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Current as of December 22, 2021

The information and disclosures below are related to the advertised terms made by Lendova

  • Interest rates and terms are available for the products and loan programs advertised and current as of the date indicated.
  • FICO score means the credit score or credit rating that a lender receives from a consumer reporting agency. The middle of the three FICO scores is used for qualification purposes if three scores are received. The lower of the two FICO scores is used for qualification purposes if two scores are received.
  • There is generally no prepayment penalty on most conventional and government loan programs. However, some conventional specialty loan programs may have 1 to 3 years prepayment penalty.
  • Loan offers, rates and APR may not be available in all areas or all states.
  • Rates & Annual Percentage Rate may be higher for borrower(s) who are; (a) non-U.S. citizens or non-U.S. permanent resident aliens.
  • Not all property types may qualify for financing, or rates & APR as advertised. Please check with your loan advisor for details.
  • Your actual Rate, APR and detailed closing cost will be disclosed on an official Loan Estimate after you have made an application for a mortgage.

Disclosure 1

Rate and APR Assumptions

Interest rate and Annual Percentage Rate quoted assumes, a minimum FICO score of 740 with 20% down payment or a maximum loan-to-value ratio of 80% on a single family detached primary residences in Texas. A minimum loan amount of $320,000, payment of property taxes and insurance with monthly mortgage payment (escrows), a maximum debt to income ratio of 41%, full credit and income verification, and required asset reserves. Up-to 3 percentage points may be included in quoted APR

  • Advertised APR for Conventional and FHA 30 Year Fixed Rate Mortgage is calculated based on 360 monthly payments
  • Advertised APR for Conventional and FHA 25 Year Fixed Rate Mortgage is calculated based on 300 monthly payments
  • Advertised APR for Conventional and FHA 20 Year Fixed Rate Mortgage is calculated based on 240 monthly payments
  • Advertised APR for Conventional and FHA 15 Year Fixed Rate Mortgage is calculated based on 180 monthly payments
  • Advertised APR for Conventional 5 Year Adjustable Rate Mortgage is calculated based on an initial interest rate and 360 monthly payments.
  • Advertised APR for Conventional 7 Year Adjustable Rate Mortgage is calculated based on an initial interest rate and 360 monthly payments
  • Advertised APR for Conventional 10 Year Adjustable Rate Mortgage is calculated based on an initial interest rate and 360 monthly payments

Payment Example:

Loan Amount Initial Interest Rate (for 60 months) APR Initial Monthly Payments (for 60 months)
$175,000 2.25% 2.946% $668.57
$350,000 122.22% 345.34% $23,000
$225,000 2.05% 2.33% $1,345
$4,000 2.2% 0% $43,000
Loan Amount$175,000
Initial Interest Rate (for 60 months)2.25%
APR2.946%
Initial Monthly Payments (for 60 months)$668.57
Loan Amount$350,000
Initial Interest Rate (for 60 months)122.22%
APR345.34%
Initial Monthly Payments (for 60 months)$23,000
Loan Amount$225,000
Initial Interest Rate (for 60 months)2.05%
APR2.33%
Initial Monthly Payments (for 60 months) $1,345
Loan Amount$4,000
Initial Interest Rate (for 60 months)2.2%
APR0%
Initial Monthly Payments (for 60 months) $43,000

Disclosure Assumptions

Advertised APR for FHA Mortgages do not include FHA Upfront Mortgage Insurance Premium. APR will be higher depending on the amount of your Upfront Mortgage Insurance premium payable to Federal Housing Administration. As of the date of this disclosure, FHA Upfront Mortgage Insurance premium ranges between 0.55% to 1.75% of the loan amount depending on the loan term, loan to value ratio, and the purpose of the loan (purchase, refinance, cash-out).

RATE QUOTE ASSUMPTIONS

  • Rate and Price quote is for a loan without Escrows/Impound.
  • Rate is quoted for a 30 Days lock period.
  • This is a rate quote for a Purchase loan with a loan amount of $320,000 and a property value of $400,000.
  • Your Loan to Value ratio (LTV) is 80.0. Your first and junior lien(s) Combined Loan to Value (CLTV) is 80.0.
  • This property is a Single Family Detached in Texas being used as Primary Residence.
  • This Rate Quote is based on your Credit Rating of 740 with Escrows/Impounds not required.
  • Lendova is a direct, up-front mortgage lender offering up-to-date mortgage rates. Our loan programs include: Conventional, FHA, Fixed Rate and Adjustable Rate Loans. We are committed to delivering the most accurate and competitive mortgage interest rate and closing costs.
  • Negative Lender Credit may not be refunded to you. Total Lender Credits may not exceed your total closing costs.
  • Escrow & Prepaid items required for Escrow calculation. Amounts are estimated. Final amount will be based on actual Taxes and Insurance.

Important Information

Mortgage rates could change daily and you may not qualify for the rates offered. Rate and fees are subject to change without notice until locked. Mortgage services are only available in select States and Areas.

Payments shown may not include your monthly escrow payments for home insurance or property taxes. Actual payments will vary based on your individual situation and current market rates. Mortgage Insurance payment, if shown, are only estimated. Actual mortgage insurance payments will be determined by the mortgage insurer.

Closing costs shown may not include home insurance, property tax or prepaid interest.

Until you lock your rate, APR terms and cost are subject to change or may not be available at commitment or closing. Rates and APRs may vary depending on loan details, such as points, loan amount, loan-to-value ratio, your credit rating, property type, and occupancy. ARM rates may increase during your loan term.