Maximum loan amount: $417,000
-
Maximum loan to value ratio:
- Purchase - 95%*
- Limited Cash Out Refinance - 90%
- - add .25% to posted rate
- Cash Out Refinance - 80%**
Additional rate adjustments may apply depending on Loan to Value and Credit Scores.
-
Property Eligibility:
- One (1) unit owner occupied primary single family residence, including condos and PUDs; No Cooperatives.
-
Term:
- 30 years
- 10 Year interest only/ 20 Year amortization
- 15 Year interest only/ 15 Year amortization
-
Closing Costs:
- - Estimated at 3% of the amount you borrow for attorney fees, title insurance, mortgage, recording fees etc.
- .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).
-
Rate Lock-Ins:
- Closing rate is set 8 business days 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
- ALL RATES AND TERMS ARE SUBJECT TO CHANGE WITHOUT NOTICE.
