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 Year Adjustable-Rate Mortgage (ARM)

The following monthly payments are based on a loan amount of $400,000.00 with an initial interest rate of 4.625% (5.547% APR) for 60 months and 1 point.

Loan Details for 5-Year ARM

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Months Estimated Rate Estimated Payment
60 4.625% $2,056.56
61 - 72 $1,662 min - $2,495 max
73 - 84 $1,596 min - $2,959 max
85 - 360 $1,596 min - $3,198 max
Months60
Estimated Rate4.625%
Estimated Payment$2,056.56
Months61 - 72
Estimated Rate
Estimated Payment$1,662 min - $2,495 max
Months73 - 84
Estimated Rate
Estimated Payment$1,596 min - $2,959 max
Months85 - 360
Estimated Rate
Estimated Payment$1,596 min - $3,198 max

Last Updated Aug 5, 2022

Adjustable-Rate details

Current Index Rate3.687% (variable)
Margin2.250%
Rate adjustment Frequency1 year
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 9.625% with an estimated maximum monthly payment of $3,198.

Your results are based on the purchase of a home in ZIP code 44131 with an estimated purchase price of $534,000 and an estimated down payment of $134,000.00.

 

Loan Details for 10 Year Adjustable-Rate Mortgage (ARM)

The following monthly payments are based on a loan amount of $400,000.00 with an initial interest rate of 4.875% (5.381% APR) for 120 months and 1 point.

Loan Details for 10-Year ARM

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Months Estimated Rate Estimated Payment
120 4.875% $2,116.63
121 - 132 $1,777 min - $2,489 max
133 - 144 $1,683 min - $2,875 max
145 - 360 $1,683 min - $3,071 max
Months120
Estimated Rate4.875%
Estimated Payment$2,116.63
Months121 - 132
Estimated Rate
Estimated Payment$1,777 min - $2,489 max
Months133 - 144
Estimated Rate
Estimated Payment$1,683 min - $2,875 max
Months145 - 360
Estimated Rate
Estimated Payment$1,683 min - $3,071 max

Last Updated Aug 5, 2022

Adjustable-Rate details

Current Index Rate3.687% (variable)
Margin2.250%
Rate adjustment Frequency1 year
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 9.875% with an estimated maximum monthly payment of $3,071.

Your results are based on the purchase of a home in ZIP code 44131 with an estimated purchase price of $534,000.00 and an estimated down payment of $134,000.00.