*Zero down financing available on USDA or VA loans with automated approval. Repayment terms: Loan Amount of 240,000.00 fully amortized 30 year fixed loan with 360 monthly payments of $ 1,216.00 (principle & interest). APR* 4.597%. Based on interest rate of 4.5 as of 07/12/2013(date), rates subject to change based on market conditions and borrower eligibility. With a 640 FICO Score.
*APR – Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to replace accurate/proper Mortgage Loan Disclosure as required by the Federal Truth In Lending Act. The Rate you see on this calculator is the “Note Rate” used to calculate your Principal & Interest payment only. When you obtain a mortgage you will hear the lender quote a Note Rate and the Annual Percentage Rate (APR). The APR is defined as an annualized cost of credit. This means that the APR is the rate that you will really be paying on your mortgage because this figure includes upfront costs such as points, closing costs, mortgage insurance and prepaid interest. Mortgage lenders are required by law to disclose the APR to borrowers when quoting the interest rate. Because the APR includes other costs besides the actual amount of the mortgage, it is higher than the interest rate that is used to calculate the monthly mortgage payment (Note Rate). You are encouraged to discuss the APR and all Loan Terms with your qualified Loan Professional.
