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.