Rate Assumptions

All purchase and refinance rates displayed are based on the following assumptions:

PURCHASE RATES

  • Rates shown assume a purchase transaction
  • Assumes a loan amount of $320,000 with 20% down payment ($80,000):
    • 30 year rate is based on 360 payments of $1742.36 per month for principal and interest only
    • 20 year rate is based on 240 payments of $2089.82 per month for principal and interest only
    • 15 year rate is based on 180 payments of $2468.47 per month for principal and interest only
    • 10 year rate is based on 120 payments of $3335.74 per month for principal and interest only
  • Minimum FICO score of 740
  • Rate assumes a 30 day rate lock period
  • Rates based on Texas property
  • Rates are subject to change without notice
  • Closing Costs assume that borrower will escrow monthly property tax and insurance payments
  • Subject to underwriter approval; not all applicants will be approved
  • Rates are subject to change without notice
  • Annual Percentage Rate (APR) calculations assume:
    • Purchase transaction of a single-family, detached, owner-occupied primary residence;
    • Loan-to-value ratio of less than or equal to 80%;
    • Minimum FICO score of 740;
    • Loan amount of $320,000 for conforming loans or $500,000 for jumbo loans, unless otherwise specified
  • Payments do not include taxes and insurance
  • Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and VA loans as well as conventional loans where the loan to value is greater than 80%
  • Fees and charges apply included but not limited to the following:
    • Lender Fee $995
    • Appraisal Fee $595
    • Title Services Fees $500
  • Restrictions may apply

REFINANCE RATES

  • Rates shown assume a refinance transaction with no cash-out
  • Assumes a loan amount of $320,000 with 20% down payment ($80,000):
    • 30 year rate is based on 360 payments of $1742.36 per month for principal and interest only
    • 20 year rate is based on 240 payments of $2089.82 per month for principal and interest only
    • 15 year rate is based on 180 payments of $2468.47 per month for principal and interest only
    • 10 year rate is based on 120 payments of $3335.74 per month for principal and interest only
  • Minimum FICO score of 740
  • No cash-out transaction
  • Rate assumes a 30 day rate lock period
  • Rates based on Texas property
  • Closing Costs assume that borrower will escrow monthly property tax and insurance payments
  • Subject to underwriter approval; not all applicants will be approved
  • Rates are subject to change without notice
  • Annual Percentage Rate (APR) calculations assume:
    • Refinance transaction of a single-family, detached, owner-occupied primary residence;
    • Loan-to-value ratio of less than or equal to 80%;
    • Minimum FICO score of 740;
    • Loan amount of $320,000 for conforming loans or $500,000 for jumbo loans, unless otherwise specified
  • Payments do not include taxes and insurance
  • Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and VA loans as well as conventional loans where the loan to value is greater than 80%
  • Fees and charges apply included but not limited to the following:
    • Lender Fee $995
    • Appraisal Fee $595
    • Title Services Fees $500
  • Restrictions may apply

If you have any questions about these rate assumptions or would like to obtain a personalized quote please contact us.