Conventional Loans Disclosure Statement
Standard 30 and 15 Year Conforming Annual Percentage Rate (APR) is calculated based on a $450,000 loan amount and includes an Origination fee of .5%, in addition to processing and underwriting fees. Minimum loan amount of $50,000 and maximum loan amount of $806,500.00. Rates assume that there are no other liens against the property and that the property will be owner occupied. Advertised rates may require the purchase of points to obtain the reduced rate; no points options are also available, at a higher interest rate. Loans in excess of 80% Loan to Value (LTV) are subject to private mortgage insurance (PMI). Payment examples include principal and interest but do not include any taxes or insurance premiums; your actual payment may be greater. Escrow account may be required. Rates, terms and conditions vary based on creditworthiness and qualifications and are subject to change. Subject to credit and property approval. Additional restrictions may apply. Consult your tax advisor regarding the deductibility of interest. You must be a member of Andrews Federal Credit Union to obtain any home loan from us. For complete details about our mortgage rates and to learn about product and payment options, click here.
5/6 Adjustable Rate Mortgage (ARM) Disclosure Statement
APR is variable and will adjust every six (6) months, after an initial five year period at the advertised APR, for a total of 360 monthly payments (30 year term). Your rate will change every six (6) months by no more than 2 percentage points up or down, never to exceed more than 5 percentage points above the initial rate. When the rate adjusts, your new rate will be the then current index (30-Day Average Secured Overnight Financing Rate, or SOFR) plus a margin of 1.50%, as long as the total adjustment does not exceed the 2.00% adjustment cap.