of 5 years. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments only until the end of the loan. Some state and county maximum loan amount restrictions may apply. The Annual Percentage Rate (APR) is 5.106%.
** The monthly payment schedule is for qualified borrowers for an owner-occupied, one-unit, single family house for a loan of $100,000, $150,000, $200,000, $300,000 or $500,000 with a interest only monthly payment of $349, $524, $699, $1,048 or $1,747. This monthly payment is based on an introductory adjustable rate mortgage that is fixed for the first 60 months then is subject to increase no more than 1% every 6 months thereafter (until rate has caught up to fully indexed rate). To be eligible for this program borrower must meet applicable credit requirements, including a FICO score of at least 620. MortgageJoint.com is not acting as a lender or broker. The information provided by you to MortgageJoint.com is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher, depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and other factors. Not available in all states. Not available for all credit types.