Rate update for April 15, 2015. Rates are at/near month lows. It’s a great time to lock in a low fixed rate loan.
30 Year Fixed Rate Conventional Loan
3.5% Rate, 3.553% APR, $1,436.94 P&I Payment, $2,588.20 TOTAL LENDER FEES
3.625% Rate, 3.625% APR, $1,459.36 P&I Payment, $1,354.20 TOTAL LENDER CREDIT
3.75% RATE, 3.75% APR, $1,481.97 P&I Payment, $3,559.00 TOTAL LENDER CREDIT
15 Year Fixed Rate Conventional Loan
2.75% Rate, 2.896% APR, $2,171.59 P&I Payment, $3,721.00 TOTAL LENDER FEES
2.875% Rate, 2.875% APR, $2,190.67 P&I Payment, $275.80 TOTAL LENDER CREDIT
3.00% Rate, 3.00% APR, $2,209.86 P&I Payment, $2,989.40 TOTAL LENDER CREDIT
The above quote is based on a $320,000 loan amount, $400,000 value/purchase price, a 740 credit score, 30 day rate lock quote, no escrow waiver, Utah property, purchase or no cash out refinance loan purpose. The lender fees/credit include all associated origination and lender fees and also includes the appraisal and credit report fee. A lender credit would be used to offset any other settlement charges.
Additional third party settlement charges that should be considered are title and closing fees, and prepaid escrows for property taxes and homeowner’s insurance.
To see other loan programs, or enter your exact loan scenario, visit us online at CinchHomeLoans.com, call us at 801.251.6424, or send us an email at troy@cinchhomeloans.com. NMLS# 399255, 309441
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