Rates accurate as of May 26, 2023
Type of Mortgage | Interest Rate | Annual Percentage Rate (APR) | Loan Fee |
---|---|---|---|
30 Year Fixed (Owner Occupied) | |||
30 Year Fixed (Owner Occupied) | 7.250 | 7.483% | 1% |
20 Year Fixed (Owner Occupied) | |||
20 Year Fixed (Owner Occupied) | 7.000% | 7.293% | 1% |
15 Year Fixed (Owner Occupied) | |||
15 Year Fixed (Owner Occupied) | 6.625% | 6.978% | 1% |
30 Year Fixed (First-Time Homebuyer) | |||
30 Year Fixed (First-Time Homebuyer) | 6.625% | 6.797% | .50% |
20 Year Fixed (First-Time Homebuyer) | |||
20 Year Fixed (First-Time Homebuyer) | 6.500% | 6.721% | .50% |
30 Year Fixed (Affordable Construction Program) | |||
30 Year Fixed (Affordable Construction Program) | 5.000% | 5.103% | $800 |
30 Year Fixed (Non-Owner Occupied) | |||
30 Year Fixed (Non-Owner Occupied) | 7.750% | 8.100% | 2% |
15 Year Fixed (Non-Owner Occupied) | |||
15 Year Fixed (Non-Owner Occupied) | 7.000% | 7.520% | 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) | |||
$775,000.00 and above (80% max LTV) | |||
$775,000.00 and above (80% max LTV) | 7.750% | 7.899% | 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 7.250%, Annual Percentage Rate (APR) 7.483%, 360 monthly payments of $1,637.22 each, total interest paid $358,103.55.
- Owner Occupied (20-Year Mortgage): Interest rate 7.000%, Annual Percentage Rate (APR) 7.293%, 240 monthly payments of $1,860.72 each, total interest paid $214,971.57.
- Owner Occupied (15-Year Mortgage): Interest rate 6.625%, Annual Percentage Rate (APR) 6.978%, 180 monthly payments of $2,107.19 each, total interest paid $147,242.81.
- 1st-Time Homebuyer (30-Year Mortgage): Interest rate 6.625%, Annual Percentage Rate (APR) 6.797%, 360 monthly payments of $1,536.75 each, total interest paid $321,175.95.
- 1st-Time Homebuyer (20-Year Mortgage): Interest rate 6.500%, Annual Percentage Rate (APR) 6.721%, 240 monthly payments of $1,789.38 each, total interest paid $197,248.93.
- Non-Owner Occupied (30-Year Mortgage): Interest rate 7.750%, Annual Percentage Rate (APR) 8.100%, 360 monthly payments of $1,719.39 each, total interest paid $388,279.41.
- Non-Owner Occupied (15-Year Mortgage): Interest rate 7.000%, Annual Percentage Rate (APR) 7.520%, 180 monthly payments of $2,157.19 each, total interest paid $156,693.48.
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.
- $775,000 loan amount (80% max LTV): Interest rate 7.750%, Annual Percentage Rate (APR) 7.899%, 360 monthly payments of $5,552.19 each, total interest paid $1,253,826.38.
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 $325,000.00 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 5.000%, Annual Percentage Rate (APR) 5.103%, 360 monthly payments of $1,744.67 each, total interest paid $311,206.25.
*Green Choice Lending Program: 0.50% off loan fee for loans $774,999 and below.
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