Disclosures
Back Bay Mortgage Brokers LLC arranges but does not make loans.
Conforming loans to $417,000 APR is based on a 20% down payment or equity for a single family, owner-occupied home for a $400,000 loan amount. Super conforming loans to $523,250 APR is based on a 20% down payment or equity for a single family, owner-occupied home for a $500,000 loan amount. Jumbo loans APR is based on a 20% down payment or equity for a single family, owner-occupied home for a $1,000,000 loan amount. Rates shown are for a purchase transaction. All loans offers are subject to credit approval and income qualification.
Adjustable rates mortgages also have the following terms:
5/1 ARM 2/2/5 Rate/Payment Adjustment is Annually after initial 60 months. Annual Cap; Maximum 2%, increase/decrease at first
adjustment Maximum 2% increase/decrease annually thereafter. Life Ceiling 5% above start rate. Margin 2.25% LIBOR
7/1 ARM 5/2/5 Rate/Payment Adjustment is annually after initial 84 months. Maximum 5% increase/decrease at first adjustment
Maximum 2% increase/decrease annually thereafter Life Ceiling 5% above start rate.
Life Floor is Margin. Margin is 2.25% LIBOR, Index LIBOR: The average of Interbank offered rates for one-year U.S. dollar denominated deposits in the London market. Conversion Option Not available.
Rates are subject to change.
Mortagage Broker #MB373332