Maximum loan amount: $417,000
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Maximum loan to value ratio:
- 90%
- 80.01% up to 90% - add .125% to the posted fixed rate
- 80.01% up to 90% (No cash): add .125% to the posted fixed rate
- 80.01% up to 90% (With Cash): add .875 to the posted fixed rate
- 70.01% up to 80% (With Cash): add .50% to the posted fixed rate
- 70% (With Cash)
- Purchase
- Refinance
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Term:
- 15-30 years
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Closing Costs:
- Estimated at 3% of the amount you borrow for attorney fees, title insurance, mortgage, recording fees
- .25% commitment fee.
- We will require funding of an escrow account for the payment of Real Estate Taxes, Homeowners insurance, Flood Insurance (if applicable), and Private Mortgage Insurance (if applicable).
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Rate Lock-Ins:
- Closing rate is set 48 hours prior to closing if a lock-in has not been selected
- 30 day rate lock: ½ point, non refundable fee
- 60 day rate lock: 1 point, non-refundable fee
- 90 day rate lock: 1 ½ points, non-refundable fee
