Conforming "PAR" Rate
6.376%
(780-850 FICO Scores)
Rates effective as of 12/07/2023 9:30:00 AM EST, quoted at 12/07/2023 4:53:32 PM EST
(For more details on this rate, scroll down to the bottom of this page)
NOTE: The true "PAR" rate does not have other fees added to the rate:
($1,055 Underwriting Fees or Lender Origination Charges - See Section A of your Loan Estimate)
In golf "PAR" is what you shoot for...in lending it's the same...we call it the PAR Rate.
When you buy down the rate by paying Points....think of it as a "Birdie".
(We also have "temporary buy downs" that reduce you payment for 1-3 years)
The Origination Fee can be included with the PAR rate...sounds like a "Bogey" right?
(We recommend asking the seller help you by covering the origination and underwriting costs)
We also have many more loan solutions in our bag than other lenders.
Our "Golf Clubs" are:
Investor DSCR Loans, Self Employed Bank Statement Loans, One Time Construction Financing, ITIN Loans...
HELOC, HELoan, Reverse Mortgages
Of course we also do Conforming Loans like HomeReady, HomePossible, FHA Loans, VA Loans & Reverse Mortgages.
Let your Incredible Lender get you to the "Cup"... your home.
$806.895 SFR Purchase price with a 5% down payment
(30 year fixed loan and buyers on loan have a middle FICO score of 780)
- Conforming Purchase Loan fixed for 30 years
(The National Conforming Loan Limit for 2024 is $766,550) - Owner Occupied Primary Residence
(Note: Interest rates for 2nd Home's or investment properties are significantly higher) - Single Family Residence
(2 Unit "Duplexes", 3-Unit "Triplexes" & 4-Unit "Multiplexes" have higher loan limits) - $806,895 Purchase Price
- $40,345 This 5% Down Payment can be a gift
- $766,550 Loan Amount
- $121.36 Monthly Mortgage Insurance Paid By Borrower
(Monthly Mortgage Insurance based on a 760 FICO score MI factor of .19)
Closing costs can be reduced by choosing a higher interest rate that covers closing costs with lender credits
(think of this as a golf "Bogey" that includes closing costs into the mortgage rate you pay)
A seller can also choose to help cover closing costs so they can sell their home faster.
(Seller's concessions are getting more popular now)
Mortgage Calculator
Our user-friendly calculator puts you in charge of estimating your mortgage payment.