| Program | Rate | Points | Payment* | APR |
|---|---|---|---|---|
| 30 Year Fixed Rate | 6.375% | 0 | $767.55 | 6.39% |
| 15 Year Fixed Rate | 6.000% | 0 | $801.86 | 6.09% |
*The monthly payment for principal and interest is calculated per $100,000 borrowed. These rates are determined based on a 30-day lock for owner-occupant 1st mortgage loans with a 20% down payment. It’s important to note that this payment does not cover property taxes or insurance. Your specific rate and points may vary depending on factors like the timing of your rate lock, occupancy status, loan purpose, loan amount, credit score, and loan-to-value ratio. Rates and terms are subject to possible changes or cancellation without prior notice.
| Fixed Term | Fixed Rate | APR |
|---|---|---|
| 20 year | 6.375% | 6.75% |
| 30 year | 6.5% | 6.78% |
*The monthly payment for principal and interest is calculated per $100,000 borrowed. These rates are determined based on a 30-day lock for owner-occupant 1st mortgage loans with a 20% down payment. It’s important to note that this payment does not cover property taxes or insurance. Your specific rate and points may vary depending on factors like the timing of your rate lock, occupancy status, loan purpose, loan amount, credit score, and loan-to-value ratio. Rates and terms are subject to possible changes or cancellation without prior notice.
| Fixed VA Loan Term | Fixed Interest Rate | APR |
|---|---|---|
| 20 Year | 6.125% | 6.32% |
| 30 Year | 6.25% | 6.380% |
*The monthly payment for principal and interest is calculated per $100,000 borrowed. These rates are determined based on a 30-day lock for owner-occupant 1st mortgage loans with a 20% down payment. It’s important to note that this payment does not cover property taxes or insurance. Your specific rate and points may vary depending on factors like the timing of your rate lock, occupancy status, loan purpose, loan amount, credit score, and loan-to-value ratio. Rates and terms are subject to possible changes or cancellation without prior notice.
| Fixed Term | Fixed Rate (APR‡) | APR |
|---|---|---|
| 30 Year | 7.00% | 7.92% |
| 5/25 ARM | 6.25% | 6.87% |
*The monthly payment for principal and interest is calculated per $100,000 borrowed. These rates are determined based on a 30-day lock for owner-occupant 1st mortgage loans with a 20% down payment. It’s important to note that this payment does not cover property taxes or insurance. Your specific rate and points may vary depending on factors like the timing of your rate lock, occupancy status, loan purpose, loan amount, credit score, and loan-to-value ratio. Rates and terms are subject to possible changes or cancellation without prior notice.
| 30 Year Fixed Term | Fixed Rate | APR |
|---|---|---|
| 24 Month Bank Statement Investor | 7.5% | 7.95% |
| 12 Month Bank Statement Investor | 7.75% | 8.11% | DSCR Investor | 7.5% | 7.95% |
*The monthly payment for principal and interest is calculated per $100,000 borrowed. These rates are determined based on a 30-day lock for owner-occupant 1st mortgage loans with a 20% down payment. It’s important to note that this payment does not cover property taxes or insurance. Your specific rate and points may vary depending on factors like the timing of your rate lock, occupancy status, loan purpose, loan amount, credit score, and loan-to-value ratio. Rates and terms are subject to possible changes or cancellation without prior notice.
A low mortgage rate holds several significant advantages:
Lower Monthly Payments: A lower interest rate results in lower monthly mortgage payments, which can make homeownership more affordable and improve your monthly cash flow.
Savings Over the Loan Term: With a lower rate, you pay less interest over the life of the loan. This can lead to substantial savings, especially on long-term loans like a 30-year mortgage.
Affordability and Purchasing Power: Lower rates increase your purchasing power. With lower monthly payments, you may qualify for a larger loan amount, enabling you to buy a more expensive home or to have more options within your budget.
Stability and Predictability: Fixed-rate mortgages with low rates provide stability and predictability. Your monthly payment remains constant, making budgeting easier and protecting you from unexpected increases in housing costs.
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