Rates accurate as of July 12, 2024
Type of Mortgage Interest Rate Annual Percentage Rate (APR) Loan Fee
30-Year Fixed (Owner Occupied)
30-Year Fixed (Owner Occupied) 7.125% 7.306% 1% Contact a Loan Officer
20-Year Fixed (Owner Occupied)
20-Year Fixed (Owner Occupied) 6.750% 6.976% 1% Contact a Loan Officer
15-Year Fixed (Owner Occupied)
15-Year Fixed (Owner Occupied) 6.500% 6.775% 1% Contact a Loan Officer
30-Year Fixed (First-Time Homebuyer)
30-Year Fixed (First-Time Homebuyer) 6.875% 7.002% .50% Contact a Loan Officer
20-Year Fixed (First-Time Homebuyer)
20-Year Fixed (First-Time Homebuyer) 6.500% 6.660% .50% Contact a Loan Officer
30-Year Fixed (Affordable Construction Program)
30-Year Fixed (Affordable Construction Program) 4.000% 4.078% $800 Contact a Loan Officer
30-Year Fixed (Non-Owner Occupied)
30-Year Fixed (Non-Owner Occupied) 7.750% 8.047% 2% Contact a Loan Officer
15-Year Fixed (Non-Owner Occupied)
15-Year Fixed (Non-Owner Occupied) 7.500% 7.952% 2% Contact a Loan Officer
Green Choice Lending Program*
Green Choice Lending Program* 0.50% Off Loan Fee Contact a Loan Officer
Type of Mortgage Interest Rate Annual Percentage Rate (APR) Loan Fee
Jumbo Construction (30 Year)
$825,000.00 and above (80% max LTV)
$825,000.00 and above (80% max LTV) 7.125% 7.266% 1% Contact a Loan Officer

HOME LOAN PAYMENT CALCULATIONS
Calculations based on $450,000.00 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 7.125%, Annual Percentage Rate (APR) 7.306%, 360 monthly payments of $3,031.73 each, total interest paid $657,458.07.
  • Owner Occupied (20-Year Mortgage): Interest rate 6.750%, Annual Percentage Rate (APR) 6.976%, 240 monthly payments of $3,421.64 each, total interest paid $386,380.02.
  • Owner Occupied (15-Year Mortgage): Interest rate 6.500%, Annual Percentage Rate (APR) 6.775%, 180 monthly payments of $3,919.98 each, total interest paid $270,222.32.
  • 1st-Time Homebuyer (30-Year Mortgage): Interest rate 6.875%, Annual Percentage Rate (APR) 7.002%, 360 monthly payments of $2,956.18 each, total interest paid $629,693.57.
  • 1st-Time Homebuyer (20-Year Mortgage): Interest rate 6.500%, Annual Percentage Rate (APR) 6.660%, 240 monthly payments of $3,355.08 each, total interest paid $369,843.80.
  • Non-Owner Occupied (30-Year Mortgage): Interest rate 7.750%, Annual Percentage Rate (APR) 8.047%, 360 monthly payments of $3,223.86 each, total interest paid $728,020.09.
  • Non-Owner Occupied (15-Year Mortgage): Interest rate 7.500%, Annual Percentage Rate (APR) 7.952%, 180 monthly payments of $4,171.56 each, total interest paid $317,754.30.

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.

  • $825,000 loan amount (80% max LTV): Interest rate 7.125%, Annual Percentage Rate (APR) 7.266%, 360 monthly payments of $5,558.18 each, total interest paid $1,205,332.61.

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 $412,000.00 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 4.000%, Annual Percentage Rate (APR) 4.078%, 360 monthly payments of $1,966.95each, total interest paid $304,342.77.

*Green Choice Lending Program: 0.50% off loan fee for loans $824,999 and below.

Member FDIC
Equal Housing Lender