Legal Disclosures
Rates and terms are effective on 2/1/2025 and are subject to change without notice. Your actual rate may change dependent on a variety of financial factors. Please keep in mind that the mortgage rates shown are based on certain assumptions, which may differ from your personal home loan scenario. 717 Mortgage Group
Assumptions
For all rates shown, unless otherwise noted, we assumed:
You’re buying a single-family home that’s your primary residence.
Closing costs will be paid up front, not rolled into the loan.
Your debt-to-income ratio is less than 43%.
Your credit score is 720.
You’ll have an escrow account for payment of taxes and insurance.
One point is equal to one percent of the loan amount.
Advertising Disclosures
These disclosures relate to recent advertisements on the internet by or through 717 Mortgage Group:
30-year Fixed Rate Loan
The advertised loan is a 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 6.375% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $275,000 loan, there is a 6.691% APR with a monthly principal and interest payment of $1,716 for 360 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 60% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective on 2/1/2025 and are subject to change without notice.
15-year Fixed Rate Loan
The advertised loan is a 15-year Fixed Rate Loan with a 15-year fully amortizing term. The interest rate is 5.750% for 180 months. The disclosed APR is based on the payment of 3.000 discount points. For a $275,000 loan, there is a 6.262% APR with a monthly principal and interest payment of $2,284 for 180 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 60% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. Interest rate quoted assumes a purchase of a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective on 2/12/2025 and are subject to change without notice.
FHA 30-year Fixed Rate Loan
The advertised loan is an FHA 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 6.000% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $275,000 loan, there is a 7.222% APR with a monthly principal and interest payment of $1,649 for 360 months. Interest rate quoted assumes a purchase at 80% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes, hazard insurance, or mortgage insurance; actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective on 2/12/2025 and are subject to change without notice.
VA 30-year Fixed Rate Loan
This is a VA program. The advertised loan is a VA 30-The advertised loan is a VA 30-year Fixed Rate Loan with a 30-year fully amortizing term. The interest rate is 6.000% for 360 months. The disclosed APR is based on the payment of 3.000 discount points. For a $275,000 loan, there is a 6.662% APR with a monthly principal and interest payment of $1,649 for 360 months. Interest rate quoted assumes a purchase with 45 day lock pricing at 100% loan-to-value (LTV), a minimum FICO score of 740 on a primary residence. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify. Rates and terms are effective on 2/12/2025 and are subject to change without notice. 717 Mortgage Group is not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.
Purchase: The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Payments shown do not include taxes or insurance, actual payment obligations will be greater. Not all applicants will qualify.
Refinance: The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Every person’s situation is unique and not all applicants will qualify and your savings will vary. When refinancing your existing loan, reduction in payments may reflect longer loan terms and higher interest charges over the life of the loan.
A mortgage rate buydown is a financing arrangement that gives a borrower a lower rate for a certain number of years or for the life of the loan. The borrower pays mortgage points at closing to cover the difference between the standard rate and the lowered rate.
A buydown is a way for a borrower to obtain a lower interest rate by paying discount points at closing.
The structure will vary depending on whether you want a permanent or temporary mortgage buydown rate.
Discount points, also referred to as mortgage points or prepaid interest points, are a one-time fee paid upfront. In the case of discount points, the interest rate is lower for the loan term.
In an alternate form of buydown, the points purchased reduce the interest rate for a given amount of time at the beginning of the loan.
Buydowns are most beneficial when a seller or builder offers to pay the discount points on behalf of the buyer without significantly increasing the purchase price of the home. However, if the buyer intends to pay the points themselves, there are certain circumstances in which mortgage buydowns are more suitable.
717 Mortgage Group NMLS 2424724. All loans are subject to credit approval. Not all borrowers will meet the requirements necessary to qualify. Information, rates and terms are subject to change based on market conditions, borrower eligibility and without notice. Any offer is subject to verification of borrower qualifications, property evaluations, income verification and credit approval. This is not a commitment to lend or extend credit. Certain restrictions may apply, call for details.
For licensing information, go to: www.nmlsconsumeraccess.org
