Interest Rates and Annual Percentage Rates (APR) Effective as of: Tuesday, September 27th, 2024
Jumbo Loan Products
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Jumbo 30 Year Fixed Rate Product Details:
The payment information below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the State of New York. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
At a 6.09 interest rate, the APR (Annual Percentage Rate) for this loan type is 6.141 %. The payment schedule would be:
-360 payments of $4,840.00 at an interest rate of 6.09%
The loan sample above is for example purposes only and may not reflect the current interest rate or APR. Actual payments may be greater. If an escrow account is required or requested, the actual monthly payment will also include an amount for real estate taxes.
Home Equity Line of Credit (HELOC) Product Details:
The information below is based on a $100,000 loan. The property is located in the State of New York. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740. This assumes that the total of all existing mortgages does not exceed 80% of the property value.
The interest rate/APR (Annual Percentage Rate) has a variable-rate feature, may change monthly based on the Wall Street Journal Prime Rate (Index) effective at the beginning of each month, and as of September 27th, 2024 is currently 8.00%.
The interest rate/APR will never be lower than 3.000% or greater than 18.000%.
Payment: During the Draw period, interest only payments are due monthly, based on the outstanding principal balance. During the Repayment period, amortized principal and interest payments are due monthly based on outstanding principal balance at the end of the Draw period.
Term: 15 years consisting of a 5-year Draw period followed by a 10-year amortized Repayment period. If you make the required minimum monthly payments, on or before the due date, the loan will be paid in full at the end of the Repayment period.