The Annual Percentage Rate (APR) Assumes:

15-Year Example:
The 15 year fixed rate of 4.500% (5.044% Annual Percentage Rate) is based on a loan amount of $200,000 and includes 1 origination and 2 discount points, as well as approximately $2,400 in closing costs. Based on this scenario, the principal and interest payment (actual payment obligation will be higher when taxes and insurance are added in) will be approximately $1,540. Payments are fixed over a 15 year term.

30-Year Example:
The 30 year fixed rate of 4.875% (5.192% Annual Percentage Rate) includes 1 origination and 2 discount points, as well as approximately $2,500 in closing costs. Based on this scenario, the principal and interest payment (actual payment obligation will be higher when taxes and insurance are added in) will be approximately $1,065.Payments are fixed over a 30 year term.

The following criteria pertain to both the 15 and 30 year examples:

• Borrower must have a minimum 620 credit score and no late mortgage payments in the last 12 months. In addition the borrower must be current on their current payment to qualify.
• No downpayment is required.
• Rates will not increase after closing.
• Rates are fixed over the life of the loan.
• Applicable to all 50 states.
• Rates are subject to change.  Any change in terms will be fully disclosed and the new interest rate and annual percentage rate will be disclosed.