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Sample Rates for Assumption Loans
For 700+ scores on lowest scoring borrower and a max debt ratio of 45%.
Other underwriting factors may apply. Second liens only. Maximum loan amount $350,000. Minimum loan amount $75,000. Closed End fixed rate loans only. Rates and fees are subject to change.
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| CLTV | Credit Score | 15 Year
Rate | 30/15 Balloon
Rate |
|---|
| Up to 90% |
700+ |
6.99% | 7.25% |
| 90.1 to 95% |
700+ |
7.25% | 7.50% |
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Add 0.5% to rates above for credit scores of 680-699
Add 1.0% to rates above for credit scores of 660-679
Add 0.5% to rates above for a previous bankruptcy (must be discharged 5+ years)
Add 0.5% to rate if either borrower is on a work visa
Examples
The payment on a $100,000 2nd lien with a 15 year fixed rate loan at 6.99% and a 90% CLTV is $898.27 (Principal & Interest Only). The Annual Percentage Rate is 7.646%.
The payment on a $100,000 2nd lien with a 30/15 fixed rate balloon loan at 7.25% and a 90% CLTV is $682.18 (Principal & Interest Only). The Annual Percentage Rate is 7.737%. The balloon payment after 179 payments would be $75,410.30.
The payment on a $100,000 2nd lien with a 15 year fixed rate loan at 7.25% and a 95% CLTV is $912.86 (Principal & Interest Only). The Annual Percentage Rate is 7.911%.
The payment on a $100,000 2nd lien with a 30/15 fixed rate balloon loan at 7.50% and a 95% CLTV is $699.21 (Principal & Interest Only). The Annual Percentage Rate is 7.992%. The balloon payment after 179 payments would be $76,127.46.
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Assumption Loan Application » Click here to complete your online loan application, or call our office at 972-248-0200.
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Lien on us 1st for your 2nds!
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NMLS #1892899, TX-OCCC License #2779-12204
17304 Preston Road, Suite 620 Dallas, Texas 75252
Phone: 800.858.7343
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