Print this page

Assumptions and APR Information

Loan and APR Information for Fixed-Rate Loans or Adjustable-Rate Loans.
Estimated Loan and APR Information for Fixed-Rate Loans (as of 04/20/2014 09:00 PM Eastern)
  Conforming & FHA Larger Loan Amounts in Eligible Areas Jumbo
  30-Year Fixed 30-Year Fixed FHA 15-Year Fixed 30-Year Fixed 30-Year Fixed FHA 30-Year Fixed
Interest Rates 4.500% 4.250% 3.750% 4.500% 4.250% 4.250%
APR 4.586% 5.837% 3.898% 4.543% 5.788% 4.278%
Payment Term 30 yrs 30 yrs 15 yrs 30 yrs 30 yrs 30 yrs
Estimated Prepaid Finance Charges $2000 $2000 $2000 $2500 $2500 $2500
Loan Amount $200000 $200000 $200000 $500000 $500000 $750000
Down Payment 25.0% 3.5% 25.0% 25.0% 3.5% 25.0%
Upfront Mortgage Insurance Premium n/a $3500.00 n/a n/a $8750.00 n/a
Monthly Principal & Interest Payment
(Excludes taxes and hazard insurance; total payment will be higher)
$1013.38 $1224.37 $1454.45 $2533.43 $3060.93 $3689.55

Important disclosures, assumptions and APR information >View/Print Show Details

 
General Disclosures
  • Information displayed is accurate as of the date of the latest update and is subject to change without notice. Loan pricing can only be locked through a home mortgage consultant. Other restrictions may apply.
  • Due to various federal, state and local requirements, certain products may not be available in all areas.
  • The monthly payment amount displayed includes principal, interest and any required mortgage insurance. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.
  • The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate and applicable closing costs.
  • The approximate cost of prepaid finance charges does not constitute and is not a substitute for the Good Faith Estimate of Closing Costs (GFE) that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
  • Conventional loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate (APR).
  • Mortgage interest rates shown are based on a 60-day lock for the purchase of a primary residence. Under certain circumstances, a 60-day rate lock may not be available.
  • These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. For more information, please refer to the Loan Pricing Disclosure or contact us.
  • For refinance transactions: If you are a servicemember on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.
Adjustable Rate Mortgages (ARMs)
  • Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment. Since the index in the future is unknown, the First Adjusted Payments displayed are based on the current index plus the margin (fully indexed rate) at time of scenario/disclosure.
  • For conforming and jumbo ARM interest rates, at adjustment your new mortgage rate will be the average of the Interbank offered rates for one-year, U.S. dollar-denominated deposits in the London market (LIBOR) as published in the Wall Street Journal, plus a margin of 2.25% subject to annual and lifetime adjustment caps.
  • For FHA ARM interest rates, at adjustment your new mortgage rate will be the average weekly yield on Treasury securities adjusted to a constant maturity of one year, plus a margin of 1.75%, subject to annual and lifetime adjustment caps.
FHA
  • FHA loans require both an upfront and in most cases, an annual mortgage insurance premium. The premium varies based on the individual loan characteristics. In many instances, you may find FHA to be a more expensive financing option and should be considered after thoroughly evaluating all other product options that meet your credit qualifying and financial needs. For illustrative purposes on FHA loans, our loan detail results include an estimated mortgage insurance payment added to the monthly principal and interest payment.
Jumbo
  • Jumbo rates reflect a discount for having a Wells Fargo personal or small business checking or savings account and using Wells Fargo's Preferred Payment PlanSM options, which includes a requirement that the borrower agree to monthly payments via preauthorized electronic funds transfer. Jumbo rates are higher for borrowers who do not meet these criteria, but otherwise qualify for a Wells Fargo jumbo mortgage loan product. Limitations apply. Please contact us with any questions.
Loan Limits
  • Conforming and FHA loan amounts for certain loan products have increased in federally designated metropolitan areas. Larger limits may be available in the state of Hawaii. To determine your eligibility for a larger loan amount or find out if these new loan limits can help meet your needs, contact us.

Loan and APR Information for Fixed-Rate Loans or Adjustable-Rate Loans.


Estimated Loan and APR Information for Adjustable-Rate Loans (as of 04/20/2014 09:00 PM Eastern)
  Conforming & FHA Larger Loan Amounts in Eligible Areas Jumbo
  5-Year ARM 5-Year ARM FHA 5-Year ARM 5-Year ARM
Interest Rate 3.250% 3.250% 3.500% 3.000%
APR (May increase after loan closing) 3.001% 3.968% 3.048% 2.861%
Payment Term 30 yrs 30 yrs 30 yrs 30 yrs
Estimated Prepaid Finance Charges $2000 $2000 $2500 $2500
Loan Amount $200000 $200000 $500000 $750000
Down Payment 25.0% 3.5% 25.0% 25.0%
Upfront Mortgage Insurance Premium n/a $3500.00 n/a n/a
Initial Monthly Principal & Interest Payment
(Excludes taxes and hazard insurance; total payment will be higher)
$870.42 $1108.59 $2245.23 $3162.04
Time Initial Rate is Fixed 5 yrs 5 yrs 5 yrs 5 yrs
Adjustment after Initial Period Expires Annual Annual Annual Annual
Maximum Lifetime Caps Over/Under Original Rate 5% 5% 5% 5%
First Adjusted Interest Rate
2.75% 2.25% 2.75% 2.75%
First Adjusted Payment
(Excludes taxes and hazard insurance; total payment will be higher)
$823.96 $991.66 $2068.91 $3076.01
Fully Indexed Interest Rate
2.75% 1.875% 2.75% 2.75%
Fully Indexed Payment
(Excludes taxes and hazard insurance; total payment will be higher)
$823.96 $954.32 $2068.91 $3076.01
Close

First Adjusted Payment

 
The new estimated monthly payment due when the interest rate on adjustable-rate mortgage is reset. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment.
 
 
Close

First Adjusted Interest Rate

 
The first adjusted interest rate is an estimate of the interest rate that may be charged on the loan when it first adjusts at the end of the fixed-rate period. Since future rates cannot be predicted, it is calculated by adding the current index rate to the margin (subject to the first adjustment cap).
 
 
Close

Fully Indexed Interest Rate

 
The fully indexed interest rate is equal to the margin plus the index (an economic indicator used to determine changes in the interest rate).
 
 
Close

Fully Indexed Payment

 
The amount of the principal and interest payment calculated when using the fully indexed rate.
 
 

Important disclosures, assumptions and APR information >View/PrintShow Details

 
General Disclosures
  • Information displayed is accurate as of the date of the latest update and is subject to change without notice. Loan pricing can only be locked through a home mortgage consultant. Other restrictions may apply.
  • Due to various federal, state and local requirements, certain products may not be available in all areas.
  • The monthly payment amount displayed includes principal, interest and any required mortgage insurance. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.
  • The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate and applicable closing costs.
  • The approximate cost of prepaid finance charges does not constitute and is not a substitute for the Good Faith Estimate of Closing Costs (GFE) that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
  • Conventional loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate (APR).
  • Mortgage interest rates shown are based on a 60-day lock for the purchase of a primary residence. Under certain circumstances, a 60-day rate lock may not be available.
  • These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. For more information, please refer to the Loan Pricing Disclosure or contact us.
  • For refinance transactions: If you are a servicemember on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.
Adjustable Rate Mortgages (ARMs)
  • Interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment. Since the index in the future is unknown, the First Adjusted Payments displayed are based on the current index plus the margin (fully indexed rate) at time of scenario/disclosure.
  • For conforming and jumbo ARM interest rates, at adjustment your new mortgage rate will be the average of the Interbank offered rates for one-year, U.S. dollar-denominated deposits in the London market (LIBOR) as published in the Wall Street Journal, plus a margin of 2.25% subject to annual and lifetime adjustment caps.
  • For FHA ARM interest rates, at adjustment your new mortgage rate will be the average weekly yield on Treasury securities adjusted to a constant maturity of one year, plus a margin of 1.75%, subject to annual and lifetime adjustment caps.
FHA
  • FHA loans require both an upfront and in most cases, an annual mortgage insurance premium. The premium varies based on the individual loan characteristics. In many instances, you may find FHA to be a more expensive financing option and should be considered after thoroughly evaluating all other product options that meet your credit qualifying and financial needs. For illustrative purposes on FHA loans, our loan detail results include an estimated mortgage insurance payment added to the monthly principal and interest payment.
Jumbo
  • Jumbo rates reflect a discount for having a Wells Fargo personal or small business checking or savings account and using Wells Fargo's Preferred Payment PlanSM options, which includes a requirement that the borrower agree to monthly payments via preauthorized electronic funds transfer. Jumbo rates are higher for borrowers who do not meet these criteria, but otherwise qualify for a Wells Fargo jumbo mortgage loan product. Limitations apply. Please contact us with any questions.
Loan Limits
  • Conforming and FHA loan amounts for certain loan products have increased in federally designated metropolitan areas. Larger limits may be available in the state of Hawaii. To determine your eligibility for a larger loan amount or find out if these new loan limits can help meet your needs, contact us.
Wondering about the Larger Loan Amounts mentioned here? Learn more about these federally designated markets and your eligibility.
 
If you are a servicemember on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.
Equal Housing Lender