vLoan Assumptions & Disclosures
These results are for Illustration purposes only. These are subject to change based on accuracy of information provided. Some products may not be available in all states. Some jumbo products may not be available to first-time home buyers. Lending services may not be available in all areas. Some restrictions may apply.
Based on the purchase or refinance of a primary residence with no cash out at closing. We assume (unless otherwise noted) that: closing costs are paid out-of-pocket; this is your primary residence and is a single family home; debt-to- income ratio is less than 43%; and credit score is over 740, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance. The lock period for your rate is 30 days.
Twelve months’ reserves are required. The loan to value (LTV) ratio is 80%. If LTV > 80%, PMI will be added to your monthly mortgage payment. VA loans do not require PMI.
Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. You may still qualify for a loan even if your situation doesn’t match our assumptions. vLoan offers a wide variety of loan options. Please contact us at 1-844-77vLoan (844-778-5626) for a rate and payment quote customized for you.
FHA 30 Year Fixed: The monthly payment on a $228,938 FHA 30 Year Fixed Loan at 4.000% and 75% loan-to-value (LTV) is $1,243.00 with 2.00 points due at closing. The Annual Percentage Rate (APR) is 4.969%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment includes a one-time upfront mortgage insurance premium (MIP) equal to 1.75% of the base loan amount and a monthly MIP calculated at 0.80% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of less than or equal to 95%, the 0.80% monthly MIP will be paid for the first 30 years of the mortgage term, or the end of the mortgage term, whichever comes first. Some state and county maximum loan amount restrictions may apply.