The information provided is based on a $128,000 loan. The property is located in San Diego, San Diego county in the State of CA. The property is an existing single family home and will be used as a primary residence. The rate lock period is 60 days and the assumed credit score is 780. This assumes that the total of all existing mortgages does not exceed 50.00% of the property value.
Interest Rate/APR: 7.750% for the first 12 months, then Prime Rate as published in the Wall Street Journal + 0.000% (currently 8.000%). The lifetime floor rate is 4.25% with a maximum rate of 12%, subject to change. Payment: Minimum monthly payment will be based on interest due. Term: 10 years draw period followed by a 15 year amortized repayment period. Balance Due at End of Loan Term: If you make the minimum monthly payment during the term of your loan on or before the due date, the loan will be paid in full after the repayment period ends. Closing Fees: $0.00 Annual Fee: $0.00