NMLS#1838215
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The list below is not exhaustive and provides general examples as of January 2023, a 720 credit score and a 1% discount point. Please contact your Mortgage Maestro Group loan advisor for specific loan scenario questions.
Conventional 30-Year Fixed:
Loan amount $400,000, 20% down, monthly payment without taxes and insurance $2,480, APR 6.437%.
Conventional 15-Year Fixed:
Loan amount $400,000, 20% down, monthly payment without taxes and insurance $3,190, APR 5.325%.
FHA:
Loan amount $400,000, 3.5% down, monthly payment with mortgage insurance but without taxes and homeowners insurance. $2,563, APR 6.517%, FHA monthly MI is $282.
VA:
Loan amount $400,000, 0% down, monthly payment without taxes and insurance $2,313 APR 5.788%.
USDA:
Loan amount $400,000, 0% down, monthly payment with USDA monthly fee but without taxes and insurance $2,404, APR 6.039%.
10-Year Interest Only:
Loan amount $400,000, 20% down, monthly payment without taxes and insurance $2,834, APR 8.634% *The initial payment period is applied only to interest. After 10 years, payments are made on the principal.
5/6 SOFR ARM:
Loan amount $400,000, 20% down, monthly payment without taxes and insurance $2,600, APR 6.899% *The payment or rate is subject to adjustment after 5 years. The rate may vary or payment may increase after this period.
7/6 SOFR ARM:
Loan amount $400,000, 20% down, monthly payment without taxes and insurance $2,557, APR 6.734% *The payment or rate is subject to adjustment after 7 years. The rate may vary or payment may increase after this period.
10/6 SOFR ARM:
Loan amount $400,000, 20% down, monthly payment without taxes and insurance $2,610, APR 6.937% *The payment or rate is subject to adjustment after 10 years. The rate may vary or payment may increase after this period.
Jumbo 30-Year Fixed:
Loan amount $800,000, 20% down, monthly payment without taxes and insurance $5,057, APR 6.612%.
Bridge:
Loan amount $250,000, no down, 6-month term, monthly payment without taxes and insurance (deferred), 1 balloon payment of approx.. $253,635 due on 6th month, APR 12.076%.
