All rates are subject to change without prior notification. Contact us for current rates, fees and other terms that may apply to our accounts at 800.322.2709 or 214.880.0141.
Please contact us at 1.888.876.2328 for information on other mortgage loans not advertised.
Monthly payment amounts vary by loan term and rate. For example, a fixed rate mortgage amount of $200,000 for 30 years at an APR of 4.00% would yield a payment of $954.83. For a 7/1 ARM the minimum payment is $912.10 over 84 months at 3.686% APR after which your loan will be $1,005.21 over 12 months 4.724% APR.
Rates and/or points are subject to change at any time until you apply for a loan and “lock-in” a rate. Your actual rate and/or points may be different, as many factors go into providing you with a mortgage loan. Rates and points vary widely for loan amounts above $484,350** (see below), and/or for investment property loans.
**Jumbo rates are for loan amounts exceeding $484,350 ($726,525 in Alaska, Hawaii, Guam and the U.S. Virgin Islands). For properties in New York, add .250 loan origination fee.
Each quote above represents a “lock-in” period of 30 days, meaning that if you applied for a loan today and choose to “lock-in.” We will guarantee the rate and points for 30 days.
Each quote based on a purchase money mortgage with a minimum loan amount of $100,000 (except Jumbo loans). Mortgage rates assume a 75% Loan–To-Value on an owner occupied property.
Taxes and insurance not included, therefore the actual payment obligation will be greater. Your actual rate may be higher depending upon your creditworthiness.
INTEREST RATE ADJUSTMENTS. Your interest rate under an ARM can change after 84 months and every 12 months thereafter. Your interest rate cannot increase or decrease more than 2.00 percentage points at first adjustment and 2.00 percentage points per subsequent adjustment from the initial interest rate, excluding any buydown. Your interest rate will never be greater than 6.00 percentage points above the initial interest rate.
HOW YOUR PAYMENTS ARE DETERMINED. Your initial monthly payment of principal and interest will be determined based on the interest rate, loan term, and balance when your loan is closed. If your interest rate changes, your payment will be adjusted to fully amortize the loan by the end of the loan term.
Frequency of Payment Changes. Based on increases or decreases in the index, payment amounts under this ARM loan can increase or decrease substantially after 84 months and every 12 months thereafter. However, your monthly payment amount could change more frequently if there is a change in the taxes, assessments, insurance premiums, or other charges required to be made into an escrow or impound account.
Adjustment Notices. You will be notified at least annually if interest rate changes occur. When an interest rate change will also involve a change in your monthly payment, you will be notified in writing (at least 25 calendar days, but not more than 120 calendar days) before the payment at the new level is due. The notice will indicate the adjusted payment amount, interest rate, Index value, and the outstanding loan balance at the time.