Fixed Rate Mortgage Loan Criteria

Quotes for fixed rate purchase and refinance loans are generally based on the following criteria: a borrower with good to excellent credit and average income seeking a loan for a single family, owner occupied one unit dwelling with 20% down payment (or 80% loan to value ratio for refinance), and 0 – 2 points. The Rate/APR and other terms may vary from those displayed based on the creditworthiness of the borrower, the type of dwelling, whether the borrower is self-employed, the location of the property and other factors. Specific details of the loans offered by our advertisers are available on their websites.

Important Facts about Adjustable Rate Mortgage Loans.

Whether you are buying a house or refinancing your mortgage, this information can help you decide if an adjustable rate mortgage (ARM) is right for you. ARMs can be complicated. If you do not understand how they work, you should not sign any loan contracts, and you might want to consider other loans. With an ARM, the interest rate on your loan is not fixed. Instead, it changes over time according to a formula – typically, a base interest rate (index) plus a certain percent (margin) (for example, the Prime Rate plus 3 percent). So, if the base interest rate increases, your interest rate and monthly payment will also increase. Please see the advertisers’ websites for the specific disclosures related to loans offered by our advertisers.

SAMPLE MORTGAGE COMPARISON
(Not actual loans available)