• Rates are subject to change without notice due to market conditions and underwriting approval.
  • Geographic restrictions may apply.
  • The rate lock period for your rate is 30 days.
  • All rates shown assume that borrowers will provide full income documentation and there is no subordinate financing. Refinance rates assume rate/term refinance, not cash-out refinance.
  • APR assumes 15 days of prepaid interest.
  • Terms and conditions apply.
  • The monthly payment calculation includes only principal and interest (interest only if selecting an interest-only program). The calculation does not include property taxes, private mortgage insurance, hazard insurance (home insurance), and homeowner’s association dues.
  • Escrow/impound of property taxes and home insurance is required. Escrow waiver is available with costs. Please call for details.
  • Calculated closing costs do not include prepaid interests on new loan, local/state tax stamps, mortgage tax, intangible tax, outstanding tax, home insurance premium, private mortgage insurance, homeowner’s association dues, certifications/verifications, charges associated with loan payoff, and rate lock fees.
  • Lender fee $950, Appraisal fee $500 
  • Remember that we do not have all your information to give an accurate quote. Rates and fees are based on your actual situation. MCA offers a wide variety of loan options and you may still qualify for a loan even if your situation doesn’t match our assumptions. To get a personalized rate quote, please call (800) 974-4434 and talk to one of our mortgage loan consultants.
30-Year Fixed-Rate Mortgage:The payment on a $200,000 30-year Fixed-Rate Loan at 3.500% and 80% loan-to-value (LTV) is $898.09 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.513%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
15-Year Fixed-Rate Mortgage:The payment on a $200,000 15-year Fixed-Rate Loan at 2.875% and 80% loan-to-value (LTV) is $1,369.17 with 0 points due at closing. The Annual Percentage Rate (APR) is 2.898%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
Adjustable-Rate Mortgage:  All of our ARM’s (adjustable rate mortgages) are 30 year loans. They have an initial (introductory rate) fixed and fully amortized during the fixed rate period. At all times these loans will be fully amortizing loans paying off in 30 years.Whatever ARM you select (3/1,5/1,7/1or 10/1) all of these loans have a fixed rate which is fully amortizing during the locked period you take.
Example:
The initial payment on a 5/1 fixed rate loan with a fixed rate of 3.125%. A loan amount of $200,000 (80% loan to value) would provide a monthly payment of $856.75 with 0 origination points.  The Annual Percentage Rate (APR) is 3.184% and this is fully amortized. After the initial 5 years, the principal and interest payment is subject to a potential increase but may not adjust more than two percent over the initial fixed. This would be a fixed and fully amortized rate. The adjustment would be based on 1-year LIBOR index plus 2.25% margin at that time. Your initial adjustment cap cannot be more than two percentage rate higher than the initial rate during the fixed-rate period and the lifetime adjustment cap is five percent, meaning that the rate can never be five percent higher than the initial rate (8.125%). The payment shown does not include taxes and insurance premiums. The actual payment amount will be greater when factoring in your taxes and insurance. The loan does is not a negative ARM and will payoff over 30 years.
Conforming Loans:The rates assume for both purchase and refinance with amount of $165,000 to $417,000 with 20% down payment. *Maximum loan amount vary by geographic location. The rate shown assumes detached single family home and will be used as a primary residence; credit score is 740 or higher. An escrow (impound) account is required and rate lock period is 30 days. Quotes are for “no cash-out” loans. Rates are good as of the survey date but may change without notice. The rate, terms, pre-paid finance charges and APR may vary based on a number of factors including, not limited to, the creditworthiness of the applicant(s), condo or townhouse structure, loan amount and geographic location of the property. Annual Percentage Rate (APR) is based on loan amount of $300,000 includes 15 days of prepaid interest.
High Balance Conforming Loans: The rates assume for both purchase and refinance with amount of $417,001 to $625,500 with 20% down payment. *Maximum loan amount vary by geographic location. The rate shown assumes detached single family home and will be used as a primary residence; credit score is 740 or higher. An escrow (impound) account is required and rate lock period is 30 days. Quotes are for “no cash-out” loans. Rates are good as of the survey date but may change without notice. The rate, terms, pre-paid finance charges and APR may vary based on a number of factors including, not limited to, the creditworthiness of the applicant(s), condo or townhouse structure, loan amount and geographic location of the property. Annual Percentage Rate (APR) is based on loan amount of $500,000 includes 15 days of prepaid interest.
Jumbo Loans: The rates assume for both purchase and refinance with amount of $625,501 to $1,000,000 with 20% down payment. *Maximum loan amount vary by geographic location. The rate shown assumes detached single family home and will be used as a primary residence; credit score is 740 or higher. An escrow (impound) account is required and rate lock period is 30 days. Quotes are for “no cash-out” loans. Rates are good as of the survey date but may change without notice. The rate, terms, pre-paid finance charges and APR may vary based on a number of factors including, not limited to, the creditworthiness of the applicant(s), condo or townhouse structure, loan amount and geographic location of the property. Annual Percentage Rate (APR) is based on loan amount of $700,000 includes 15 days of prepaid interest. Please contact us for loan-to-value (LTV) ratio and interest rate for loan amount exceeding $1million up to $2million.
FHA Loans: Government loans are not limited to first-time homebuyers. Some jumbo FHA products may not be available to all borrowers. The rates assume for both purchase and refinance with 3.50% down payment. *Maximum loan amount vary by geographic location. The rate shown assumes detached single family home and will be used as a primary residence; credit score is 660 or higher. An escrow (impound) account is required and rate lock period is 30 days. Quotes are for “no cash-out” loans. Rates are good as of the survey date but may change without notice. The rate, terms, pre-paid finance charges and APR may vary based on a number of factors including, not limited to, the creditworthiness of the applicant(s), condo or townhouse structure, loan amount and geographic location of the property. Annual Percentage Rate (APR) is based on loan amount of $300,000 includes 15 days of prepaid interest. The loan to value (LTV) rate is 96.5%. PMI will be added to your monthly mortgage payment. For FHA Case Numbers assigned on or after June 11, 2012, the up-front mortgage insurance premium will be 1.75%. This loan also requires an annual premium of 1.25% to be remitted monthly. These values assume the transaction is refinancing an existing FHA loan endorsed after May 31, 2009. If that timeframe is incorrect for this transaction, the UFMIP will be 0.01%, with an annual premium of 0.55%. Please contact the Lender for additional information. Credit issues: Previous mortgage foreclosure – A borrower who suffered a foreclosure or has given a deed-in-lieu of foreclosure within the previous 3 years is generally not eligible for an insured mortgage. A borrower whose bankruptcy has been discharged less than 1 year generally is not eligible for FHA mortgage insurance. Please consult with FHA loan specialist about your current circumstance for qualification.