Interest Rate Scenario

Conventional Guidelines:

*Owner occupied home

*Credit score of 740 or higher

*Single family residence (non condo)

*Purchase or Refinance with 20% down or equity

*Full document (income & asset documentation required)

*Rates based on 45 day lock

*No rate lock fee

*No prepayment penalty

*Impounds included (property taxes & insurance)

*Fixed loan terms or Adjustable Rate Mortgage

 ARM Consumer Handbook

Government Guidelines:

*Owner occupied home

*Credit score of 620 or higher

*Single family residence (non condo)

*Full document (income & asset documentation required)

*Rates based on 45 day lock

*No rate lock fee

*No prepayment penalty

*Impounds included (property taxes & insurance)

*Fixed loan terms