|
$150,000 loan for under $391/month
$170,000 loan for under $560/month
$510,000 loan for under $1698/month
» Less-than-perfect credit OK!
» No credit check and no obligation |
Projected Financial is engaged in the business of providing content for
mortgage shoppers and is not acting as a mortgage broker or mortgage
lender. The information provided by you to Projected Financial and its partners
is not an application for a mortgage loan, nor is it used to
pre-qualify you with any lender. If you are contacted by a lender or
broker advertising within our or our partner network, your quoted rate
may be higher, depending on your property location, credit score,
loan-to-value ratio, debt-to-income ratio, and other factors. Projected Financial
does not guarantee that the rates or terms offered and made available
by participating Providers are the lowest rates available in the market
or the best terms available, and not all Providers in our network offer
the interest-only products that are advertised here. The interest-only
products are not available in all states or to all consumers.
Completing a form does not obligate you to purchase a service or
product from the Providers, nor does it obligate a Provider to offer to
you any particular service or good about which you may have inquired.
Additionally, the content on our website (the "Content") is supplied
in good faith using references and sources deemed reliable; however it
is published strictly on an "as-is" basis. The operator of this website
and the author hereby disclaims any and all express or implied
warranties to the maximum extent permitted by law. The Content is
provided for informational purposes only and is not to be construed as
financial or legal advice. Everyone's financial circumstances are
unique. You are urged to consult multiple informational sources and a
professional advisor before making any decisions affecting your
personal finances.
* This is based on the rate comparison with 30-year
fixed payment at 7% rate. The monthly payment options are informational
only. Your actual payment may be different. Credit restrictions may
apply. This offer is available only if your information is matched with
a selective lender(s) in our network. Rate is variable and subject to
change daily without notice. The comparable rate is variable and
subject to change. After the initial fixed-rate period, the rate will
adjust every 6 months. The initial, minimum payment on a 30-year
$150,000, 5-year Adjustable Rate Loan and 80% LTV is $391. The minimum
payment is based on a rate that is implied solely for the purpose of
calculating the minimum payment which in this example is 3.0%. Interest
will accrue at a rate of 6.13%. Paying only the minimum payment will
result in deferred interest or negative amortization since you will not
be paying all of the interest that is owed each month. The unpaid
interest is added to principal. Interest can be deferred until the
outstanding principal balance is 10% to 15% higher than the original
loan amount. If the maximum limit is reached during the first 5 years,
the payment automatically converts to an interest only payment. In this
example, the maximum limit will be reached in the 53rd month therefore
an interest only payment of $879.28 will be required. After 5 years,
the interest only payment is $1,022.84. After 10 years, the principal
and interest payment is $1348.55. The Annual Percentage Rate is 7.299%.
Rates could change daily. Actual payments and rates may vary depending
on individual client situation and current rates. Some restrictions may
apply. The comparison is based on $150,000, $200,000, $300,000 and
$500,000 loan at 7% fixed with monthly payments of $998, $1331, $1996,
and $3327 causing an annual payment difference of $7288, $9967, $14951
and $24918 respectively compared to $391, $500, $750 and $1250
respectively.
$145,000 loan for under $484/month and other options!
* The
$483.21, $534.20 or $643.28 payment is based on the borrower selecting
the minimum monthly payment option on a $145,000, $160,000 or $200,000
adjustable first mortgage loan with an interest rate of 6.103%, a
6.207% APR and a buydown at the cost of 0.750 points. The monthly
payment is fixed for the first 30 days and will adjust monthly
thereafter. The minimum monthly payment option is calculated by
amortizing the loan balance over the remaining term of the loan at an
interest rate of 1.250%. By selecting this option, the loan has the
potential for negative amortization. The minimum monthly payment option
is subject to recasting every 5 years or if the principal balance
reaches 110% of the original loan balance. The borrower also has the
option of making an interest-only payment or making principal and
interest payments amortized over either 15 or 30 years. For example, if
the borrower selects to make principal and interest payments amortized
over 30 years, the monthly payment will be $878.97, $969.90 or $1212.38
respectively. These terms are available for first mortgage loans. To
qualify for this monthly payment, the property must be owner occupied
single family residence and a loan-to-value ratio of 80%. Credit
restrictions may apply. Rate is variable and subject to change daily
without notice.
$170,000 loan for under $560/month and other options!
* Assuming
a $170,000 loan with a 30-year term and an introductory interest rate
of 3.950 percent (APR of 7.672 percent) for the first six months of
this loan, with payments of interest only for the first five years, the
borrower will make six payments of $559.58, fifty four payments of
$1,062.50 for the remainder of the interest only period assuming an
interest rate of 7.500 percent (APR of 7.672 percent), and three
hundred payments of $1,256.29 assuming an interest rate of 7.500
percent (APR of 7.672 percent). The interest rate on the loan is fixed
for an initial six month period and will adjust following this initial
six month period and every six months thereafter. To qualify for this
loan, the borrower must have a FICO score of 620 or greater, a maximum
loan amount of $1,000,000.00 and loan-to-value requirements may apply.
Because this loan has a variable interest rate, both the initial
interest rate and the APR may increase after closing. Stated APRs
include a 2.5% origination fee. Rates and terms are subject to change
without notice. This loan is only available in certain states which may
vary from time to time, and we do not offer our matching service in MT.
$510,000 loan for under $1698/month and other options!
* Assuming
a $90,000, $120,000, $180,000, $240,000, $300,000, $360,000, $420,000,
$510,000 or $600,000 adjustable first mortgage loan with the borrower
selecting the minimum monthly payment option of $299.61, $399.49,
$599.23, 798.97, $998.71, $1,198.46, $1,398.20, $1,697.82 or $1997.43
at an interest rate of 6.103%, a 6.207% APR and a buydown at the cost
of 0.750 points. The monthly payment is fixed for the first 30 days and
will adjust monthly thereafter. The minimum monthly payment option is
calculated by amortizing the loan balance over the remaining term of
the loan at an interest rate of 1.250%. By selecting this option, the
loan has the potential for negative amortization. The minimum monthly
payment option is subject to recasting every 5 years or if the
principal balance reaches 110% of the original loan balance. The
borrower also has the option of making an interest-only payment or
making principal and interest payments amortized over either 15 or 30
years. For example, if the borrower selects to make principal and
interest payments amortized over 30 years, the monthly payment will be
$537.65, $716.87, $1,075.31, $1,433.74, $1,792.18, $2,150.62,
$2,509.05, $3,046.71, or $3,584.36. These terms are available for first
mortgage loans. To qualify for this monthly payment, the property must
be owner occupied single family residence and a loan-to-value ratio of
80%. Credit restrictions may apply. Rate is variable and subject to
change daily without notice.
|
