In the President's State of the Union address, he told homeowners that if they refinanced at today's historically low rates, they could save up to $3,000. This statement can be found in the State of the Union transcript - http://www.whitehouse.gov/the-press-office/2012/01/24/remarks-president-state-union-address. Additionally, homeowners who refinance from 30 year fixed mortgages to 15 year fixed mortgages can save up to $145,000. Further information for this can be found at http://www.nytimes.com/2011/08/21/realestate/exploring-the-15-year-loan-for-refinancing-mortgages.html Rate-Watch is not acting as a lender or broker but rather a service designed to provide the consumer leverage in regard to having the opportunity to choose from multiple low rate offers provided by multiple competing, top, direct lenders. When lenders know they are competing to earn your business, they are naturally inclined to provide their lowest/best mortgage rates up-front thus shifting the important balance of power from lender to consumer. The information provided by you to Rate-Watch is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender; but rather intended solely to provide Rate-Watch the opportunity to engage multiple lenders in the network to try and outmatch one another on your behalf to assure you are presented with their best offers. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and/or other factors. Rate-Watch does not offer its matching services in all states. This loan may not be available for all credit types, and not all service providers in the Rate-Watch network offer this or other products with interest-only options.
Disclaimer: This website is an advertising market place for individuals and companies who are seeking consumer referrals for home mortgage quotes. We are not a lender, mortgage company or bank. The information provided by you to us will be sent to a licensed mortgage company, broker and or bank in your area. We do not endorse, warrant or guarantee any service or products of any individual or company you choose to receive home refinance rate and term quotes. PayoffPilot.com does not require visitors to disclose their social security number at the time of submission of this request. Our participating lenders will ask you for your social security number to determine your FICO score which is used to determine eligibility, rate and terms.
Record Low Rates as Low as 2.75% (2.89% APR) – Disclosure as of April 22nd, 2024
The advertised loan is a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term
The initial interest rate 2.75% is fixed for 5 years
After the initial period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index (0.56% as of April 22, 2024) plus a margin of 2.44%.
The maximum periodic change in the interest rate is 2% with a maximum rate increase of 5.5% above the initial interest rate.
Interest rate quoted assumes a FICO score of 740 or higher, debt-to-income ratios of 35% or lower, asset and reserve requirements are met, your property has a loan-to-value of 80% or less on a single family primary residence with a balance up to $417,000
Not available in all states.
Rates are subject to change daily without notice.
Payment amounts shown do not include taxes or insurance.
Rate-Watch is not acting as a lender or broker and does not make loans, loan commitments, or lock-rates. The information provided by you to Rate-Watch is not an application for a mortgage loan nor is it used to pre-qualify you with any lender. All credit decisions, including loan approval and the conditional rates and terms you are offered, are the responsibility of the participating lenders and will vary based upon your loan request, your particular financial situation, and and/or other factors and criteria determined by the lenders to whom you are matched. Rate-Watch does not offer its matching services in all states. Not all consumers will qualify for the advertised rates, programs and terms.
This sample disclosure is intended for informational purposes only and does not constitute legal advice.
