*Get an official Loan Estimate before choosing a loan. Your actual rate, payment and costs could be higher. Mortgage rates could change daily. Actual payments will vary based on your individual situation and current rates AND property value. Not all borrowers will qualify. Vesting restrictions may apply. Some products may not be available in all states. Lending services may not be available in all areas. Some restrictions may apply. The interest rate is for a $700,000 loan amount 30-Year Fixed-Rate Loan, For example, an interest rate of 6.125% (6.241% APR) is at a cost of 1.00% discount point ($7,000.00) paid at closing. On a $700,000 mortgage, you would make monthly payments of $4,253.27. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 70.00%. $1,595 fee due at closing. Interest rates presented are based on the rate-and-term refinance of a non-owner-occupied, single-family residence located in San Diego County, California. 760 Min. FICO, min., ASSETS: 12 months of payment reserves required up to a loan amount of $1MM. INCOME: 1.25% Debt-Service Ratio of Subject Property with a maximum Loan-to-Value (LTV) of 70% or lower, 1.00% Discount Point and a 5-Year Prepayment Penalty. APPRAISAL: Full Property appraisal is required. Two full appraisals if loan amount is greater than $2,000,000. TITLE: A full ALTA policy is required. Impounds for property taxes and hazard insurance are not required. FLOOD DETERMINATION: A life of loan flood determination certificate is required. TAX TRACKING: Tax tracking service is required. INTEREST ONLY: Interest only features may be available on certain mortgages. The interest-only period is 10 years.
ADDITIONAL CRITERIA
Please keep in mind that we don’t have all your information. Therefore, the rate and payment result you see from this example may not reflect your actual situation. CrossCountry Mortgage, LLC offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. Some products may not be available in all states. Information, rates and pricing are subject to change without prior notice. This is not a commitment to lend. Other restrictions apply. All rights reserved.
