Midwest Region Sales Manager, SVP
Old National Bank
100 N 2nd St
100 N 2nd St
|30 Year Fixed||5.000%||5.397%|
|15 Year Fixed||4.375%||4.586%|
|Jumbo 30 Year||4.625%||4.633%|
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 11/16/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.
On a $230,000, 5-1 ARM amortized over 20 years with an initial interest rate of 4.625% with an annual percentage rate of 4.451%, after fixed-period of 5 years the rate may increase annually; individual adjustments are capped at 2% first, 2% subsequent and rate can never increase by more than the lifetime cap of 5%. A payment example would be as follows based on a fully-capped interest rate of the loan: Years 1-5 at 4.625% rate with a payment of $511.53, Year 6 at 6.625% rate with a payment of $582, Year 7 at 8.625% rate with a payment of $654 and Years 8-20 at 9.625% rate with a payment of $689. The monthly payment may change when the interest rate on an adjustable rate mortgage is reset. After the initial fixed-rate period, your interest rate can increase annually according to the market index. Current index (LIBOR 12 month) as of October 25, 2017 is 1.835%. The current index plus Margin rounded to the nearest 0.125 is 4.125%. Any change may significantly impact your monthly payment.
|FHA 30 Year||4.875%||6.069%|