Loan Assumptions and Disclosures

Interest rates and annual percentage rates (APRs) are based on current market rates, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons to property type, loan amount, loan-to-value, credit scopre, refinance with cash out and other variables. Contact SIRVA Mortgage for details. This is not a credit decision or a commitment to lend. Mortgage insurance may be required depending on loan guidelines. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Additional loan programs may be available.

APR reflects the effective cost of your loan on a yearly basis, taking into account such items as interest, most closing costs, discount points (also referred to as "points") and loan origination fees. One point is 1% of the mortgage amount (for example, $1,000 on a $100,000 loan) based on the interest rate on your note layer, not on APR.

Adjustable-Rate Mortgage (ARM) rates assume no increase in the financial index after the initial fixed period. ARM rates and monthly payments are subject to increase after the fixed period: ARMs assume a 30-year term.

Loan Details for 5/1 Adjustable-Rate Mortgage (ARM)

The following monthly payments are based on a loan amount of $200,000.00 with an initial interest rate of 2.750% (3.047% APR) for 60 months and 0 points.

Loan Details for 7/1 ARM

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Months Estimated Rate Estimated Payment
84 2.750% $816.48
85-96 $775 min - $1,297 max
97-108 $775 min - $1,297 max
109-360 $775 min - $1,297 max
Months84
Estimated Rate2.750%
Estimated Payment$816.48
Months85-96
Estimated Rate
Estimated Payment$775 min - $1,297 max
Months97-108
Estimated Rate
Estimated Payment$775 min - $1,297 max
Months109-360
Estimated Rate
Estimated Payment$775 min - $1,297 max

Last Updated Jul 14, 2020

Adjustable-Rate details

Current Index Rate0.546% (variable)
Margin2.250%
Rate adjustment Frequency12 months
First adjusted interest rate cap 2.000% 
Subsequent adjusted interest rate cap2.000%
Limited rate cap5.000% 

Maximum rate and payment adjustments

After the initial fixed-rate period based on the initial interest rate and interest caps disclosed above. The maximum lifetime rate will never be more than 7.750% with an estimated maximum monthly payment of $1,323.

Your results are based on the purchase of a home in ZIP code 44131 with an estimated purchase price of $267,000 and an estimated down payment of $67,000.00.

 

Loan Details for 7/1 Adjustable-Rate Mortgage (ARM)

The following monthly payments are based on a loan amount of $200,000.00 with an initial interest rate of 2.750% (3.005% APR) for 84 months and 0 points.

Loan Details for 7/1 ARM

Apply Now
Months Estimated Rate Estimated Payment
84 2.750% $816.48
85-96 $775 min - $1,297 max
97-108 $775 min - $1,297 max
109-360 $775 min - $1,297 max
Months84
Estimated Rate2.750%
Estimated Payment$816.48
Months85-96
Estimated Rate
Estimated Payment$775 min - $1,297 max
Months97-108
Estimated Rate
Estimated Payment$775 min - $1,297 max
Months109-360
Estimated Rate
Estimated Payment$775 min - $1,297 max

Last Updated Jul 14, 2020

Adjustable-Rate details

Current Index Rate0.546% (variable)
Margin2.250%
Rate adjustment Frequency12 months
First adjusted interest rate cap 5.000% 
Subsequent adjusted interest rate cap2.000%
Limited rate cap5.000% 

Maximum rate and payment adjustments

After the initial fixed-rate period based on the initial interest rate and interest caps disclosed above. The maximum lifetime rate will never be more than 7.750% with an estimated maximum monthly payment of $1,297.

Your results are based on the purchase of a home in ZIP code 44131 with an estimated purchase price of $267,000.00 and an estimated down payment of $67,000.00.