Sarah Baar

Mortgage Loan Officer, AVP

NMLS ID#486543

Office Phone: 616-552-6650

Old National Bank

161 Monroe Ave NW
Grand Rapids, MI 49503

About Sarah

Sarah credits her clients for her love of the industry. Looking back over 25 years of assisting them with home financing. Professionalism, perseverance, and positivity are key elements she uses make the path from purchase and building contract to the closing table as smooth as possible on the financing side. Having the ability to finance purchase, new construction, renovations and refinances, a typical day might begin with a starter home, and end with a large-scale construction project. Sarah’s experience in the industry has deep roots including involvement with the local Home Builders and Realtor/Women’s Associations. She brings immeasurable insight with her first-hand knowledge in ownership having purchased, renovated, and built 8 homes in the past 30 years.
Sarah resides in West Michigan and enjoys spending time with the animals on their small farm, and attending family sporting events. She serves on the Executive Board of the Home Builder Association Foundation of Greater Grand Rapids; whose mission is to make an impact on the lives of those with special housing needs, and to support the development of the next generation of housing industry workers and professionals.

Mortgage Purchase Rates

If you are wanting to refinance your home, please visit our Mortgage Refinance Rates page.

Conventional
Term	Rate	APR	Principal & Interest Payment
15 Yr Fixed Purchase	2.125%	2.182%	$1,493.35
30 Yr Fixed Purchase	2.750%	2.781%	$954.25

The above rate is based off of the following assumptions for your Conventional Loan:

Credit score 740 or higher
LTV 80% (20% down payment)
Loan amount of $230,000
Purchase
Owner occupied/single family home
No secondary financing
Escrow for taxes and insurance
45-day lock
Finance charges include $850 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply.

Please note that if your credit score, down payment, loan amount or other characteristics listed are different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Property insurance is required. Rates, terms and conditions effective 01/11/21 are for sample purposes only and subject to change. Rate payment example does not include costs of insurance and taxes; therefore, the actual payment obligation will be higher. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

Construction
Term	Rate	APR	Principal & Interest Payment
Construction 15 yr	2.500%	2.570%	$1,533.62
Construction 30 yr	3.125%	3.164%	$985.26

The above rate is based off of the following assumptions for your Construction Loan:

Credit score 700 or higher
LTV 80% (20% down payment)
Loan amount of $230,000
One-time close construction
Assumes a 1-year construction phase followed by fully amortizing 30-year permanent phase
90-day lock
Finance charges include $1,050 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply.

Please note that if your down-payment or other characteristics listed are different than the above assumptions, your rate could be higher or lower. Loan amount up to $1,000,000. Subject to credit approval. Property insurance is required. Rates, terms and conditions effective 01/11/21 are for sample purposes only and subject to change. Rate payment example does not include costs of insurance and taxes; therefore, the actual payment obligation may be higher. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

Jumbo
Term	Rate	APR	Principal & Interest Payment
Jumbo 30 Yr Purchase	3.000%	3.007%	$4,216.04

The above rate is based off of the following assumptions for your Jumbo Loan:

Credit score 740 or higher
LTV 60% (40% down payment)
Loan amount of $1,000,000
Purchase
Owner occupied/single family home
No secondary financing
45-day lock
Finance charges include $850 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply.

Please note that if your credit score, down-payment, loan amount, or other characteristics listed are different than the above assumptions, your rate could be higher or lower. Loan amount $510,401 to $1,000,000. Subject to credit approval. Property insurance is required. Rates, terms and conditions effective 01/11/21 are for sample purposes only and subject to change. Rate payment example does not include costs of insurance and taxes; therefore, the actual payment obligation may be higher. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

ARM
Term	Rate	APR	Principal & Interest Payment
5/6mo SOFR ARM Purchase	2.250%	2.783%	$879.17

The above rate is based off of the following assumptions for your Conventional ARM Loan:

Credit score 740 or higher
LTV 80% (20% down payment)
Loan amount of $230,000
Purchase
Owner occupied/single family home
No secondary financing
Escrow for taxes and insurance
45-day lock
Finance charges include $850 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply.

Please note that if your credit score, down-payment, loan amount, or other characteristics listed are different than the above assumptions, your rate could be higher or lower. Loan amount up to $510,400. Subject to credit approval. Property insurance is required. Rates, terms and conditions effective 01/11/21 are for sample purposes only and subject to change. Rate payment example does not include costs of insurance and taxes; therefore, the actual payment obligation will be higher. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

Additional example of how an ARM is calculated: On a $230,000, 5/6mo SOFR ARM amortized over 30 years with an initial interest rate of 2.250% with an annual percentage rate of 2.783%, after fixed-period of 5 years the rate may increase every six months; individual adjustments are capped at 2% first, 1% subsequent and rate can never increase by more than the lifetime cap of 5%. Finance charges include $850 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply. A payment example would be as follows based on a fully-capped interest rate of the loan: Months 1-60 at 2.250% rate with a payment of $879.17, Months 61-66 at 4.250% rate with a payment of $1,092.05 Months 67-72 at 5.250% rate with a payment of $1,206.10 Months 73-78 at 6.250% rate with a payment of $1,324.01 Months 79-359 at 7.250% rate with a payment of $1,445.33 and Month 360 at 7.250% rate with a payment of $1,445.79. 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 every six months according to the market index. Current index (30 day avg SOFR) as of September, 2020 is 0.08467%. The current index plus Margin rounded to the nearest 0.125 is 3.000%. Any change may significantly impact your monthly payment. Rate payment example does not include costs of insurance and taxes; therefore, the actual payment obligation may be higher.

FHA
Term	Rate	APR	Principal & Interest Payment
FHA 30 Yr Purchase	2.500%	3.627%	$683.46

The above rate is based off of the following assumptions for your FHA Loan:

Credit score 640 or higher
LTV 96.5% (3.5% down payment)
Base loan amount of $170,000; Total loan amount of $172,975
Purchase
Owner occupied/single family home
Escrow for taxes and insurance
45-day lock
Finance charges include 1.75% of base loan amount for upfront mortgage insurance premium, $850 origination fee and $6.70 flood certification fee. Additional closing costs apply.

Please note that if your credit score, down-payment, loan amount or other characteristics listed are different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Property insurance is required. Rates, terms and conditions effective 01/11/21 are for sample purposes only and subject to change. Rate payment example does not include costs of insurance and taxes; therefore, the actual payment obligation will be higher. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

Example Payment Schedule: Listed below is the payment schedule for an FHA loan with a base loan amount of $170,000 and a total loan amount of $172,975, a rate of 3.250%, with an annual percentage rate of 4.279%, amortized over 30 years. Finance charges include 1.75% of base loan amount for upfront mortgage insurance premium, $850 origination fee and $6.70 flood certification fee. Additional closing costs apply.

Year	Number of Payments	Payment Amount
1	12	$872.12
2	12	$869.67
3	12	$867.14
4	12	$864.53
5	12	$861.83
6	12	$859.05
7	12	$856.17
8	12	$853.20
9	12	$850.13
10	12	$846.95
11	12	$843.68
12	12	$840.29
13	12	$836.79
14	12	$833.18
15	12	$829.45
16	12	$825.59
17	12	$821.61
18	12	$817.50
19	12	$813.25
20	12	$808.86
21	12	$804.33
22	12	$799.64
23	12	$794.81
24	12	$789.81
25	12	$784.65
26	12	$779.31
27	12	$773.80
28	12	$768.11
29	12	$762.24
30	11	$756.16
30 Final	1	$754.94

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