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Save with No Closing Costs on a 5/5 ARM
Rates as low as
2.875% | 3.815% APR
Down payments as low as 5%
with Mission Fed paying your Mortgage Insurance on Loans up to $750,000
Increase your purchasing power
- Low initial payments
- The benefits of both fixed and ARM
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We’ll help you determine what works best for you! Give us a call at 858.546.2039 or 800.500.6328, ext. 2039.
Let’s get a handle on the ARM fine print. APR = Annual Percentage Rate. APR and rate are current as of 1/15/15. A payment on a $400,000 30-year adjustable rate loan at a rate of 2.875% and 75% Loan-to-Value (LTV) is $1,659.57 per month for the first 5 years. Rates are subject to increase or decrease once every 5 years based on the weekly average of the 5 Year Constant Maturity Treasury (CMT) index rate as made available by the Federal Reserve Board plus a margin of 2.75%. Maximum cap of 2% every 5 years and 5% over the life of the loan. Payments do not include amounts for taxes and insurance. Your actual payment will be greater. For loan amounts with an LTV of 90% or greater, an escrow account for the payment of taxes and insurance will be required. For qualifying applications on primary residences located in San Diego County, Mission Fed will pay non-recurring closing costs, including, but not limited to: lender’s title insurance, title services, appraisal, tax service, credit report, flood certification and recording fees. Credit does not include prepaid interest, homeowner’s insurance, initial escrow deposit, owner’s title insurance, or city and/or county transfer tax. Maximum closing costs paid for you by Mission Fed will be $10,000 or the actual amount charged for services rendered (whichever is less) and will appear as a credit on your HUD-1 Settlement Statement. A prorated recoupment fee for closing costs paid by Mission Fed will be added to loan payoff amount if the loan is paid off within 3 years of loan closing date. Recoupment fee will be prorated monthly in equal amounts. Offer good for a limited time only. No buyups/buydowns are allowed. Other restrictions may apply. Programs, rates, terms, conditions and services are subject to change without notice and may vary based on credit qualifications and collateral. Visit a branch or call us for details. 1/15
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