Fixed Rate Mortgage

Maximum loan amount: $417,000

Maximum loan to value ratio:
Purchase *
• 95%
• 80.01% - 95%: add .125% to posted fixed rate
Refinance *
• 81% - 95% (No Cash): add .125% to posted fixed rate

* Additional rate adjustments may apply depending on Loan to Value and Credit Scores.

Term:
• 10 - 40 years

Closing Costs:
• Estimated at 3% of the amount you borrow for attorney fees, title insurance, mortgage, recording fees, .25% commitment fee, etc.
• 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).

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

Rate Buy-Downs
• 1 Point = ¼% Rate Reduction
• 2 Points = ½% Rate Reduction