Mortgages
| Fixed Rate Products |
|
Type of Mortgage
|
Interest Rate
|
Points
|
APR
|
 Conventional 30 Year Fixed
(360 monthly payments) |
4.000% |
2.00 |
4.202% |
| 4.250% |
1.00 |
4.369% |
| 4.500% |
0.00 |
4.534% |
| Example: A 30-year fixed rate mortgage with 2 points; the rate would be 4.000% of $125,000 with 20% down payment, the amount financed would be $100,000 with 360 monthly payments of approximately $477.42 (principal and interest), a finance charge of $74,600.30 bringing the total payment to $171,868.00. |
| Conventional 30 Year Bi-Weekly |
4.250% |
2.00 |
4.483% |
| 4.500% |
1.00 |
4.638% |
| 4.750% |
0.00 |
4.791% |
| Example: A 30-year bi-weekly mortgage with 2 points; the rate would be 4.250% with 20% down payment, the amount financed would be $100,000 with 633 bi-weekly payments of approximately $245.97 (principal and interest), a finance charge of $66,556.81 the total payment to $164,134.53. |
Conventional 15 Year Fixed
(180 monthly payments) |
3.375% |
2.00 |
3.681% |
| 3.625% |
1.00 |
3.785% |
| 3.875% |
0.00 |
3.890% |
| Example: A 15-year fixed rate mortgage with 2 points; the rate would be 3.375% Based on a purchase price of $125,000 with 20% down payment, the amount financed would be $100,000 with 180 monthly payments of approximately $708.76 (principal and interest), a finance charge of $29,957.11 bringing the total payment to $127,576.71. |
| Conventional 15 Year Bi-Weekly |
3.625% |
2.00 |
3.691% |
| 3.875% |
1.00 |
3.942% |
| 4.125% |
0.00 |
4.193% |
| Example: A 15-year bi-weekly mortgage with 2 points; the rate would be 3.625%. Based on a purchase of $125,000 with 20% down payment, the amount financed would be $100,000 with 344 bi-weekly payments of approximately $360.52(principal and interest), a finance charge of $26,838.21bringing the total payment to $126,419.35. |
APR equals Annual Percentage Rate
| Variable Rate Products |
|
Type of Mortgage
|
Interest Rate
|
Points
|
APR
|
1 Year ARM (Conforming)
(360 monthly payments) |
2.625% |
2.00 |
3.278% |
| 2.875% |
1.00 |
3.217% |
| 3.125% |
0.00 |
3.157% |
| Example: A 1 year Adjustable Rate Mortgage with 2 points; the rate would be 2.625%. Based on a purchase of $125,000 with 20% down payment, the amount financed would be $100,000 with 360 month payments of approximately $401.65 (principal and interest), a finance charge of $56,024.89 bringing the total payment to $153,625.89. |
3 Year ARM (Conforming)
(360 monthly payments) |
3.750% |
2.00 |
3.685% |
| 4.000% |
1.00 |
3.742% |
| 4.250% |
0.00 |
3.798% |
| Example: A 3 year Adjustable Rate Mortgage with 2 points; the rate would be 3.750%. Based on a purchase of $125,000 with 20% down payment, the amount financed would be $100,000 with 360 month payments of approximately $463.12 (principal and interest), a finance charge of $65,007.74 bringing the total payment to $164,614.74. |
5 Year ARM (Conforming)
(180 monthly payments) |
4.000% |
2.00 |
4.352% |
| 4.250% |
1.00 |
4.442% |
| 4.500% |
0.00 |
4.534% |
| Example: A 5 year Adjustable Rate Mortgage with 2 points: the rate would be 4.000%. Based on a purchase of $125,000 with 20% down payment, the amount financed would be $100,000 with 360 month payments of approximately $477.42 (principal and interest), a finance charge of $79,859.72 bringing the total payment to $179,466.72. |
APR equals Annual Percentage Rate
ARM equals Adjustable Rate Mortgage
Effective date 07/30/2010 - Prices are subject to change daily.
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