*Chart data is for illustrative purposes only and is subject to change without notice. Advertised Annual Percentage Rate (APR) is based on the information provided, your actual APR may differ depending on your credit history and loan characteristics. Accuracy is not guaranteed and products may not be available for your situation. Payments shown here are calculated on the basis of principal and interest only and do not include taxes and home insurance, which will result in higher monthly payments. Unless a borrower is exempt, VA loans have a funding fee that will increase the APR. The funding fee can vary by down payment and purpose of the loan. You should consult a tax professional with regard to the detectability of interest. This is NOT a mortgage loan approval or commitment to lend.
Loan Program
Rate
APR*
Payment P&I
Lender Fees
Actions
*Chart data is for illustrative purposes only and is subject to change without notice. Advertised Annual Percentage Rate (APR) is based on the information provided, your actual APR may differ depending on your credit history and loan characteristics. Accuracy is not guaranteed and products may not be available for your situation. Payments shown here are calculated on the basis of principal and interest only and do not include taxes and home insurance, which will result in higher monthly payments. Unless a borrower is exempt, VA loans have a funding fee that will increase the APR. The funding fee can vary by down payment and purpose of the loan. You should consult a tax professional with regard to the detectability of interest. This is NOT a mortgage loan approval or commitment to lend.
Loan Program
Rate
APR*
Payment P&I
Lender Fees
Actions
*Chart data is for illustrative purposes only and is subject to change without notice. Advertised Annual Percentage Rate (APR) is based on the information provided, your actual APR may differ depending on your credit history and loan characteristics. Accuracy is not guaranteed and products may not be available for your situation. Payments shown here are calculated on the basis of principal and interest only and do not include taxes and home insurance, which will result in higher monthly payments. Unless a borrower is exempt, VA loans have a funding fee that will increase the APR. The funding fee can vary by down payment and purpose of the loan. You should consult a tax professional with regard to the detectability of interest. This is NOT a mortgage loan approval or commitment to lend.
With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of reset. Lifetime rate cap is 5%, yearly adjustment cap is 1%, first year rate cap is 1%. As of 10/5/2016 the initial payment on a 30-year, $200,000.00, 5-year Adjustable-Rate Loan at 3.625% interest and 80% loan-to-value (LTV) is $916.66 with 0 points due at closing. The Annual Percentage Rate (APR) is 2.936%. After the initial 60 payments (5 years) at 3.625% interest with payments of $916.66, the rate and payments may adjust annually to 4.625% (estimated) with payments of $1,017.12 (estimated) for the remainder of the loans term (payments 61 – 360 [years 6-30]). After the initial fixed-rate period based on the initial interest rate and interest rate caps disclosed above, the maximum first adjusted rate for this loan will never be more than 4.625%, with a maximum first payment of $1,017.12. The fully indexed rate for this loan is 8.625%, the maximum principal and interest payment for this loan will not exceed $1,434.46. Payment calculations above do not include taxes and insurance premium, the actual payment amounts will be greater. Rate is variable and subject to change after 5 years.
