Flagstar


Disclosures and Disclaimers

Terms:

0% down up to $1,000,000; 5% down up to $1,500,000; NO PMI. NO Prepayment Penalty. ALL 50 States. 5, 7 and 10 year ARM programs available.

Programs for qualified borrowers. All borrowers are subject to credit approval, underwriting approval, and lender terms and conditions. Programs subject to change without notice. Some restrictions may apply. Not a commitment to lend. A loan advisor will review and provide you the terms, conditions, disclosures, and additional details for the interest rates that apply to your individual situation.

Rate of 5.5000% with an APR of 5.761% as of 10, 2022 3:00 AM EDT.  The (annual percentage rate) APR calculation is based on a 5/6 adjustable-rate mortgage (ARM) in the amount of $640,000 for the purchase of a single-family primary residence with 80% loan-to-value (LTV) or 20% down payment, minimum borrower credit score of 740, and estimated points and fees of 1% of the loan amount, and origination fee of $1,295. Borrower will make 60 monthly payments in the amount of $3,633.85 after which time the rate is variable and can adjust up or down according to market rates once every 6 months for the remaining life of the loan term, or 300 months. Your payment amount will vary based on any adjustment in the interest rate after the fixed-rate period. During the adjustable period, the total interest rate will be the margin of 2 plus the 6-month SOFR index currently at 1.0511%. The margin does not adjust, but the index can. Payment is principal and interest and does not include taxes and insurance, which means your monthly obligation will be greater. Actual interest rate/APR and payment amount will vary based upon credit history, rates in effect at the time of consummation, LTV, and other credit factors. The APR is subject to change at any time prior to consummation, and individual APRs may vary for loan purchases and loan refinances due to loan programs being offered or other factors.  Some restrictions may apply. This does not constitute a rate commitment.

At least one occupying borrower must hold a valid license within one of the eligible professional fields and meet all of the following requirements:

Borrower must have completed residency within the last 10 years or be a current medical resident, fellow or intern; And borrower must be actively engaged in the eligible profession. For purchase transactions only, all occupying borrowers must be first-time home buyers and may not have owned a home within the past three (3) years. Some exceptions may apply for employment relocation or divorce.

Considerations:

* Fees and charges may vary by product and state.

* Important information will be provided to you in the disclosures you receive after we have received your application and the loan documents you are provided at loan closing.

*  Please consult your tax advisor regarding the deductibility of interest.