Rates accurate as of September 22, 2023
Type of Mortgage Interest Rate Annual Percentage Rate (APR) Loan Fee
30 Year Fixed (Owner Occupied)
30 Year Fixed (Owner Occupied) 7.625% 7.865% 1%
20 Year Fixed (Owner Occupied)
20 Year Fixed (Owner Occupied) 7.375% 7.675% 1%
15 Year Fixed (Owner Occupied)
15 Year Fixed (Owner Occupied) 7.125% 7.487% 1%
30 Year Fixed (First-Time Homebuyer)
30 Year Fixed (First-Time Homebuyer) 6.875% 7.051% .50%
20 Year Fixed (First-Time Homebuyer)
20 Year Fixed (First-Time Homebuyer) 6.750% 6.974% .50%
30 Year Fixed (Affordable Construction Program)
30 Year Fixed (Affordable Construction Program) 5.000% 5.101% $800
30 Year Fixed (Non-Owner Occupied)
30 Year Fixed (Non-Owner Occupied) 8.000% 8.356% 2%
15 Year Fixed (Non-Owner Occupied)
15 Year Fixed (Non-Owner Occupied) 7.500% 8.032% 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) 7.375% 7.520% 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 7.625%, Annual Percentage Rate (APR) 7.865%, 360 monthly payments of $1,698.70 each, total interest paid $380,688.99.
  • Owner Occupied (20-Year Mortgage): Interest rate 7.375%, Annual Percentage Rate (APR) 7.675%, 240 monthly payments of $1,915.12 each, total interest paid $228,479.33.
  • Owner Occupied (15-Year Mortgage): Interest rate 7.125%, Annual Percentage Rate (APR) 7.487%, 180 monthly payments of $2,173.99 each, total interest paid $159,869.70.
  • 1st-Time Homebuyer (30-Year Mortgage): Interest rate 6.875%, Annual Percentage Rate (APR) 7.051%, 360 monthly payments of $1,576.63 each, total interest paid $335,835.67.
  • 1st-Time Homebuyer (20-Year Mortgage): Interest rate 6.750%, Annual Percentage Rate (APR) 6.974%, 240 monthly payments of $1,824.87 each, total interest paid $206,070.53.
  • Non-Owner Occupied (30-Year Mortgage): Interest rate 8.000%, Annual Percentage Rate (APR) 8.356%, 360 monthly payments of $1,761.03 each, total interest paid $403,578.50.
  • Non-Owner Occupied (15-Year Mortgage): Interest rate 7.500%, Annual Percentage Rate (APR) 8.032%, 180 monthly payments of $2,224.83 each, total interest paid $169,469.32.

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 7.375%, Annual Percentage Rate (APR) 7.520%, 360 monthly payments of $5,352.73 each, total interest paid $1,180,563.92.

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 $330,000.00 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) 5.101%, 360 monthly payments of $1,771.51 each, total interest paid $315,994.59.

*Green Choice Lending Program: 0.50% off loan fee for loans $774,999 and below.

Member FDIC
Equal Housing Lender