Peak Home Loans rate's disclosure.

Rate Disclaimer

  1. The best rate is currently 2.75% for qualified consumers2.  A $100,000.00 loan for $408.25 per month is for an initial 5-year term of 2.75% (2.99 APR) amortized over 360 months.  The rate may increase or decrease after the initial 5-year term, and payments may be higher in subsequent years.  If the interest rate adjusted to the maximum rate after the fifth year, the monthly payment at that time would be approximately $522.00.

  2. 4 out of 5 applicants approved / qualify refers to customers who have passed an initial credit review - typically having a middle FICO score of 721 or better, no foreclosures, no bankruptcies, no 30-day or more late payments, and an initial down payment of 20%.

  3. The rate of 2.75% is a real loan, this is not a bait-&-switch or come on.  2.75% = 2.99% APR assuming the initial interest rate is fixed for 5 years. The disclosed APR is based on one point six two five (1.625) origination points plus $1,200.00 in prepaid charges due at closing.  The total closing costs for a $100,000.00 loan would be $2,825.00.  These low closing costs can be added into your new loan and you would pay NO ($0.00) closing costs (except for the down payment if purchasing).  These are among the lowest closing fees in the industry.

  4. Your break-even point for refinancing from a current 6.00% loan to this loan would be approximately ten (10) months.  Over the first 5 years, your monthly savings would be approximately $178.00 per month, and your total savings would be approximately $6,500.00.

Thank you,
Peak Home Loans