(714) 752-0578

Bank Statement

12 Months Bank Statement
Get Rates

Competitive Rates and Fees

Competitive Pricing That Beats the Competition

Compare Our Rates and See the Difference

Affordable Pricing, Premium Service
Get Pre-Approved

Transparent Pricing, No Hidden Costs

Experience the Diffenece: Transparent Simple No Hidden Costs

Save on costs, no junk fees

Closing costs so low, you'll be surprised
Get Quote

Advisors who always put you first

We provide expert guidance and support every step of the way

5-star glowing Yelp reviews

Check out our reviews and see the difference
Check Yelp

Qualify

Bank Stmt
  • 12 Months Personal or Business

Rates

6.625%
  • Starting at 6.625%. 30 Yrs Fixed

Down

10%
  • Fthb w/o Housing History. 70%

Credit

660
  • 660 to 80% Ltv. 740 to 90%

Loan Amount

$3.5M
  • Min $150,000 - $3,500,000

Occupancy

Owner
  • Primary, 2nd & Investment
Are these today's current rate
  • Rates are subject to change without notice. Please submit a loan estimate request for the the most accurate rates that can be locked in. 

  • This program is designed for borrowers who are self-employed and would benefit from alternative loan qualification methods. Bank statements (personal and/or business) may be used as an alternative to tax returns to document aself-employed borrower’s income.

  • The Home Loan Source defines a First Time Home Buyer as a borrower who has no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the subject property.

  • First Time Home Buyer is allowed on some programs with guideline restrictions. First Time Home Buyers Ineligible for DSCR program.

  • A First Time Home Buyer can meet the housing history requirement with a satisfactory (0x30) consecutive 12 month rent history sometime in the 3 years prior to loan application.

  • A First Time Home Buyer can meet the housing history requirement with a satisfactory (0x30) consecutive 12 month

    rent history sometime in the 3 years prior to loan application.

  • Initial Deposit Review: Using an income worksheet the UW is to document the total deposits from the monthly statement. The UW will review the individual deposits on the statement and itemize deposits that are not allowable (unknown wires, transfers from other accounts, refunds, unusually large deposits). Deposits from other income sources, SSI, W2 earnings are to be backed out and documented with the appropriate documents. Gross rents from any REOs are to be backed out of the deposit totals.

    • From statement to statement the UW can recognize a deposit pattern of regular dollar amounts, frequency and source. From this pattern and the UW knowledge of business type, the threshold for unusual deposit amounts will be apparent. Additional documentation of unusual deposits will be required to be included as business revenue.

    • UW to research deposits/wires that the source is identified to insure the deposit is business revenue. The UW will be able to identify deposits that are from business financing sources and not to be included as revenue.

    • Deposits that are inconsistent in type, size or source are to be noted by UW for further review after several months have been completed. The UW can often determine a deposit as acceptable or not after multiple months of activity for deposits and debits are reviewed.

  • The UW is to review each statement debit activity for the purpose of supporting the business expense factor used to determine qualifying income. Subject to the information provided for each debit, the UW will be able to determine the accuracy of the expense factor.

    • Debits from the account are to be reviewed for consistency with the business type and expense factor applied or provided in the case of a CPA P&L. A business with a 40% expense factor per the P&L will not have 60% of the monthly deposits paid out to 3rd parties over a 12 or 24 months period. The UW will be able to support the expense factor provided or determine the accurate expenses of the business with the review of the debit activity and checks paid.

    • Debits that are known personal liabilities (as per credit report) are not viewed as business operating expenses. Undisclosed liabilities that occur regularly are to be researched to determine if additional documentation is required to categorize the expense as business or personal.

    • Debits that are paid to the same sources that a deposit has been received from must be backed out of the deposit totals.

    • Debits that are reversals or adjustments to a deposit item are to be backed out of the deposit total for that statement period.

  • Review of Checks Paid: All bank statements will itemize checks paid during the statement period. Some statements will also include copies of each check.

    • Statements without copies of checks– With a list of the checks written during the statement period, the information an UW can capture is limited. The approach with checks written from a business account is to treat them as business expenses unless documented as otherwise by a copy of the canceled check.

    • Statements with copies of checks– With the copies of canceled checks the UW will have clarity as to whether the payment is an expense of the business. The payee name, memo line and the endorsement of the check will provide information that can assist the UWs review and assessment of the business expenses.

Rates
Click here
Click here
Matrix
Click here
Guidelines
Click here
  • 12 or 24 months Bank Statements. This program is designed for borrowers who are self-employed and would benefit from alternative loan qualification methods. Bank statements (personal and/or business) may be used as an alternative to tax returns to document a

    self-employed borrower’s income.

  • At least one of the borrowers must be self-employed for at least 2 years (25% or greater ownership) to qualify for this program.

  • No 4506-C/tax transcripts/Tax Returns (4506-C required for salaried co-borrowers)

  • Excessive NSFs on the bank statements may cause the loan to be ineligible.

  • Borrower must document two years current continuous self-employment with business license or statement from corporate accountant/CPA confirming the same.

  • Other documentation from third parties may be acceptable on a case by case basis (e.g., letter from an attorney).

  • Acceptable business license must be verified by third party (e.g., government entity, borrower’s business attorney). Borrowers whose self-employment cannot be independently verified are not eligible.

  • In instances where a license is not required (e.g., choreographer), a letter from a CPA confirming employment may be accepted in lieu of a license.

  • Initial Deposit Review: Using an income worksheet the UW is to document the total deposits from the monthly statement. The UW will review the individual deposits on the statement and itemize deposits that are not allowable (unknown wires, transfers from other accounts, refunds, unusually large deposits). Deposits from other income sources, SSI, W2 earnings are to be backed out and documented with the appropriate documents. Gross rents from any REOs are to be backed out of the deposit totals.

    • From statement to statement the UW can recognize a deposit pattern of regular dollar amounts, frequency and source. From this pattern and the UW knowledge of business type, the threshold for unusual deposit amounts will be apparent. Additional documentation of unusual deposits will be required to be included as business revenue.

    • UW to research deposits/wires that the source is identified to insure the deposit is business revenue. The UW will be able to identify deposits that are from business financing sources and not to be included as revenue.

    • Deposits that are inconsistent in type, size or source are to be noted by UW for further review after several months have been completed. The UW can often determine a deposit as acceptable or not after multiple months of activity for deposits and debits are reviewed.

  • The UW is to review each statement debit activity for the purpose of supporting the business expense factor used to determine qualifying income. Subject to the information provided for each debit, the UW will be able to determine the accuracy of the expense factor.

    • Debits from the account are to be reviewed for consistency with the business type and expense factor applied or provided in the case of a CPA P&L. A business with a 40% expense factor per the P&L will not have 60% of the monthly deposits paid out to 3rd parties over a 12 or 24 months period. The UW will be able to support the expense factor provided or determine the accurate expenses of the business with the review of the debit activity and checks paid.

    • Debits that are known personal liabilities (as per credit report) are not viewed as business operating expenses. Undisclosed liabilities that occur regularly are to be researched to determine if additional documentation is required to categorize the expense as business or personal.

    • Debits that are paid to the same sources that a deposit has been received from must be backed out of the deposit totals.

    • Debits that are reversals or adjustments to a deposit item are to be backed out of the deposit total for that statement period.

  • The UW is to review each statement debit activity for the purpose of supporting the business expense factor used to determine qualifying income. Subject to the information provided for each debit, the UW will be able to determine the accuracy of the expense factor.

    • Debits from the account are to be reviewed for consistency with the business type and expense factor applied or provided in the case of a CPA P&L. A business with a 40% expense factor per the P&L will not have 60% of the monthly deposits paid out to 3rd parties over a 12 or 24 months period. The UW will be able to support the expense factor provided or determine the accurate expenses of the business with the review of the debit activity and checks paid.

    • Debits that are known personal liabilities (as per credit report) are not viewed as business operating expenses. Undisclosed liabilities that occur regularly are to be researched to determine if additional documentation is required to categorize the expense as business or personal.

    • Debits that are paid to the same sources that a deposit has been received from must be backed out of the deposit totals.

    • Debits that are reversals or adjustments to a deposit item are to be backed out of the deposit total for that statement period.

  • A borrower who is a “1099 contractor” may be considered self-employed for this program with confirmation from a CPA that the borrower is a 1099 contractor and files Schedule C or Schedule E with the IRS (personal tax returns).

  • Due to the cash nature of the service and tip industry, those borrowers may participate the bank statement program. Full documentation is required for employment. Base salary is verified with pay stubs and W-2s. Qualified tips are averaged over time. Utilize the bank statement analysis to determine tip income.

  • Borrowers who obtain their income primarily in the form of service fees or tips, are not required to have a business license.

  • Non-taxable income may be grossed up by 15% for qualifying (e.g., Social Security)

  • Supporting documentation is required to validate deposits.

  • Retirement income and other fixed documentable income is allowed for qualifying income for both a self-employed borrower and for any non-self-employed or retired co-borrower.

  • Non-taxable income may be “grossed up” by 15%.

  • Other non-retirement income from the self-employed borrower (e.g., W-2 wage income) may be used. This other income must be fully documented (i.e., may not use the bank statement documentation).

  • Supporting documentation is required to validate deposits.

  • Rental income deposited into business bank statement should be back out and can not be used as business income.

  • Rental income used for qualification must be documented with lease(s). Use 75% of lease rent amount minus PITIA for net rental income.

  • An expired lease agreement that has verbiage that states the lease agreement becomes a month-to-month lease once the initial lease/rental term expires is allowed.

  • Most recent paystub including year-to-date earnings (covering minimum of 30 days) and two years W-2s; or,

  • Traditional Written Verification of Employment with 30 days of paystubs and 2 years W-2s.

  • Must have 2 years continuous employment in the same line of work.

    • Gaps of 90 days or less may be accommodated with adequate explanation.

  • W-2 only and/or 1099 transcripts from the IRS are required for the wage earning or retirement income co-

    borrower.

  • If personal and business bank activity are combined in one bank account, borrower is to provide the most recent 24 or 12 months consecutive bank statements from the same account.

  • The bank statements are analyzed per 8.7.5 Alt-Doc : Business Bank Statement Income Analysis to determine qualifying income.

  • Standard expense factor applies; 50% expense factor.

  • If the type of business operates more efficiently or typically has a materially different expense factor (higher or lower than standard expense factor), then the expense factor per either a CPA/CTEC/EA letter or P&L may be applied.

  • The minimum expense factor with CPA letter or P&L is 20%.

  • When a CPA or tax preparer produced statement is provided, apply the stated expense factor to calculate the qualifying income ( subject to the minimum expense factors). Provide either of the following:

  • A CPA/CTEC/EA produced written statement/letter specifying the actual expense ratio of the business (including cost of goods sold and all other business expenses) based on the most recent year’s filed tax returns; or,

  • A CPA/CTEC/EA produced Profit and Loss (P&L) statement that has been reviewed by the CPA/CTEC/EA, the CPA/CTEC/EA states they have reviewed the P&L in writing, and the P&L and accompanying statement do not have unacceptable disclaimer or exculpatory language regarding its preparation.

  • The expense factor per the P&L or CPA/CTEC/EA produced statement must be reasonable. The annual deposits on the bank statements must be at least 75% of the gross receipts per the P&L.

  • When the borrower is an inter vivos trust, personal bank statements in the name of the trust are allowed for qualification

  • When only personal bank statements are used for qualifying.

  • The borrower is to provide the most recent 12 or 24 months consecutive personal bank statements and two (2) months business bank statements (to support the borrower does maintain separate accounts, and to show business cash flows in order to utilize 100% of business-related deposits in personal account).

  • The deposits are analyzed and averaged to determine monthly income.

    • No expense factor

    • Deposits to a personal account from sources other than self-employment is not to be included.

  • When the borrower is an inter vivos trust, personal bank  statements in the name of the trust are allowed for qualification.

  • If only using business bank statements, borrower is to provide the most recent 24 or 12 months consecutive business bank statements.

  • The bank statements are analyzed per Section 8.7.5 to determine monthly income.

  • Standard expense factor applies; 50% expense factor.

  • If the type of business operates more efficiently or typically has a materially different expense factor (higher or lower than 50%), then the expense factor per either a CPA/CTEC/EA letter or P&L may be applied.

  • The minimum expense factor with CPA letter or P&L is 20%.

    • When a CPA or tax preparer produced statement is provided, apply the stated expense factor to

      calculate the qualifying income. Provide either of the following:

      • A CPA/CTEC/EA produced written statement/letter specifying the actual expense ratio of thebusiness (including cost of goods sold and all other business expenses) based on the most recent year’s filed tax returns; or,

      • A CPA/CTEC/EA produced Profit and Loss (P&L) statement that has been reviewed by theCPA/CTEC/EA, the CPA/CTEC/EA states they have reviewed the P&L in writing, and the P&L and accompanying statement do not have unacceptable disclaimer or exculpatory language regarding its preparation.

    • The expense factor per the P&L or CPA/CTEC/EA produced statement must be reasonable. The annual deposits on the bank statements must be at least 75% of the gross receipts per the P&L.

  • The bank statements should show a trend of ending balances that are stable or increasing over the 24 or 12 months period.

    • Large deposits inconsistent with history must be documented as business income.

    • Net deposits must not reflect any other income sources already taken into consideration (i.e. deduct SS payments, W-2 wage earnings, etc., that have already been used for income calculation).

  • Using bank statements to document qualifying income requires the underwriter to review each set of statements differently according to the type of business and the detail of information contained in the statements.

  • Unlike a paystub, W2 or tax return, bank statements do not contain the same details from one bank to another. All bank statements will contain the same general information such as deposits, debits, balances etc. The information that will vary widely will be the details shown for each debit or deposit source. Some accounts will contain copies of checks written while most will not.

  • The underwriter will have to understand and analyze the following to determine a supportable qualifying income:

  • Research the business type – The UW must have an understanding of the type of business the statements represent and the expected deposits and expenses for the business both in dollar amounts and frequency. The UW must review the address(es) of the business to ensure the location could support the type and size of business reported if applicable.

  • The UW will have to categorize the type of bank statements being reviewed as either combined personal and business or business only. Statements cannot be categorized based solely on the account “name”. Theactivity in the details are to be used to determine the account type.
  • The UW will have to review the individual electronic and check debit activity to determine that the expense ratio being applied is accurate and supported by the statements.
  • When the bank statement debit activity reflects expenses higher than the standard expense ratios (8.7.4 Alt-Doc Option 3: Documentation and Expense Ratios) the UW is to analyze the monthly debits to determine the representative expenses for the business.
  • The UW will have to recognize when the bank statements provided are insufficient to determine a supportable qualifying income. Often additional statements or “other” accounts may be required to provide a complete income picture.

  • These are accounts that are typically used by small business owners for both business and personal use. The account activity will show deposits from business activity as well as all other sources of income ( wages from spouse,second job,SSI,rents, etc.).

  • These are accounts that are used solely for business revenue and expenses. The account will typically show revenue and expense activity for only the business. Occasionally the account could show deposits or liability payments that are not business related.

    • An acceptable business account will reflect business revenue deposits and business expense payments. An account showing deposits and only transfers to other accounts is not sufficient to analyze the business expenses and determine qualifying income.

    • Trust accounts or Client Trust accounts are not acceptable documentation for determining qualifying income. The Operating account for the business must be used to accurately analyze business expenses.

Hugh is Incredible guy, to the point, on the top of his game, friendly, easygoing, ready to help, and open to answer any questions with positive altitude. Hugh been my lender, everything changes to the right direction; he explained to me everything and anything what to do and not to do, which makes me to trust him and have confidence. It's so worth having him as my lender. I totally recommend you guys have him if you looking for a lender. You guys are not going to fail.Thank-you so much Hugh for helping me!
Peniel B.
Peniel B.Inglewood, CA
Charlie helped my parents re-finance our home. According to my parents, he is very accommodating, friendly, and easy to work with. Very trustworthy too. My parents highly recommend him. Thanks for helping out my parents, Charlie!
Adrienne R.
Adrienne R.Granada Hills, CA
Hugh is very helpful and is a true professional of his field. He goes out of his way to help his clients and I am very happy with the services he provided to me. He really cares about his clients.
John P.
John P.Riverside, CA
Hi Hugh, With great appreciation to you and your team for making this process so effortless and stress free. I have already recommended you to three of my friends. Wishing you all a wonderful holiday season!! With regards, Rosie
Rosie G.
Rosie G.Beaverton, OR
Hugh and the Home Loan Source team were exceptional through the home buying process! Tons of communication, which we needed as first time home buyers! We had a quick 30 day escrow, and there was never a moment where they weren't touching base with us to make sure we knew what was going on. I'd recommend them to anybody buying a home, and will hopefully get to use them again if we buy again in the future.
Matthew H.
Matthew H.Whittier, CA
Repeat business! Hugh helped us get a great loan last year and we just refinanced and closed few days ago. Hugh will go out of his way to help you every step of the way. He treats everyone fairly and like a family member. All transactions were smooth and explained every step of the way. He is available day or night and there is no silly question. I will always call him for any mortgage and refi needs.
Daniel H.Norwalk, CA
Hugh and his team are amazing! They are very customer service oriented. Hugh goes way out of his way to make himself available during all hours. He answers questions very quickly and gets to the bottom of anything that needs a little digging. I wasn't really sure where to even begin with the home buying process, but that was all laid to rest when I got in touch with Hugh and his team. Hugh was my loan broker as well as my real estate agent. I would recommend him and his team to anyone in the market for a loan for a new home or even a refi.
Chris C.
Chris C.Newport Beach, CA
Hugh Wang did a great, impressive and trustworthy job. He got me qualified for my loan of the property i wanted to purchase. The process was very smooth coz of his excellence and knowledge throughout the process. I am really 100% satisfied and would recommend the Home Loan Source if you are planning to be qualified for a loan.
Dang G.
Dang G.Los Angeles, CA
I refinance my house with Hugh, first I need yo mention that I'm a worrier, and this is a big deal for me because it was my first time doing this process, but Hugh disperse any doubts right away going out of is way, even working late, because of the COVID-19 we did everything over the phone which it make it more stressful but Hugh was always helpful, even like he said "we will not be meeting in this life time" he was fast in the process and professional I highly recommended usinghis services, thanks a lot Hugh
Diana C.San Francisco, CA
Far beyond an amazing team to work with. Mr. Wang went above and beyond our expectations. Along with Lizel Lopez our realtor, they made our dream of owning our first home within matter of 23 days. It was an amazing experience. They're very professional and trustworthy people to work with. We are beyond thankful and blessed to have met such incredible individuals to work it. They're truly the dream team to work with...thank you so much for all your effort and your hard work guys.
Claudia O.
Claudia O.Los Angeles, CA
Been using Hugh for my home loan needs for over 10 years and it's been nothing but a pleasure working with him and his staff. Closing a 45 day escrow today because the house was under 3 different trusts so needed the extra time just in case with so many decision-makers on the selling side but Hugh had the loan ready to close in 21 days! Did 3 new loans and a refi with him so whatever your loan needs are he there to help and listen to your needs. Will definitely recommend his services and thanks Hugh!
Summy V.San Gabriel, CA
Hugh helped us with our Mortgage Refinancing. We would highly recommend Hugh for all mortgage needs. He is very Honest, Helpful and Trustworthy. He doesn't consider you as a client instead He made us feel like Family. He is always available for any questions and concerns. I remember contacting him off office hours for my immediate concern and without hesitation he responded and assisted us. I understand that the refinancing is very stressful but for the first time Hugh made it easy and stress free he always find ways to make you qualify. Good job and wonderful service.. Thanks a lot Hugh.
Melchor C.
Melchor C.Corona, CA
Couldn't ask for better service! Hugh Wang was on top of everything during our loan process. The Home Loan Source was able to open and close escrow in only 3 weeks! This is our first home so we were naturally very anxious and nervous about the whole deal. Hugh made it as smooth and as simple for us as possible. What we appreciated most is that Hugh was very dedicated to our file...meeting with us on the weekends and working during the late evenings just to make sure everything is in place and that we would meet the escrow deadlines and requirements. While we were already approved with another loan company, I think we made a very good decision by working with The Home Loan Source. Many thanks to Hugh and his team. Excellent service!
Linda N.
Linda N.Anaheim, CA
It's alway a pleasure working with Hugh, great service, easy to understand, and very trustworthy! Will surely recommend to others. Keep up the excellent service!
Jojo S.
Jojo S.Carson, CA
Hugh and his team provided excellent service for our new purchase. 5 stars for communication, timeliness, and transparency throughout the transaction. We closed on time and exactly "on the numbers" and we are thrilled with our new home. From preapproval to final docs, Hugh delivered and made our dream a reality. Thank you, Hugh!!!
Chris K.
Chris K.Costa Mesa, CA
I whole-heartedly endorse Hugh Charlie Wang for any home refinancing. Lenders are exceptionally bureaucratic these days, and the refinance process is a long, tedious one. Hugh facilitated all the information exchanges, helped explain our circumstances to the lender, and likely saved us from having to provide redundant/repetitive documentations. At the end, we got a very competitive rate, along with a very pleasant experience. He is knowledgeable, courteous, energetic, and thoroughly professional. I have done numerous financing and refinancing before, and I can say Hugh's service is by far, superior to what banks, or large 'cookie-cutter' mortgage agencies can ever offer.
Paul L.La Canada Flintridge, CA
Hugh and Mariana were fantastic! I appreciated their diligence in sourcing the best funding solution for me, guiding me through the many issues, offering options, and always communicating with me to provide regular updates to apprise me if there status of my loan application. Their hands-on customer-focused attention to the details is outstanding. Much gratitude to Hugh, Mariana and their extended team.
Dr. Sandie A.
Dr. Sandie A.Redwood City, CA
Hands down the best Mortgage Broker team around. Hugh Wang and his team at The Home Loan Source got me qualified and in the home of my choice in no time. Hugh was honest and fair in my assessment on what I could be approved for, and through out the whole process was there for me even when it had nothing to do with my home loan. This kind of integrity is hard to find, but Hugh and his team exhibited it daily in my dealings with them. I would definitely recommend Hugh Wang to anyone interested in getting qualified or purchasing property. Hugh and his team did a tremendous job!
Emanuel A.
Emanuel A.Downey, CA
Home Loan Source Company is best mortgage company I have found to get my home mortgage. In past, I had been pre-approved from other loan companies but I can vow that Hugh Wang of Home loan source is best mortgage person I can trust in getting my home mortgage done. He is very reliable, trust worthy with best customer service. He has very quick response time and answered all my questions until I understand without getting tired of me. He loves his work of mortgage and ensures he gives all information correctly to my satisfaction.
Anand M.Sacramento, CA
Hugh and his team are great, from the very beginning They were exceptional with game planning, communication, and getting things done quickly. I kept having road blocks popping up in my refi process but hugh always kept in touch to let me know what was going on and that he would get us around them. Sure enough, in no time we were cleared to close. It was a such a relief. THANKS AGAIN HUGH & TEAM... highly recommended. I will definitely pass the word!!!!
Richard C.Santa Ana, CA
I highly recommend Hugh Wang at The Home Loan Source. I was referred to Hugh Wang by my colleague who had a positive experience working with him. Hugh went above and beyond my expectations. I was able to refinance my home at a good rate because of Hugh. He is very professional and very reliable. Hugh returned all my calls and responded to my emails and text messages right away. There were times when I called him after office hours to ask some questions, but he didn't mind talking to me at all. He took his time to answer my questions and explain things properly. I recommended Hugh to my uncle, and my uncle was also very pleased.
Keith D.Los Angeles, CA
i highly recommend mr. hugh wang he helped me with the purchase of my first home and helped me with a streamline refinance and a second refinance on my property to lower my interest and mortgage payment mr. wang is a class act he is very effective at what he does made our lives better than what it was before don't think about it he wont let you doown.
Luis T.
Luis T.Anaheim, CA
Hugh and his team are one of the best mortgage lenders to work with. They were there for me every step of the way and walked me through it from beginning to end, twice! They were available day, night and weekends. Hugh is very thorough with any questions you have on how it works, which is a plus. He has a lot of patience and I wasn't easy to work with. I learned a lot from him. I moved here from New York so I wasn't familiar with California lenders and how they worked. Hugh knows his stuff.
Anna S.
Anna S.Corona, CA
I had the pleasure of working with Hugh for my home loan, and I am beyond impressed with the service I received. Hugh made the entire mortgage process smooth, transparent, and stress-free, and I highly recommend him. From the initial consultation to the final closing, Hugh demonstrated exceptional professionalism and expertise. He thoroughly explained the loan options available to me and guided me in choosing the one that best fit my financial situation and long-term goals. His deep knowledge of the mortgage field was evident in every phone call/text interaction.
Linh V.
Linh V.Santa Monica, CA

Your Application has been submitted

If you need to reach us, please give us a call at (714) 352-0808, or send us an email to hugh@thehomeloansource.co. Thank You & Have a Great Day!

Mortgage Rates Disclosures

 

The advertised loan is a 15-year Fixed Rate Loan with a 15-year fully amortizing term. The interest rate is 5.250% for 180 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 5.755% APR with a monthly principal and interest payment of $5,838 for 180 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 60% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. Interest rate quoted assumes a purchase of a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.


The advertised loan is a 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 5.250% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 5.545% APR with a monthly principal and interest payment of $4,010 for 360 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 60% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.

The advertised loan is an FHA 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 5.250% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 6.437% APR with a monthly principal and interest payment of $4,010 for 360 months. Interest rate quoted assumes a purchase at 80% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes, hazard insurance, or mortgage insurance; actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.

This is a VA program. Current guidelines for VA Financing can be found at https://www.benefits.va.gov/homeloans/index.asp . The advertised loan is a VA 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 5.250% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $726,200 loan, there is a 5.882% APR with a monthly principal and interest payment of $4,010 for 360 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 100% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective 9:00AM PT on 9/18/2024 and are subject to change without notice.

Refinance: By refinancing your existing loan, your total finance charges may be higher over the life of the loan.