Rates and Disclosures
Assumptions and Annual Percentage Rate (APR) Information as of 6/4/2014
for an example loan amount of $320,000
| Fixed-Rate Loan1 | Conventional 30-Year Fixed |
|---|---|
| Annual Percentage Rate (APR) | 4.306% |
| Interest Rate | 4.25% |
| Payment Term | 360 months |
| Sales Price | $400,000 |
| Down Payment (20%) | $80,000 |
| Loan Amount | $320,000 |
| Estimated Prepaid Finance Charges | $1,548.00 |
| 15 Days Interest | $566.67 |
| Monthly Principal and Interest Payment(Taxes and Homeowners Insurance not included) | $1,574.21 |
1 Information displayed is accurate as of the date shown on the rate disclosure and is subject to change without notice. Loan pricing can only be locked through a home mortgage consultant. Other restrictions may apply. The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate and approximate cost of prepaid finance charges, including 15 days of interest, but does not include discount points. Property insurance, title insurance and flood insurance, if applicable, are required on all collateral. APRs shown are based on 80% Loan to Value (20% down payment), satisfaction of credit qualifications and owner occupied or second home properties. Offer subject to change without notice. Consumer loans only. Interest rate and APR may differ based on credit score or other factors.
For Jumbo Fixed Rates Call Us For Details.
| Adjustable Rate Loans2 | Conventional 5/1 Libor ARM3 |
|---|---|
| Annual Percentage Rate (APR) | 2.84% |
| Initial Interest Rate | 2.875% |
| Payment Term | 360 months |
| Time Initial Rate is Fixed | 5 years |
| Adjustment After Initial Period Expires | 2.0% per year |
| Maximum Lifetime Cap Over/Under Original Rate | 5.00% |
| Estimated Prepaid Finance Charges | $1,548 |
| 15 Days Interest | $383.33 |
| Sales Price | $400,000 |
| Down Payment (20%) | $80,000 |
| Loan Amount | $320,000 |
| Monthly Principal and Interest Payment(Taxes and Homeowners Insurance not included) | $1,327.66 |
| First Adjusted Payment | 60 months, 25 yr. term at that adjustment point. Assuming the rate goes up 2% to 4.875% then on a 25 yr. term with an adjusted balance going to $283,847.29 (when normal payments are made for 60 months and nothing extra is added to the principal) then the new P&I payment would be: $1309.42 |
1 Information displayed is accurate as of the date shown on the rate disclosure and is subject to change without notice. Loan pricing can only be locked through a home mortgage consultant. Other restrictions may apply. The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate and approximate cost of prepaid finance charges, including 15 days of interest, but does not include discount points.
2 ARM loans are variable rate loans; interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. ARM loans are adjustable rate products with an Initial Interest Rate that is fixed for a period of time and thereafter the rate may change and/or the payment may increase significantly. Margin used for example is 2.25; Index used for example is 0.535. Property insurance, title insurance and flood insurance, if applicable, are required on all collateral. APRs shown are based on 80% Loan to Value (20% down payment), satisfaction of credit qualifications and owner occupied or second home properties. Offer subject to change without notice. Consumer loans only. Interest rate and APR may differ based on credit score or other factors.
3 Your variable interest rate can increase or decrease by [2] percentage points annually and can increase [5] percentage point over your Initial Interest Rate over the term of your loan. Program, rate, terms and conditions are subject to change without notice.
For Jumbo ARM Rates Call Us For Details.
While we believe this product could be beneficial to you, there may be other mortgage products we can offer you for which you could qualify and which may be even more beneficial to you. For more helpful information about residential mortgage products, you are also invited to visit Capital Bank.