Insider Select Rates Assumptions

Mortgage Position:
Conforming First Mortgage only (No Subordinate Financing)
Type:
Conforming to FNMA
Conforming Loan Amount:
Minimum Loan Amount $200,000.00 for Insider Select Rates. See below for other program loan limits.
Loan-to-Value Ratio:
80% or less (loan amount divided by lesser of property value or purchase price) Adjust to rate for CLTV up to 100% on select programs. See below for other program limits.
Property Type:
Primary, Single Family Residence
Loan Use:
Home Purchase or Refinance
Income Documentation:
Full Documentation
Lender Fees:
Call a Licensed Loan Representative for more information
Credit Grade:
"Best Available" Credit Scores above 740.
Term:
15 Year Fixed and 30 Year Fixed Mortgage Term. See below *for 5/1 Arm. (Insider Rates available for 20 & 10 Year Fixed also. Call for Rates.)
Assumptions:
*See below for assumptions for rate quotes and programs listed.

 

Other FP Mortgage Programs

Call a Licensed Loan Representative for Rates
Types:
FHA,VA, USDA Rural Housing, FNMA, Freddie Mac, Utah Housing
Mortgage Position:
First Mortgage (Subordinate Financing allowed up to 100%)
Conforming Loan Amount:
Minimum Loan Amount $50,000.00.
FHA Loan Amount:
Up to $729,250.00 (May be less, varies by County)
VA Loan Amount:
Up to $729,250.00 (includes any financed funding fee; May be less, varies by County)
Jumbo Loan Amount:
Over $729,250.00 *Call Licensed Loan Representative For Preferred Rates
Loan-to-Value Ratio:
Varies on Loan approval up to 100% on refinances and 106% purchases depending on loan program (loan amount divided by lesser of property value or purchase price)
Property Type:
Primary, Single Family Residence, Second Home, Condos, 2-4 Unit, Investment Properties allowed upon approval
Loan Use:
Home Purchase, Refinance or Home Improvement
Income Documentation:
Full Documentation and Streamlined Available upon approval
Loan Origination:
Call Licensed Loan Representative for more information
Discount Points:
Call Licensed Loan Representative for pricing information.
Pre-Payment Penalty:
None
Credit Grade:
Varies Based on Mortgage Programs
Mortgage Terms
30 Year Fixed, 20 Year Fixed, 15 Year Fixed, 10 Year Fixed, 5/1 Arm, 3/1 Arm.

If the Program that you are looking for does not meet the above criteria, it is likely that we can fulfill your financing needs; however, any deviance from the above listed assumptions could result in different interest rates or fees for the Insider Select Program. Rates are subject to change without notice. Subject to underwriter approval. Not all applicants will be approved.

*FPP Pricing quoted on the Rates Pages are based on a loan amount of $417,000.00. Pricing is based on properties located in the state of Texas. Different states have different pricing adjusters. Minimum Loan amount required $200,000.00 for Insider Select Rates; APR will change for lower loan amounts; rate may change for loans amounts below $200,000.00. Other minimum loan amounts available based on mortgage types. All programs assume a 1 point borrower paid origination fee except the No Cost Refi, which assumes a lender paid compensation model.

FNMA 30 Year Fixed: Rate/APR based on 15 day lock, $417,000 loan amount, 740 FICO, 80 LTV, Texas location and 1 point origination.

FHA 30 Year Fixed: Rate/APR based on 15 day lock, $417,000 loan amount, 740 FICO, 90 LTV, Utah location, 1 point origination and 0.7 credit points.

VA 30 Year Fixed: Rate/APR based on 15 day lock, $417,000 IRRRL amount, 740 FICO, 90 LTV, Utah location, 1 point origination and 1.0 credit points.

FNMA 7/1 Arm: FNMA 7/1 Arm program. Amortized 30 Years. 5/2/5 caps. Libor index 1.123 as of 12.23.11. Margin 2.25. Rate/APR based on 15 day lock, $417,000 loan amount, 740 FICO, 80 LTV, Texas location, 1 point origination and 0.8 discount points.

Buy Down 30 Year Fixed: Rate/APR based on 15 day lock, $417,000 loan amount, 740 FICO, 80 LTV, Texas location, 1 point origination and 2.0 discount points.

Par 30 Year Fixed: Rate/APR based on 15 day lock, $417,000 loan amount, 740 FICO, 80 LTV, Texas location and 1 point origination.

NO COST REFI* 30 Year Fixed: No Cost Refi is based on Lender Paying for all upfront fees, up to 3.3% of the loan amount.

Buy Down 15 Year Fixed: Rate/APR based on 15 day lock, $417,000 loan amount, 740 FICO, 80 LTV, Texas location, 1 point origination and 2.0 discount points.

Par 15 Year Fixed: Rate/APR based on 15 day lock, $417,000 loan amount, 740 FICO, 80 LTV, Texas location, 1 point origination and 0.5 credit points.

NO COST REFI* 15 Year Fixed: No Cost Refi is based on Lender Paying for all upfront fees, up to 3.3% of the loan amount.

If you have any questions regarding loan parameters please contact a Licensed Program Consultant at 800-461-4152.