Mortgage Rate Assumptions

  • Rates shown assume a purchase or rate term refinance. Rates may be higher for cash out refinance transactions.
  • Annual Percentage Rate (APR) calculations assume a purchase transaction for a single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than 75%; a minimum FICO score of 740; and a loan amount of $250,000 for conforming loans or a $550,000 for jumbo loans, unless otherwise specified.
  • Rates may improve for loan amounts between $250,000 and $424,000.
  • Rates are subject to change without notice.
  • Guaranteed rate with a 45 day rate lock.
  • Closing Costs assume the borrower’s monthly insurance payments and property tax are escrowed.
  • Rates are subject to underwriter approval; not all applicants will be approved.
  • Fees and charges apply.
  • Payments do not include insurance or taxes.
  • Rates based on New York property.
  • Mortgage insurance (MI) is not included in the payment quoted. MI will be required for all FHA and VA loans as well as conventional loans where the loan-to-value is greater than 80%.
  • Appraisal fee of $425 for a single family home.
  • Restrictions may apply.

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