VA Payment Example
If you bought a $545,000 home with a 30 year loan at a fixed rate of 4.49% (4.65% Annual Percentage Rate), with a down payment of 0%, for a loan amount of $545,000 you would make 360 monthly payments of $2,758. If you bought a $545,000 home with a 30 year loan at a fixed rate of 4.875% (5.472% Annual Percentage Rate), with a down payment of 0%, for a loan amount of $545,000 you would make 360 monthly payments of $2,886. Credit does not include VA funding fee. VA funding fee, if applicable, is financed into the new loan. Payment stated does not include mortgage insurance, taxes and homeowners insurance, which will result in a higher payment.
FHA Payment Example
If you bought a $545,000 home with a 30 year loan at a fixed rate of 4.875% (5.472% Annual Percentage Rate), with a down payment of 3.5%, for a loan amount of $525,925 (includes upfront mortgage insurance premium) you would make 360 monthly payments of $2,785. Payment stated does not include mortgage insurance, taxes and homeowners insurance, which will result in a higher payment. Rates based on 660 Fico score.
If you bought a $545,000 home and put 5% down, for a loan amount of $517,750, with a 30 year term at a fixed rate of 4.75% (Annual Percentage Rate 4.784%), you would make 360 payments of $2,701. Payment stated does not include mortgage insurance, taxes and homeowners insurance, which will result in a higher payment.
Rate provided 8.13.26 by Reed Hazard, CMG Mortgage 10/6 ARM. Stated rate may change or may not be available at time of rate lock. Example: Purchase Price $545,000, 25% Down Payment, $408,750 Loan Amount, 30-year term, initial interest rate 3.5% (4.841% APR) for initial 120 payments of $1,835.
Post Introductory Period Example
Interest Rate = SOFR + Margin. Payment can adjust every 6 months. Sample Repayments at month 120 with balance of $316,482: 3% Margin, 3.636% SOFR (8.13.26), 6.636% variable rate, $2,030 monthly payment. At max interest rate of 8.5% payment is $2,433. Rates based on 780 FICO score.
10/6 ARM Disclaimer Language for Exclusive Rate
Post Introductory Period Example
Interest Rate = SOFR + Margin. Payment can adjust every 6 months. Sample Repayments at month 120 with balance of $322,211: 3% Margin, 3.636% SOFR (8.13.26), 6.636% variable rate, $2,066 monthly payment. At max interest rate of 8.75% payment is $2,535. Rates based on 780 FICO score.