General Disclosures

General Disclosures
  • Information displayed is accurate as of the date of the latest update and is subject to change without notice. Loan pricing can only be locked through a home mortgage consultant. Other restrictions may apply.
  • Due to various federal, state and local requirements, certain products may not be available in all areas.
  • The monthly payment amount displayed includes principal, interest and any required mortgage insurance. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.
  • The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate and approximate cost of prepaid finance charges, including 1% of your loan amount to be applied to the origination charge, but does not include other closing costs or discount points.
  • The approximate cost of prepaid finance charges does not constitute and is not a substitute for the Good Faith Estimate of Closing Costs (GFE) that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
  • Conventional loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate (APR).
  • Mortgage interest rates displayed are for a single-family, primary residence and are based on a rate lock period of 30 days. Under certain circumstances, a 30-day rate lock may not be available.
  • Mortgage rates displayed depend on a number of variables, including the accuracy of the information you have entered, which is subject to verification.
  • These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit profile up to the time of closing. For more information, please contact us.
Adjustable Rate Mortgages (ARMs)
  • Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment. Since the index in the future is unknown, the First Adjusted Payments displayed are based on the current index plus the margin (fully indexed rate) at time of scenario/disclosure.
  • For conforming and jumbo ARM interest rates, at adjustment your new mortgage rate will be the average of the Interbank offered rates for one-year, U.S. dollar-denominated deposits in the London market (LIBOR) as published in the Wall Street Journal, plus a margin of 2.25% subject to annual and lifetime adjustment caps, unless specified differently on your mortgage note.
  • For FHA ARM interest rates, at adjustment your new mortgage rate will be the average weekly yield on Treasury securities adjusted to a constant maturity of one year, plus a margin of 1.75%, subject to annual and lifetime adjustment caps (unless especified differently on your mortgage note).
FHA
  • FHA loans require both an upfront and an annual mortgage insurance premium. The premium varies based on the loan characteristics, your credit score, amount of down payment, and other factors. For illustrative purposes on FHA loans, our loan detail results DO NOT include a mortgage insurance payment. For more information, please contact us.

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