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Rate Assumptions

Rate Assumptions

!!!THIS IS NOT A COMMITMENT TO LEND!!!

Interest Rates Published on the Home Page of AmNetDirect.com are From 7/24/2023 at 10:00am EST. After 10:30am est these Interest rates are to be considered expired and are for example purposes only.

All the below mortgage loan scenarios are based on Purchase Money Mortgage Loan’s on a property located in Los Angeles California, 800 credit Score Borrower with 12 months of payment reserves.

15 Year Fixed Rate Conventional Purchase Mortgage Loan: With an interest rate of 6.375% (7.008% APR) is for the cost of 3.000 discount point(s) ($28,500.00) paid at closing. On a Purchase Price of $1,188,000.00 and a loan-amount $950,000.00 mortgage, you would make monthly payments of $8,213.84. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%

30 Year Fixed Rate Conventional Purchase Mortgage Loan: With an interest rate of 6.875% (7.248% APR) is for the cost of 3.000 discount point(s) ($28,500.00) paid at closing. On a Purchase Price of $1,188,000.00 and a loan-amount $950,000.00 mortgage, you would make monthly payments of $6,243.45. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

30 Year Fixed Rate VA Mortgage Loan:With an interest rate of 5.99% (6.526% APR) is for the cost of 3.000 discount point(s) ($15,500.00) paid at closing. On a Purchase Price of $500,000.00 and a loan-amount $500,000.00 mortgage, you would make monthly payments of $2,994.54. Monthly payment does not include taxes, insurance premiums or VA Funding Fee. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 100.00%

30 Year Fixed Rate FHA Mortgage Loan:With an interest rate of 5.99% (6.471% APR) is for the cost of 3.000 discount point(s) ($13,027.50) paid at closing. On a Purchase Price of $450,000.00 and a loan-amount $434,250.00 mortgage, you would make monthly payments of $2,600.76. Monthly payment does not include taxes, insurance premiums or VA Funding Fee. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 96.50%

Payment includes a one time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 74.91%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

Adjustable Rate Mortgage Loan: We Do Not Offer Adjustable Rate Mortgage Loans

AmNetDirect.com is an Equal Housing Lender and a DBA of AmNet ESOP Corporation. Please see our Licensing Page for more information. 

Additional Assumptions:

  • Mortgage rates are subject to daily fluctuations.
  • Actual mortgage payments will vary depending on individual circumstances and current interest rates.
  • Certain loan products may not be available in all states.
  • First-time home buyers may not have access to certain jumbo loan products.
  • Lending services may not be offered in all geographical areas.
  • Some restrictions may apply to the mortgage application process.
  • The assumptions are based on the purchase or refinance of a primary residence without cash out at closing.
  • Refinancing may result in higher finance charges over the life of the loan.
  • The following assumptions were made, unless otherwise stated: closing costs are paid upfront, the property is a single-family home used as the primary residence, the debt-to-income ratio is less than 30%, and the credit score is above 720 (or 740 for certain Jumbo products). Additionally, an escrow account is used for tax and insurance payments.
  • The rate is locked for a period of 21 days.
  • If the loan-to-value ratio (LTV) exceeds 80%, Private Mortgage Insurance (PMI) will be added to the monthly mortgage payment, except for Military/VA loans, which do not require PMI.
  • It’s important to note that the provided rate and payment results from the calculator may not accurately reflect individual situations, as not all information is available. AmNet Direct offers various loan options, and applicants may still qualify for a loan even if their situation doesn’t align with these assumptions. For more accurate and personalized results, it is recommended to contact one of AmNet Direct Licensed Mortgage Loan Officers.