Home Lending and Equity Rates

All Conventional Rates are quoted for a 45 day lock. Construction rates are quoted for a 60 day lock. Longer lock periods may be available. Payments do not include amounts for taxes and any insurance premiums or any homeowners’ association dues. Your actual payment obligation will be greater.

All Rates quoted are based on loans with a 40% down payment for single family dwellings as a primary residence. Portfolio rates are based on a maximum loan amount of $726,200. Jumbo rates are based on a loan amount greater than $726,201. To qualify for rates quoted a minimum credit score of 740 and other underwriting requirements must be met.

Portfolio, Jumbo and Construction Loans: Maximum loan to value calculations vary based on property type and occupancy status. Rates may vary due to property or loan characteristics.

 Programs include escrows for taxes and insurance. To waive escrows for taxes on first lien Mortgages, a fee of .25% of the loan amount will be charged. This fee is not applicable to land, construction and equity products.

• APR = Annual Percentage Rate. The APR is a calculation designed to make it easier to compare loan estimates from different lenders, incorporating the different points and fees charged by the lenders as well as the stated interest rate.
• APRs on quoted Retained and Portfolio loans reflect the quoted interest rate and points as well as a $475 document prep fee, $20 flood certification fee, $275 Underwriting Fee, $625.00 Settlement Fee, $166 appraisal management fee, $25 closing protection letter, and $90 tax related service fee.
• Construction loans include a one (1)% construction fee on the first $500,000 of construction funds and then 1/2% fee on the amount above $500,000, for a 12 month construction period.  Loans where the borrower acts as the general contractor (Self-Builds) will have a two (2)% construction fee schedule for a 12 month construction period.  Longer construction periods may be available.
• APRs on quoted construction loans include the quoted interest rate and points as well as a one 1% construction fee, $475 document prep fee, $20 flood certification fee, $90 tax related service fee, $275 underwriting fee, $750 Settlement Fee, $166 appraisal management fee, $25 closing protection letter, $250 plot plan fee and $200 Final Inspection Fee.  

Payments do not include amounts for taxes and any insurance premiums or any homeowners’ association dues. Your actual payment obligation will be greater. Monthly Payments are calculated using a $250,000 loan amount and the term quoted.

 Programs include escrows for taxes and insurance. To waive escrows for taxes on first lien Mortgages, a fee of .25% of the loan amount will be charged. This fee is not applicable to land, construction and equity products.

• APR = Annual Percentage Rate. ARM = Adjustable Rate Mortgage; APR may increase after consummation.
• For Adjustable rates, fully indexed rate is the Secured Overnight Financing Rate (SOFR) plus the Maximum loan to value calculations vary based on property type and occupancy status. All APRs assume 20% down payment.
• Construction loans include a 1% construction fee on the first $500,000 of construction funds and then 1/2% on the amount above $500,000, for a 12 month construction period.  Loans where the borrower acts as the general contractor (Self-Builds) will have a two (2)% construction fee schedule for a 12 month construction period. 
• Interest rate on ARM loans may increase as much as 2% per annual adjustment period and a maximum of 6% from the initial rate over the lifetime of the loan. The interest rate on ARM loans may increase after the initial fixed rate period following closing.
• APRs for land loans reflect the quoted interest rate and points as well as a $475 document prep fee, $20 flood certification fee $90 tax related service fee and $275 underwriting fee, $750 settlement fee, $166 appraisal management fee and $25 closing protection letter. 
• APRs on quoted construction loans include a 1% construction fee, $475 document prep fee, $20 flood certification fee, $90 tax related service fee, $275 underwriting fee, $750 settlement fee, $166 appraisal management fee, $25 closing protection letter, $250 plot plan fee and $200 Final Inspection Fee.

*For Home Equity Line of Credit, the interest rate and APR will be 6.240% for the first 12 months. After the first twelve months the rate will be adjusted monthly to the Wall Street Journal Prime Rate during the remaining advance period and is subject to change at any time. After the first twelve months, the interest rate will not go below 3.990% or above 18.00%. Based on these terms, and WSJ Prime = 7.750%, the variable APR would be 7.750% after the first 12 months. Rates are quoted based on property being owner occupied or a second home with 80% CLTV and a credit score of 680.