Mortgage Rate Information
The rate is based on the following assumptions.
* 30 | 20 | 15 Year
The information provided assumes the purpose of the loan is to purchase an existing single-family home property with a loan amount of $100,000 and an estimated property value of $125,000. The borrower agrees to pay 1.00% point and the property will be used as a primary residence. The rate lock period is 30 days and the assumed credit score is 740. If an escrow account is required or requested, the actual monthly payment will include amounts for principal, interest, real estate taxes and homeowner's insurance premiums.
** 5-1 ARM
Rates are subject to change at any time. Initial Annual Percentage Rate (APR) for the 5 year Adjustable Rate Mortgage (ARM) is based on a $300,000 loan amount. Rate fixed for the initial 5 year period then is subject to change annually and is based on the 1 year Treasury, 5.04% as of 4/9/2024, plus a margin of 2.75%. Max rate adjustment of 2% each year and 5% over the life of the loan. Minimum credit score of 700 required. Maximum loan amount of $1,250,000. Maximum loan to value of 95%. Subject to normal underwriting guidelines. Offer valid for primary residence and second homes only. Northwest Bank Checking Account required. Property insurance is required. Payments do not include taxes and insurance and actual payments may be higher. Private Mortgage Insurance may be required.