| Start rate of
1.00% is fixed for the first 30 days with a fixed payment
option for the first 12 months. Terms of payment are based
on a margin plus the 1 month MTA Index (4.758% as of September
2006). APR of 7.25% and payment of $804 per month is based
on a 30-year term, $250,000 loan amount at 1.00%, and may
change if the index adjusts after the first 30 days. If
minimum payment option is selected, deferred interest may
accrue. Interest rate quoted assumes a credit score of 720+
with a maximum loan-to-value (LTV) of 80% and fully documented
income on a primary residence. The APR and payment will
vary based on the specific terms of the loan selected and
verification of information and credit. Rates are subject
to change without notice. Rates are subject to change without
notice. This product may not be appropriate for all borrowers.
Please consult a financial advisor to weigh risks and benefits.
On
most refinances you can choose to have your MyRefi.com
lender/broker pay for all your Non-Recurring Closing Costs.
This is often referred to as a No Points No Fees Refinance.
Also commonly referred to as "No Fee Refinancing",
"No Closing Costs Refinancing" or "Zero
Closing Costs Mortgage".
Our lenders/brokers are able to cover the buy slightly
increasing the interest rate over what it would be on
a traditional mortgage or a no-points mortgage. The additional
interest that will be recovered over the life of the loan
allows the lender/broker to provide you with a credit
at the closing of your loan towards non-recurring closing
costs.
Non-Recurring
Closing Costs include the following: Appraisal Fee, Credit
Report, Lenders Fees, Broker Fees, Title Insurance, Escrow
Fees, and Recording Fees.
Items
that do not qualify as Non-Recurring Closing Costs are
Property Taxes, Interest, and Insurance.
Please be aware that No
Points & No Fees loans may not be available on loan
amounts below $250,000 and many not be available in conjunction
with all loan programs. All programs are subject to approved
credit.
MyRefi.com & People
Based Lending are trademarks of JRG Capital, Inc. CADRE
BRK LIC# 01478291 |
