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Sarah Baar

Sarah Baar

Mortgage Loan Officer, AVP

NMLS ID#486543
Office Phone: 616-802-3921

Old National Bank

5601 Wilson Ave SW
Grandville, MI 49418

About Sarah

Sarah credits her clients for her love of the industry. Looking back over 24 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.

Current Mortgage Rates

Conventional
Term Rate APR
15 Year Fixed 3.250% 3.309%
30 Year Fixed 3.625% 3.658%
The above rate is based off of the following assumptions for your Conventional Loan:
  • Credit score 740 or higher
  • LTV 95% (5% down payment)
  • Loan amount of $230,000
  • $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 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 01/14/20 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.
Construction
Term Rate APR
Construction 15yr 3.000% 3.071%
Construction 30yr 3.375% 3.414%
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 up to $1,000,000
  • $1,050 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 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 01/14/20 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.
Jumbo
Term Rate APR
Jumbo 30 Year 3.500% 3.507%
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 $510,401 to $1,000,000
  • $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 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 01/14/20 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.
ARM
Term Rate APR
5/1 ARM 3.125% 3.883%
The above rate is based off of the following assumptions for your Conventional ARM Loan:
  • Credit score 740 or higher
  • LTV 95% (5% down payment)
  • Loan amount up to $484,350
  • $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 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 01/14/20 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 30 years with an initial interest rate of 3.250% with an annual percentage rate of 3.927%, 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 3.250% rate with a payment of $1,000.97, Year 6 at 5.250% rate with a payment of $1,230.89, Year 7 at 7.250% rate with a payment of $1,476.90 and Years 8-20 at 8.250% rate with a payment of $1,603.92. 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 Oct 22, 2019 is 1.967%. The current index plus Margin rounded to the nearest 0.125 is 4.250%. Any change may significantly impact your monthly payment.  Rate payment example does not include costs of mortgage insurance and taxes; therefore, the actual payment obligation will be higher.

FHA
Term Rate APR
FHA 30 Year 3.250% 4.286%
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)
  • Loan amount of $170,000
  • $850 origination fee and $6.70 flood certification fee. Additional closing costs apply
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 01/14/20 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.
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