All
loan rates quoted are Annual Percentage Rates Repayment
terms - An example of a typical repayment schedule
would be
60 monthly payments of $19.34 per $1000.00 borrowed.
30-Year Conventional
Mortgage
Loan Amount
Interest Rate
Points
APR*
$417,001-Over
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0
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$150,000-$417,000
5.2500%
0
5.3400%
$70,000-$149,999
5.3750%
0
5.5800%
$60,000-$69,999
5.3750%
0
5.6100%
$50,000-$59,999
5.6250%
0
5.9150%
$40,000-$49,999
5.7500%
0
6.1150%
$30,000-$39,999
5.8750%
0
6.3700%
Under $30,000
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-
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15-Year
Conventional Mortgage
Loan Amount
Interest Rate
Points
APR*
$417,001-Over
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0
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$150,000-$417,000
4.7500%
0
4.9000%
$70,000-$149,999
4.8750%
0
5.2050%
$60,000-$69,999
4.8750%
0
5.2650%
$50,000-$59,999
5.1250%
0
5.6000%
$40,000-$49,999
5.2500%
0
5.8400%
$30,000-$39,999
5.3750%
0
6.1750%
Under $30,000
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-
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30-Year
VA
Loan Amount
Interest Rate
Points
APR*
$110,00-$362,790
5.5000%
0
5.8200%
$70,000-$109,999
6.0000%
0
6.4000%
$60,000-$69,999
6.0000%
0
6.4400%
$50,000-$59,999
6.5000%
0.25
7.0850%
$40,000-$49,999
6.5000%
1.25
7.5800%
$30,000-$39,999
6.5000%
2.75
8.3800%
Under $30,000
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-
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15-Year
VA
Loan Amount
Interest Rate
Points
APR*
$110,00-$362,790
5.5000%
0
6.0300%
$70,000-$109,999
5.5000%
0
6.1600%
$60,000-$69,999
6.0000%
0
6.7200%
$50,000-$59,999
6.0000%
0.5
6.9000%
$40,000-$49,999
6.0000%
1.5
7.4400%
$30,000-$39,999
6.0000%
3
8.5300%
Under $30,000
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-
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30-Year
FHA
Loan Amount
Interest Rate
Points
APR*
$150,00**
5.5000%
0
5.8200%
$70,000-$149,999
6.0000%
0
6.4000%
$60,000-$69,999
6.0000%
0
6.4400%
$50,000-$59,999
6.0000%
0
6.4850%
$40,000-$49,999
6.0000%
0
6.5800%
$30,000-$39,999
6.5000%
0
7.2800%
Under $30,000
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-
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15-Year
FHA
Loan Amount
Interest Rate
Points
APR*
$150,00**
5.5000%
0
6.0300%
$70,000-$149,999
5.5000%
0
6.1600%
$60,000-$69,999
5.5000%
0
6.2200%
$50,000-$59,999
6.0000%
0
6.8000%
$40,000-$49,999
6.0000%
0
6.9400%
$30,000-$39,999
6.5000%
0
7.8300%
Under $30,000
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-
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*APR
- Annual Percentage Rate APR calculation is
based on an owner-occupied purchase, with
estimated closing costs of $1,500.00 and a
20% down payment. Additional factors that
may not have been considered could affect
your final rate. This is not a loan commitment,
nor a guarantee that you will receive these
rates and terms. The loan amount is assumed
to be equal to the low-point of each rate
range. The rates quoted include a 60-day rate
lock unless otherwise noted. Rates can be
locked only upon receipt of a completed loan
application and payment of the full application
fee. Loans with a loan-to-value greater than
80% may require private mortgage insurance.
Rate information is displayed for planning
purposes only, and is subject to change without
notice. Please verify current applicable rate
with Credit
Union 1 of Kansas Loan Officer
The secondary mortgage market allows financial institutions to sell mortgages, giving them new funds to be able to offer more mortgages to new borrowers. If financial institutions had to keep these mortgages the full 15 or 30 years, they would soon use up all their funds, and potential homebuyers would have a more difficult time to find mortgage lenders.
Many of the mortgages on the secondary market are bought by Fannie Mae. Other are packaged into mortgage-backed securities, and sold to investors.
