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| 5/1 ARM |
| Fixed rate FHA loan |
| Fixed rate VA loan |
| Fixed rate USDA |
| Fixed rate 30 Year Conventional |
| Fixed rate 20 year Conventional |
| Fixed rate 15 year Conventional |
| Fixed rate 10 year Conventional |
| other ARM options |
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5/1 ARM
This is an adjustable rate mortgage which has a fixed rate for the first 5 years. At the first adjustment date the rate may increase up to 3% points above your initial rate. Each year thereafter, the rate can increase a maximum of 2% annually with a lifetime cap of 10% over the initial rate.
Term: 30 years
Maximum Amount: $417,000
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PMI is not applicable on this type of loan (up to 95% LTV). There are no escrows on this type of loan. |
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Fixed rate FHA loan
FHA
Term: 30 years
Maximum Amount: $417,000
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Fixed rate VA loan
Veterans Administration
Term: 30 years
Maximum Amount: $417,000
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Fixed rate USDA
Rural Development
Term: 30 years
Maximum Amount: $417,000
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Fixed rate 30 Year Conventional
30 year Conventional
Term: 30 years
Maximum Amount: $417,000
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Fixed rate 20 year Conventional
20 year Conventional
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Fixed rate 15 year Conventional
15 year Conventional
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Fixed rate 10 year Conventional
10 year Conventional
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other ARM options
There are other ARM products available...up to 97% LTV with qualifying credit score. Call University & Community FCU for details if interested.
Term: 30 years
Maximum Amount: $417,000
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Escrows required on all LTVs over 80%. Escrows may be waived for 80% or less LTV at a cost of .25%. |
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $484,350 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $484,350 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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