Mortgage Lending Assumptions - Santa Rosa California

Central Funding Mortgage Lending Assumptions

• Annual Percentage Rate (APR) calculations for residential loans assume single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than 90%; a minimum FICO score of 680; and a loan amount of $200,000 for conforming loans or $650,000 for jumbo loans, unless otherwise specified.
• Annual Percentage Rate (APR) calculations for commercial loans assume owner occupied at 51% or more; a loan-to-value ratio of 75% or less; a minimum FICO score of 680; and a loan amount of $500,000 unless otherwise specified.
• Annual Percentage Rate (APR) calculations for Agricultural loans assume property is currently in production and under contract; a loan-to-value ratio of 65% or less; a minimum FICO score of 680; and a loan amount of $500,000 unless otherwise specified.
• Annual Percentage Rate (APR) calculations assume no subordinate financing and that the borrower will provide full income documentation.
• Available first mortgage rates and fees may vary depending on your property's location.
• Monthly Payment per $1,000 and Monthly Payment calculations include principal and interest ONLY. PMI (Private Mortgage Insurance), hazard insurance, property taxes, state taxes, mortgage taxes, homeowner's association dues, and any other recurring costs are not included.
• Rates may be higher for residential loan amounts under $120,000 and over $359,650, and for agricultural loans under $300,000. Please call for details.
• Rates are subject to change without notice.
• Residential loan closing costs assume 30 days prepaid interest and that a borrower will escrow monthly property tax and insurance payments.
• Restrictions may apply.
• Subject to underwriter approval; not all applicants will be approved.
• Fees and charges apply.
• Taxes and insurance are extra.
• On refinance transactions, the Annual Percentage Rate (APR) calculations assume a rate and term refinance.
• Residential 30 year fixed, 5/1 ARM APR based on $200,000 loan amount, with $295 processing fee. Does not include third party fees.
• Option ARM APR based on $500,000 loan amount; index is the 12-month adjusting average of the 1 year t-bill plus a margin of 2.9.
• Closing Costs paid Home Loan based on a loan amount of $200,000 or higher; APR based on COFI index plus a margin of 3.5.
• Agriculture 5/1 ARM APR based on $500,000 loan amount, with 2 discount points. Does not include third party fees.
• Commercial 12-MTA APR based on a $500,000 loan amount; $1295 processing fee; 2 point discount fee; 75% loan-to-value.

March 14, 2010

Central Funding Group - California Mortgage Lender
P.O. Box 14932 - Santa Rosa California - 95402
Phone 707 477 9841
Web Master Services / W3C Validated