Rates accurate as of February 1, 2023
Type of Mortgage | Interest Rate | Annual Percentage Rate (APR) | Loan Fee |
---|---|---|---|
30 Year Fixed (Owner Occupied) | |||
30 Year Fixed (Owner Occupied) | 6.875% | 7.101% | 1% |
20 Year Fixed (Owner Occupied) | |||
20 Year Fixed (Owner Occupied) | 6.500% | 6.785% | 1% |
15 Year Fixed (Owner Occupied) | |||
15 Year Fixed (Owner Occupied) | 6.125% | 6.470% | 1% |
30 Year Fixed (Affordable Construction Program) | |||
30 Year Fixed (Affordable Construction Program) | 2.750% | 2.818% | $800 |
30 Year Fixed (Non-Owner Occupied) | |||
30 Year Fixed (Non-Owner Occupied) | 7.125% | 7.459% | 2% |
15 Year Fixed (Non-Owner Occupied) | |||
15 Year Fixed (Non-Owner Occupied) | 6.375% | 6.881% | 2% |
Green Choice Lending Program* | |||
Green Choice Lending Program* | 0.50% Off Loan Fee | ||
Type of Mortgage | Interest Rate | Annual Percentage Rate (APR) | Loan Fee |
Jumbo Construction (30 Year) | |||
$725,000.00 and above (80% max LTV) | |||
$725,000.00 and above (80% max LTV) | 7.125% | 7.270% | 1% |
HOME LOAN PAYMENT CALCULATIONS
Calculations based on $240,000.00 conventional loan with 20% down payment (purchase) or equity position (refinancing). Payment calculations are principal and interest only and do not include taxes or insurance which may increase your monthly payment.
- Owner Occupied (30-Year Mortgage): Interest rate 6.875%, Annual Percentage Rate (APR) 7.101%, 360 monthly payments of $1,576.63 each, total interest paid $335,835.67.
- Owner Occupied (20-Year Mortgage): Interest rate 6.500%, Annual Percentage Rate (APR) 6.785%, 240 monthly payments of $1,789.38 each, total interest paid $197,248.93.
- Owner Occupied (15-Year Mortgage): Interest rate 6.125%, Annual Percentage Rate (APR) 6.470%, 180 monthly payments of $2,041.50 each, total interest paid $134,819.86.
- Non-Owner Occupied (30-Year Mortgage): Interest rate 7.125%, Annual Percentage Rate (APR) 7.459%, 360 monthly payments of $1,616.92 each, total interest paid $350,646.64.
- Non-Owner Occupied (15-Year Mortgage): Interest rate 6.375%, Annual Percentage Rate (APR) 6.881%, 180 monthly payments of $2,074.20 each, total interest paid $141,006.18.
Maximum loan to value of 95% on Owner Occupied (with a licensed contractor).
JUMBO LOAN PAYMENT CALCULATIONS
Calculation example based on loan amount shown with 20% down payment (purchase) or equity position (refinancing). Payment calculation is principal and interest only and does not include taxes or insurance which may increase your monthly payment.
- $725,000 loan amount (80% max LTV): Interest rate 7.125%, Annual Percentage Rate (APR) 7.270%, 360 monthly payments of $4,884.46 each, total interest paid $1,059,233.12.
At OlyFed we do offer Jumbo Loans with as little as 10% down; however, Private Mortgage Insurance (PMI) is required with loans that have less than 20% down. Contact an OlyFed Loan Officer for more details.
AFFORDABLE CONSTRUCTION LOAN PROGRAM PAYMENT CALCULATION
Calculations based on $410,000.00 conventional loan with 5% down payment. Payment calculations are principal and interest only and do not include taxes, insurance or Private Mortgage Insurance (PMI), which may increase your monthly payment.
- Affordable Construction Loan Program (30-Year Mortgage): Interest rate 2.750%, Annual Percentage Rate (APR) 2.818%, 360 monthly payments of $1,673.79 each, total interest paid $198,201.07.
*Green Choice Lending Program: 0.50% off loan fee for loans $724,999 and below.
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