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1 Based on comparison of the APRs for offers made through LendingTree and offers reported in the 30-year FRM Primary Mortgage Market Survey® (PMMS®) compiled by Freddie Mac from January 2005 through March 2007 for the following consumer segment: 680+ FICO score, $150,000-$417,000 loan amount, less than or equal to a 80% loan-to-value ratio, single-family dwelling, primary home."; 2 Savings claim based on a borrower with a 3/1 ARM with an initial introductory/discounted interest rate of 5% interest rate refinancing into a 30-year fixed rate interest-only loan, both for $225,000. If the adjusted interest rate is calculated at the 1-year treasury (assumed to be 5%) plus a margin of 2.75% with an initial adjustment cap of 2.5%, the initial adjusted interest rate will be 7.5% (5% + 2.5%). The monthly payment for the 3/1 ARM at 5% would be $1,208. The monthly payment at the adjusted interest rate of 7.5% would be $1,573. If refinanced into a 30-year fixed rate interest-only loan at an interest rate of 7%, the interest-only payment would be $1,313 which is a 16.5% savings over the adjusted payment for the 3/1 ARM. Rate and terms offered may vary depending on your credit history and other qualifications, amount of equity in the property, location, and type of property, and other factors. Not available in all states. Rates are subject to change without notice. Individual savings may vary. *LendingTree offer terms |
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