The right mortgage
could save you thousands

30-year Fixed-Rate Loan:

The payment on a $200,000 30-year Fixed-Rate Loan at 3.375% (3.646% APR) is $884.20 for the cost of 2.25 point(s) due at closing and a loan-to-value (LTV) of 74.91%. One point is equal to one percent of your loan amount. Payment does not include taxes and insurance. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.

15-year Fixed-Rate Loan:

The payment on a $200,000 15-year Fixed-Rate Loan at 2.75% (3.174% APR) is $1,357.25 for the cost of 1.875 point(s) due at closing and a loan-to-value (LTV) of 74.91%. One point is equal to one percent of your loan amount. Payment does not include taxes and insurance. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.

FHA Loan:

Rate is fixed. The payment on a $203,500, 30-year fixed rate loan at 2.75% and 74.91% loan-to-value (LTV) is $962.79 with 1.50 Points due at closing. Payment includes a one time upfront mortgage insurance premium (MIP) at 1.75% of the base loan amount and a monthly MIP calculated at 0.8% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 74.91%, the 0.8% monthly MIP will be paid for the first 11 years of the mortgage term, or the end of the mortgage term, whichever comes first. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments only until the end of the loan. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The Annual Percentage Rate (APR) is 3.661%.

30-year Fixed-Rate VA Loan:

Rate is fixed. The payment on a $204,601, 30-year fixed-rate loan at 2.75% and 76.63% loan-to-value (LTV) is $835.27 with 1.625 Points due at closing. The Annual Percentage Rate (APR) is 3.149%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

Assumptions

• Mortgage rates could change daily.
• Actual payments will vary based on your individual situation and current rate.
• Some products may not be available in all states.
• Some jumbo products may not be available to first time home buyers.
• Lending services may not be available in all areas.
• Some restrictions may apply.
• Based on the purchase/refinance of a primary residence with no cash out at closing.
• We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance. The lock period for your rate is 40 days.
• If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
• Please remember that we don't have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Hypotec offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn't match our assumptions. To get more accurate and personalized results, please call (844) 497-6832 to talk to one of our mortgage experts.