The APR is calculated according to a mathematical formula set up by the Federal Government to give consumers a method for comparing mortgage offers, even when the rates, points, and costs differ. Do you know what the APR means to you?
Click here to understand APR.
Shopping for a loan without understanding the APR is like shopping for a car with the sticker prices listed in foreign currencies and you don't know the currency exchange rates!
The average rate with No Points and No Fees that other mortgage brokers and banks are charging today for a 30 Year Fixed Rate is 6.50%
The monthly difference between the rate 6.00% ( $2,500.13 payment) and the 6.50% rate ($2,635.72 payment) charged by other lenders would be $135.59 per month higher. If on your own, you decide to add the Accord Loans monthly savings to your regular mortgage payment it would save you over 46 monthly payments and save you over $121,243 on your mortgage payments.
You would save almost 4 years of mortgage payments.
That is 46 monthly mortgage payments x $2,635.72 = $121,243 Savings
Make sure to use the services of Free Way RE and Accord Loans to purchase your home. It could be the key to your home ownership financial success. Contact us now to get Pre-Qualified for a Free Home Loan and to get a Guaranteed Rate and APR Quote for your home purchase.
By law, the APR must be disclosed when quoting an actual interest rate. The APR is disclosed in the Truth-In-Lending Disclosure Statement. The estimated loan charges are included in the Good Faith Estimate. The key word is estimate, so many brokers and lenders can promise one thing and deliver another.The Free Cash is based on a $1,000,000 purchase transaction with the customary real estate sales commission of 2.5% to the Buyer's Broker. Loan amounts, Free Cash, programs, interest rates, credit, income, and property restrictions apply. Programs, Free Cash, rates, and terms are subject to change without notice. Licensed under CA Department of Real Estate. Broker license # 01250372.
