Mortgage Rates
15 Year Fixed
|
15 Year (¹) |
4.50% Fixed
|
4.669%
|
| 15/30 |
15 Year term/30 year amortization (¹¹) |
5.00% Fixed
|
5.122% |
| Adjustable 3/3 ARM |
30 Years (¹¹¹) |
3.25% Variable** |
3.534%** |
| Adjustable 5/5 ARM |
30 Years (¹¹¹¹) |
3.50% Variable** |
3.993%** |
Examples of payments:
(¹) A 15-Year fixed-rate loan for $100,000 with a rate of 4.50% would be repaid in 180 payments (principal and interest) of $765 each.
(¹¹) A 15/30 loan has a fixed rate for 15 Years. Payments are amortized over 360 months with a balloon payment at the end of 180 months. A loan for $100,000 with a rate of 5.00% would be repaid in 179 monthly payments (principal and interest) of $537 and a final payment of $68,421.11 which may be considered for refinancing with Achieva at market rates in effect at that time for a fee of $250.
(¹¹¹) A 3/3 adjustable rate mortgage for $100,000 with an introductory rate of 3.25% would be repaid for the first 36 months in payments (principal and interest) of $478 each. (APR after the 36 month introductory period will be variable and may be subject to increase)
(¹¹¹¹) A 5/5 adjustable rate mortgage for $100,000 with an introductory rate of 3.50% would be repaid for the first 60 months in payments (principal and interest) of $492 each. (APR after the 60 month introductory period will be variable and may be subject to increase)
NOTE: Based on $100,000 loan the closing costs range from $3,600 to $4,100.
*APR is Annual Percentage Rate. Your qualifying rate is based on credit qualification and will be disclosed at final approval notification. Shown APR is currently accurate and is subject to change.
**Variable APRs shown are the best available for the initial fixed rate period of 3 or 5 years only. After the initial fixed-rate period, your variable APR will be based on the movement of the Prime Rate (index) as published in the Wall Street Journal on the 15th day of the month preceding each rate adjustment plus a margin determined by your credit qualification. Your qualifying margin over the index is determined at the time you lock-in your final rate. The variable rate and APR may adjust up or down with a CAP limitation not to exceed 2% for any one change. The maximum increase or decrease in percentage points for the term of the loan is 6%. However, the rate on your loan will never decrease lower than 4% or increase over 16%. A change cannot occur more than once every 36 months for the 3/3 ARM and once every 60 months for the 5/5 ARM. An increase in rate would represent an increase of your monthly payments. Property insurance is required.