APR Examples
The following are representative examples of products available. We will be happy to provide you with specific information on your transaction upon your request.
Conventional Fixed Rate Mortgages
Jumbo Mortgages
Affordable Housing Mortgages
Adjustable Rate Mortgages (ARM)
Mortgages For Special Needs
FHA/VA Mortgages
The following Annual Percentage Rate (APR) examples are for a typical transaction and are only examples. We will be happy to provide you with a specific APR for your transaction.
Conventional Fixed Rate Mortgages
Conventional Fixed Rate 30-Year Example
The example below assumes a sales price of $164,000, a loan amount of $150,000 and a down payment of $14,000. The simple interest rate for the example is 6.000% with a 1% origination fee and no discount points. Monthly private mortgage insurance ("PMI") is assumed for this loan. This is only an example. Please contact your local office for the current interest rates.
Annual Percentage Rate:
Payments include principal, interest and PMI:
| 6.6573%
111 @ $996.83
249 @ $899.33 |
Conventional Fixed Rate 15-Year Example
The example below assumes a sales price of $164,000, a loan amount of $150,000 and a down payment of $14,000. The simple interest rate for the example is 6.000% with a 1% origination fee and no discount points. Monthly private mortgage insurance ("PMI") is assumed for this loan. This is only an example. Please contact your local office for the current interest rates.
Annual Percentage Rate:
Payments include principal, interest and PMI:
| 6.5742%
39 @ $1,363.29
141 @ $1,265.79 |
Jumbo Mortgages
Jumbo 30-Year Fixed Rate Mortgage
This example assumes a sales price of $625,000, a loan amount of $500,000 and a down payment of $125,000. The simple interest rate for the example is 6.250% with a 1% origination fee and no discount points. This is only an example. Please contact your local office for the current rates available.
Annual Percentage Rate:
Payments include principal, interest:
| 6.3544%
360 @ $3,078.59 |
Affordable Housing Mortgages
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Virginia Housing Development Authority (VHDA) 103 LTV
The example below assumes a sales price of $120,900, a loan amount of $124,300 with no down payment, as this is a first-time homebuyer program. The simple interest rate is 4.75% with a 1% origination fee and 1% discount point. Monthly private mortgage insurance ("PMI") is assumed for this loan. This is only an example. Please contact your local office for the current available rate.
Annual Percentage Rate:
Payments include principal, interest and PMI:
| 5.7468%
120 @ $735.42
23 @ $669.13
217 @ $648.41 |
Adjustable Rate Mortgages (ARM)
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The following APR calculations are only examples. We will be happy to provide you with a specific APR for your transaction upon your request.
Portfolio 6-Month LIBOR |
Equal Housing Lender
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