​MORTGAGE LOAN RATES & TERMS APPLICABLE TO REFINANCE TRANSACTIONS ONLY

​(REFER TO PURCHASE RATE SHEET FOR PURCHASE RATES)

Rates quoted are effective as of EFFECTIVE_DATE and are subject to change without notice.

PLEASE BE ADVISED: Today’s rates assume the following:

  • The refinance of a single-family, primary residence
  • A minimum credit score of 740
  • The loan rates assume a 80.01% for the NO PMI programs, and 60% for all others.

The rate you may qualify for is based on a variety of factors. In addition to property type, credit history, and loan-to-value, other factors may include loan purpose, loan amount, occupancy, lien(s), income and other financial obligations. Please see “Mortgage Loan Pricing Information" on the last page for details.

Payment examples do not include the cost of property taxes or insurance, so the actual payment obligation will be greater. The APR shown includes an estimate of 30 days of prepaid interest. All programs, loan rates, APR, points, and terms listed are subject to change without notice. All loans are subject to approval. APR = Annual Percentage Rate.

To apply, visit our website at www.schoolsfirstfcu.org, call 800.462.8328, ext. 8288, or email the Real Estate Lending department at realestateinfo@schoolsfirstfcu.org. Other interest rate and point options are available. Please call for details.

Fixed-Rate Mortgages: Conforming

Loan amounts from $50,000 - $510,400
Payment examples do not include the cost of property tax or insurance, so the actual obligation will be greater.

Loading...
Fixed-Rate Mortgages: Conforming
ProgramsInterest RateAPR1PointsEstimated Payment Per $1,000 Borrowed1
10 YearRECODEP1C10|Rate
RECODEZRC10|Rate
RECODEM1C10|Rate
RECODEP1C10|APR
RECODEZRC10|APR
RECODEM1C10|APR
RECODEP1C10|Discount
RECODEZRC10|Discount
RECODEM1C10|Discount
RECODEP1C10|Est_Payment
RECODEZRC10|Est_Payment
RECODEM1C10|Est_Payment
15 YearRECODEP1C15|Rate
RECODEZRC15|Rate
RECODEM1C15|Rate
RECODEP1C15|APR
RECODEZRC15|APR
RECODEM1C15|APR
RECODEP1C15|Discount
RECODEZRC15|Discount
RECODEM1C15|Discount
RECODEP1C15|Est_Payment
RECODEZRC15|Est_Payment
RECODEM1C15|Est_Payment
30 YearRECODEP1C30|Rate
RECODEZRC30|Rate
RECODEM1C30|Rate
RECODEP1C30|APR
RECODEZRC30|APR
RECODEM1C30|APR
RECODEP1C30|Discount
RECODEZRC30|Discount
RECODEM1C30|Discount
RECODEP1C30|Est_Payment
RECODEZRC30|Est_Payment
RECODEM1C30|Est_Payment
Fixed-Rate Mortgages: Conforming
Programs
10 Year
InterestAPR1PointsPayment per $1k1
RECODEP1C10|RateRECODEP1C10|APRRECODEP1C10|DiscountRECODEP1C10|Est_Payment
RECODEZRC10|RateRECODEZRC10|APRRECODEZRC10|DiscountRECODEZRC10|Est_Payment
RECODEM1C10|RateRECODEM1C10|APRRECODEM1C10|DiscountRECODEM1C10|Est_Payment
15 Year
InterestAPR1PointsPayment per $1k1
RECODEP1C15|RateRECODEP1C15|APRRECODEP1C15|DiscountRECODEP1C15|Est_Payment
RECODEZRC15|RateRECODEZRC15|APRRECODEZRC15|DiscountRECODEZRC15|Est_Payment
RECODEM1C15|RateRECODEM1C15|APRRECODEM1C15|DiscountRECODEM1C15|Est_Payment
30 Year
InterestAPR1PointsPayment per $1k1
RECODEP1C30|RateRECODEP1C30|APRRECODEP1C30|DiscountRECODEP1C30|Est_Payment
RECODEZRC30|RateRECODEZRC30|APRRECODEZRC30|DiscountRECODEZRC30|Est_Payment
RECODEM1C30|RateRECODEM1C30|APRRECODEM1C30|DiscountRECODEM1C30|Est_Payment

Eligible properties are primary residence single-family homes, condominiums (cannot exceed four stories) and manufactured homes. Maximum Loan-to-Value is 97%; Private Mortgage Insurance (PMI) is required for Loan-to-Value above 80%. Second home programs also available.

1APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term.

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

Fixed-Rate Mortgages: Conforming, High-Cost Area

Maximum Loan Amount: Based on county where property is located.1
Payment examples do not include the cost of property tax or insurance, so the actual obligation will be greater.

Loading...
Fixed-Rate Mortgages: Conforming, High-Cost Area
ProgramsInterest RateAPR2PointsEstimated Payment Per $1,000 Borrowed2
15 YearRECODEP1HC15|Rate
RECODEZRHC15|Rate
RECODEM1HC15|Rate
RECODEP1HC15|APR
RECODEZRHC15|APR
RECODEM1HC15|APR
RECODEP1HC15|Discount
RECODEZRHC15|Discount
RECODEM1HC15|Discount
RECODEP1HC15|Est_Payment
RECODEZRHC15|Est_Payment
RECODEM1HC15|Est_Payment
30 YearRECODEP1HC30|Rate
RECODEZRHC30|Rate
RECODEM1HC30|Rate
RECODEP1HC30|APR
RECODEZRHC30|APR
RECODEM1HC30|APR
RECODEP1HC30|Discount
RECODEZRHC30|Discount
RECODEM1HC30|Discount
RECODEP1HC30|Est_Payment
RECODEZRHC30|Est_Payment
RECODEM1HC30|Est_Payment
Fixed-Rate Mortgages: Conforming, High-Cost Area
Programs
15 Year
InterestAPR2PointsPayment per $1k2
RECODEP1HC15|RateRECODEP1HC15|APRRECODEP1HC15|DiscountRECODEP1HC15|Est_Payment
RECODEZRHC15|RateRECODEZRHC15|APRRECODEZRHC15|DiscountRECODEZRHC15|Est_Payment
RECODEM1HC15|RateRECODEM1HC15|APRRECODEM1HC15|DiscountRECODEM1HC15|Est_Payment
30 Year
InterestAPR2PointsPayment per $1k2
RECODEP1HC30|RateRECODEP1HC30|APRRECODEP1HC30|DiscountRECODEP1HC30|Est_Payment
RECODEZRHC30|RateRECODEZRHC30|APRRECODEZRHC30|DiscountRECODEZRHC30|Est_Payment
RECODEM1HC30|RateRECODEM1HC30|APRRECODEM1HC30|DiscountRECODEM1HC30|Est_Payment

Eligible properties are primary residence single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify. Maximum Loan-to-Value is 90%. Private Mortgage Insurance (PMI) is required for Loan-to-Value above 80%.

1Orange and Los Angeles Counties = $765,600; San Diego County = $701,500; Ventura County = $713,000. Please contact a real estate loan representative for other county loan limits.

2APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

​Fixed-Rate Mortgages: Jumbo

Loan amounts from $510,401 - $2,000,000
Payment examples do not include the cost of property tax or insurance, so the actual obligation will be greater.

Loading...
Fixed-Rate Mortgages: Jumbo
ProgramsInterest RateAPR1PointsEstimated Payment Per $1,000 Borrowed1
15 Year

(Loan Amounts: See Below2)

RECODEP1J15|Rate
RECODEZRJ15|Rate
RECODEM1J15|Rate
RECODEP1J15|APR
RECODEZRJ15|APR
RECODEM1J15|APR
RECODEP1J15|Discount
RECODEZRJ15|Discount
RECODEM1J15|Discount
RECODEP1J15|Est_Payment
RECODEZRJ15|Est_Payment
RECODEM1J15|Est_Payment
30 Year

(Loan Amounts: See Below2)

RECODEP1J30|Rate
RECODEZRJ30|Rate
RECODEM1J30|Rate
RECODEP1J30|APR
RECODEZRJ30|APR
RECODEM1J30|APR
RECODEP1J30|Discount
RECODEZRJ30|Discount
RECODEM1J30|Discount
RECODEP1J30|Est_Payment
RECODEZRJ30|Est_Payment
RECODEM1J30|Est_Payment
Fixed-Rate Mortgages: Jumbo
Programs
15 Year

(Loan Amounts: See Below2)

InterestAPR1PointsPayment per $1k1
RECODEP1J15|RateRECODEP1J15|APRRECODEP1J15|DiscountRECODEP1J15|Est_Payment
RECODEZRJ15|RateRECODEZRJ15|APRRECODEZRJ15|DiscountRECODEZRJ15|Est_Payment
RECODEM1J15|RateRECODEM1J15|APRRECODEM1J15|DiscountRECODEM1J15|Est_Payment
30 Year

(Loan Amounts: See Below2)

InterestAPR1PointsPayment per $1k1
RECODEP1J30|RateRECODEP1J30|APRRECODEP1J30|DiscountRECODEP1J30|Est_Payment
RECODEZRJ30|RateRECODEZRJ30|APRRECODEZRJ30|DiscountRECODEZRJ30|Est_Payment
RECODEM1J30|RateRECODEM1J30|APRRECODEM1J30|DiscountRECODEM1J30|Est_Payment

Eligible properties are single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify.

1APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

2Loans above the conforming loan limit are known as "jumbo" loans. Loan Amounts up to $1,000,000 available with a maximum Loan-to-Value of 90%; Loan Amounts up to $2 million available with a maximum Loan-to-Value of 80%. Private Mortgage Insurance (PMI) is required for down payments less than 20%. Condominium subject to additional rate adjustment.

​Fixed-Rate Mortgages: Investment Properties

​Loan amounts from $50,000 - $510,400
Payment examples do not include the cost of property tax or insurance, so the actual obligation will be greater.

Loading...
Fixed-Rate Mortgages: Investment Properties
ProgramsInterest RateAPR1PointsEstimated Payment Per $1,000 Borrowed1
15 YearRECODEP1P-NOO-15|Rate
RECODEZRP-NOO-15|Rate
RECODEM1P-NOO-15|Rate
RECODEP1P-NOO-15|APR
RECODEZRP-NOO-15|APR
RECODEM1P-NOO-15|APR
RECODEP1P-NOO-15|Discount
RECODEZRP-NOO-15|Discount
RECODEM1P-NOO-15|Discount
RECODEP1P-NOO-15|Est_Payment
RECODEZRP-NOO-15|Est_Payment
RECODEM1P-NOO-15|Est_Payment
30/15-Year Balloon

Based on a loan size of $1,000, with an interest rate of RECODEZRP-NOO-30N15|Rate, the estimated payoff after 15 years is RECODEZRP-NOO-30N15|Balloon_PO

RECODEP1P-NOO-30N15|Rate
RECODEZRP-NOO-30N15|Rate
RECODEM1P-NOO-30N15|Rate
RECODEP1P-NOO-30N15|APR
RECODEZRP-NOO-30N15|APR
RECODEM1P-NOO-30N15|APR
RECODEP1P-NOO-30N15|Discount
RECODEZRP-NOO-30N15|Discount
RECODEM1P-NOO-30N15|Discount
RECODEP1P-NOO-30N15|Est_Payment
RECODEZRP-NOO-30N15|Est_Payment
RECODEM1P-NOO-30N15|Est_Payment
Fixed-Rate Mortgages: Investment Properties
Programs
15 Year
InterestAPR1PointsPayment per $1k1
RECODEP1P-NOO-15|RateRECODEP1P-NOO-15|APRRECODEP1P-NOO-15|DiscountRECODEP1P-NOO-15|Est_Payment
RECODEZRP-NOO-15|RateRECODEZRP-NOO-15|APRRECODEZRP-NOO-15|DiscountRECODEZRP-NOO-15|Est_Payment
RECODEM1P-NOO-15|RateRECODEM1P-NOO-15|APRRECODEM1P-NOO-15|DiscountRECODEM1P-NOO-15|Est_Payment
30/15-Year Balloon

Based on a loan size of $1,000, with an interest rate of RECODEZRP-NOO-30N15|Rate, the estimated payoff after 15 years is RECODEZRP-NOO-30N15|Balloon_PO

InterestAPR1PointsPayment per $1k1
RECODEP1P-NOO-30N15|RateRECODEP1P-NOO-30N15|APRRECODEP1P-NOO-30N15|DiscountRECODEP1P-NOO-30N15|Est_Payment
RECODEZRP-NOO-30N15|RateRECODEZRP-NOO-30N15|APRRECODEZRP-NOO-30N15|DiscountRECODEZRP-NOO-30N15|Est_Payment
RECODEM1P-NOO-30N15|RateRECODEM1P-NOO-30N15|APRRECODEM1P-NOO-30N15|DiscountRECODEM1P-NOO-30N15|Est_Payment

Eligible properties are single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify. Investment properties require a maximum Loan-to-Value of 80%.

1APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Adjustable-Rate Mortgages (ARM)

Rates below are applicable with loan amounts of $50,000 - $510,400. Loan amounts of $510,401 - $2,000,000 are available, please contact a real estate loan representative for details.

Payment examples do not include the cost of property tax or insurance, so the actual obligation will be greater.

Loading...
Adjustable-Rate Mortgages (ARM)
ProgramInterest RateAPR1PointsMarginCapsCMT IndexEstimated Payment Per $1,000 Borrowed1
5/5 ARM

(Rate adjusts every 5 years)

RECODEZR5-5-CMT|RateRECODEZR5-5-CMT|APRRECODEZR5-5-CMT|DiscountRECODEZR5-5-CMT|MarginRECODEZR5-5-CMT|CapsRECODEZR5-5-CMT|Index_Val1st 60 paymentsRECODEZR5-5-CMT|Est_Payment1
61-120 paymentsRECODEZR5-5-CMT|Est_Payment2
121-180 paymentsRECODEZR5-5-CMT|Est_Payment3
181-240 paymentsRECODEZR5-5-CMT|Est_Payment4
5/1 ARMRECODEZR5YRT-C|RateRECODEZR5YRT-C|APRRECODEZR5YRT-C|DiscountRECODEZR5YRT-C|MarginRECODEZR5YRT-C|CapsRECODEZR5YRT-C|Index_Val1st 60 paymentsRECODEZR5YRT-C|Est_Payment1
61-72 paymentsRECODEZR5YRT-C|Est_Payment2
73-84 paymentsRECODEZR5YRT-C|Est_Payment3
85-96 paymentsRECODEZR5YRT-C|Est_Payment4
7/1 ARMRECODEZR7YRT-C|RateRECODEZR7YRT-C|APRRECODEZR7YRT-C|DiscountRECODEZR7YRT-C|MarginRECODEZR7YRT-C|CapsRECODEZR7YRT-C|Index_Val1st 84 paymentsRECODEZR7YRT-C|Est_Payment1
85-96 paymentsRECODEZR7YRT-C|Est_Payment2
97-108 paymentsRECODEZR7YRT-C|Est_Payment3
109-120 paymentsRECODEZR7YRT-C|Est_Payment4
Adjustable-Rate Mortgages (ARM)
Programs
5/5 ARM

(Rate adjusts every 5 years)

Interest RateRECODEZR5-5-CMT|Rate
APRRECODEZR5-5-CMT|APR
PointsRECODEZR5-5-CMT|Discount
MarginRECODEZR5-5-CMT|Margin
CapsRECODEZR5-5-CMT|Caps
CMT IndexRECODEZR5-5-CMT|Index_Val
Est. Payment per $1k borrowed1
Payments 1-60RECODEZR5-5-CMT|Est_Payment1
Payments 61-120RECODEZR5-5-CMT|Est_Payment2
Payments 121-180RECODEZR5-5-CMT|Est_Payment3
Payments: 181-240RECODEZR5-5-CMT|Est_Payment4
5/1 ARM
Interest RateRECODEZR5YRT-C|Rate
APRRECODEZR5YRT-C|APR
PointsRECODEZR5YRT-C|Discount
MarginRECODEZR5YRT-C|Margin
CapsRECODEZR5YRT-C|Caps
CMT IndexRECODEZR5YRT-C|Index_Val
Est. Payment per $1k borrowed1
Payments 1-60RECODEZR5YRT-C|Est_Payment1
Payments 61-72RECODEZR5YRT-C|Est_Payment2
Payments 73-84RECODEZR5YRT-C|Est_Payment3
Payments: 85-96RECODEZR5YRT-C|Est_Payment4
7/1 ARM
Interest RateRECODEZR7YRT-C|Rate
APRRECODEZR7YRT-C|APR
PointsRECODEZR7YRT-C|Discount
MarginRECODEZR7YRT-C|Margin
CapsRECODEZR7YRT-C|Caps
CMT IndexRECODEZR7YRT-C|Index_Val
Est. Payment per $1k borrowed1
Payments 1-84RECODEZR7YRT-C|Est_Payment1
Payments 85-96RECODEZR7YRT-C|Est_Payment2
Payments 97-108RECODEZR7YRT-C|Est_Payment3
Payments: 109-120RECODEZR7YRT-C|Est_Payment4

Eligible properties are primary residence single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify except for 7/1 ARM. Maximum Loan-to-Value is 95% for loan amounts up to $510,400. Private Mortgage Insurance (PMI) is required for Loan-to-Value above 80%. Second home loans available.

Variable rate, APR and payment subject to change after loan consummation. Rate is fixed for first five or seven years, depending on program, and adjusts periodically thereafter based on fully indexed rate.

1APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

No PMI Adjustable-Rate Mortgage (ARM)

Loan amounts from $50,000 - $1,000,000
Payment examples do not include the cost of property tax or insurance, so the actual obligation will be greater.

Loading...
No PMI Adjustable-Rate Mortgage (ARM)
ProgramInterest RateAPR1PointsMarginCapsCMT IndexEstimated Payment Per $1,000 Borrowed1
5/5 ARM

(Rate adjusts every 5 years)

RECODEZRNOPMI-ADJ5/5|RateRECODEZRNOPMI-ADJ5/5|APRRECODEZRHAP-NOPMI-ADJ5/5|DiscountRECODEZRHAP-NOPMI-ADJ5/5|MarginRECODEZRHAP-NOPMI-ADJ5/5|CapsRECODEZRHAP-NOPMI-ADJ5/5|Index_Val1st 60 paymentsRECODEZRHAP-NOPMI-ADJ5/5|Est_Payment1
61-120 paymentsRECODEZRHAP-NOPMI-ADJ5/5|Est_Payment2
121-180 paymentsRECODEZRHAP-NOPMI-ADJ5/5|Est_Payment3
181-240 paymentsRECODEZRHAP-NOPMI-ADJ5/5|Est_Payment4
5/1 ARMRECODEZRNOPMI-ADJ5/1|RateRECODEZRNOPMI-ADJ5/1|APRRECODEZRHAP-NOPMI-ADJ5/1|DiscountRECODEZRHAP-NOPMI-ADJ5/1|MarginRECODEZRHAP-NOPMI-ADJ5/1|CapsRECODEZRHAP-NOPMI-ADJ5/1|Index_Val1st 60 paymentsRECODEZRHAP-NOPMI-ADJ5/1|Est_Payment1
61-72 paymentsRECODEZRHAP-NOPMI-ADJ5/1|Est_Payment2
73-84 paymentsRECODEZRHAP-NOPMI-ADJ5/1|Est_Payment3
85-96 paymentsRECODEZRHAP-NOPMI-ADJ5/1|Est_Payment4
7/1 ARMRECODEZRNOPMI-ADJ7/1|RateRECODEZRNOPMI-ADJ7/1|APRRECODEZRHAP-NOPMI-ADJ7/1|DiscountRECODEZRHAP-NOPMI-ADJ7/1|MarginRECODEZRHAP-NOPMI-ADJ7/1|CapsRECODEZRHAP-NOPMI-ADJ7/1|Index_Val1st 84 paymentsRECODEZRHAP-NOPMI-ADJ7/1|Est_Payment1
85-96 paymentsRECODEZRHAP-NOPMI-ADJ7/1|Est_Payment2
97-108 paymentsRECODEZRHAP-NOPMI-ADJ7/1|Est_Payment3
109-120 paymentsRECODEZRHAP-NOPMI-ADJ7/1|Est_Payment4
No PMI Adjustable-Rate Mortgage (ARM)
Programs
5/5 ARM

(Rate adjusts every 5 years)

Interest RateRECODEZRNOPMI-ADJ5/5|Rate
APRRECODEZRNOPMI-ADJ5/5|APR
PointsRECODEZRHAP-NOPMI-ADJ5/5|Discount
MarginRECODEZRHAP-NOPMI-ADJ5/5|Margin
CapsRECODEZRHAP-NOPMI-ADJ5/5|Caps
CMT IndexRECODEZRHAP-NOPMI-ADJ5/5|Index_Val
Est. Payment per $1k borrowed1
Payments 1-60RECODEZRHAP-NOPMI-ADJ5/5|Est_Payment1
Payments 61-120RECODEZRHAP-NOPMI-ADJ5/5|Est_Payment2
Payments 121-180RECODEZRHAP-NOPMI-ADJ5/5|Est_Payment3
Payments: 181-240RECODEZRHAP-NOPMI-ADJ5/5|Est_Payment4
5/1
Interest RateRECODEZRNOPMI-ADJ5/1|Rate
APRRECODEZRNOPMI-ADJ5/1|APR
PointsRECODEZRHAP-NOPMI-ADJ5/1|Discount
MarginRECODEZRHAP-NOPMI-ADJ5/1|Margin
CapsRECODEZRHAP-NOPMI-ADJ5/1|Caps
CMT IndexRECODEZRHAP-NOPMI-ADJ5/1|Index_Val
Est. Payment per $1k borrowed1
Payments 1-60RECODEZRHAP-NOPMI-ADJ5/1|Est_Payment1
Payments 61-72RECODEZRHAP-NOPMI-ADJ5/1|Est_Payment2
Payments 73-84RECODEZRHAP-NOPMI-ADJ5/1|Est_Payment3
Payments: 85-96RECODEZRHAP-NOPMI-ADJ5/1|Est_Payment4
7/1
Interest RateRECODEZRNOPMI-ADJ7/1|Rate
APRRECODEZRNOPMI-ADJ7/1|APR
PointsRECODEZRHAP-NOPMI-ADJ7/1|Discount
MarginRECODEZRHAP-NOPMI-ADJ7/1|Margin
CapsRECODEZRHAP-NOPMI-ADJ7/1|Caps
CMT IndexRECODEZRHAP-NOPMI-ADJ7/1|Index_Val
Est. Payment per $1k borrowed1
Payments 1-84RECODEZRHAP-NOPMI-ADJ7/1|Est_Payment1
Payments 85-96RECODEZRHAP-NOPMI-ADJ7/1|Est_Payment2
Payments 97-108RECODEZRHAP-NOPMI-ADJ7/1|Est_Payment3
Payments: 109-120RECODEZRHAP-NOPMI-ADJ7/1|Est_Payment4

Eligible properties include primary residence single-family homes and condominiums (cannot exceed four stories); manufactured homes do not qualify. Maximum Loan-to-Value is 90%. Variable rate. APR and payment subject to increase after loan consummation. Rate is fixed for first five or seven years, depending on program, and adjusts periodically thereafter based on a fully indexed rate.

1APR = Annual Percentage Rate. Disclosed APR includes 30 days of estimated prepaid interest. Rates quoted are based on a loan amount of $350,000 for the stated term. 

Call 800.462.8328, ext. 8288, or visit www.schoolsfirstfcu.org for details.

Mortgage Loan Pricing Information

The credit union uses pricing evaluation to determine your mortgage loan interest rate and point combination. This evaluation assesses a group of pricing factors (listed below) specifically related to your mortgage loan. Following the initial evaluation of these pricing factors, you will be given an estimate of what your price will be.

Main Factors That Impact Your Mortgage Loan Price

Credit Score: Your credit score is a number based on information from your credit report including payment history, length of credit history, outstanding balances, and types of credit. Higher scores indicate a more sound credit profile based on maintaining timely payments, low balances, and only opening new credit accounts as needed. FICO is the most commonly used scoring system with a range from 300-850. 

Property: The value of the property, determined by an appraisal, compared to the amount you wish to borrow represents your loan-to-value or "LTV." Typically, lower Loan-to-Value will improve your loan pricing. The type of property you are refinancing is also important. For example, a multiple-unit property or condominium will have a different price point compared to a single family detached property.

Loan Type/Term: This refers to the type of loan product you select and its corresponding term. For example, a conforming fixed-rate purchase product will have different pricing than a cash-out refinance product based on the credit and property considerations described above.

Rate Lock/Price Confirmation

While you have the option to lock-in your loan interest rate before final approval, doing so does not guarantee your loan price. Any changes specific to your loan, based on the above pricing factors, will be evaluated and may affect your loan price. Your actual loan price will be redetermined at final loan document approval.

Important Mortgage Loan Information

  • Real Estate Lending department: 800.462.8328, ext. 8288.
  • Lending area: State of California.
  • A Loan Estimate summarizing loan costs will be sent within 72 hours after the loan application is received.
  • Loan settlement costs include (but may not be limited to): Origination charge, title insurance, and recording fees.
  • Annual Percentage Rate (APR): Represents a loan's interest rate combined with associated fees charged by the lender, and may be variable.
  • Adjustable-Rate Mortgage (ARM): Loan begins with a fixed rate for a set number of years; the interest rate and monthly payment adjust periodically during the remaining term. (Example: 5/1 ARM has a five-year fixed rate followed by one-year adjustments for the balance of the loan term.)
  • CMT Index: Weekly average of the one-year or five-year Constant Maturity Treasury that determines ARM rate adjustments.
  • Private Mortgage Insurance (PMI): A policy that protects the lender against losses that can occur due to non-payment by the borrower. Insurance is required if the loan amount is greater than 80% of a property's appraised value.
  • Rate Lock Policy: Limits apply to the rate lock period and rate locks may not cover the entire period between credit approval and closing in all cases. The standard lock-in-period is 60 days on refinance transactions. See "Rate Lock Information" page or contact the Real Estate Lending department for details.