Mortgage Rates

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Loan Purpose:
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Property Use:
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Amount:
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City:
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Purchase Price:
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County:
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Property Type:
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Est. Credit Score:
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Please note that the interest rate and fees shown here are available to borrowers with an excellent credit history. The actual interest rate and fees available to you will be based on your credit history and may be different than the rates displayed here.



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Rate The interest rate shown is the actual interest rate that will be used to calculate your monthly payment.  Please note that the interest rate cannot be guaranteed until you complete our on-line loan application and your loan is approved.  If the loan type is an adjustable rate mortgage (ARM), the interest rate is subject to increase over the life of the loan.

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APR To make it easier for consumers to compare mortgage loan interest rates, the federal government developed a standard format called an "Annual Percentage Rate" or APR to provide an effective interest rate for comparison shopping purposes.  Some of the costs that you pay at closing are factored into the APR for ease of comparison.  Your actual monthly payments are based on the interest rate, not the APR.
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Points Points are a charge by a lender in order to provide a lower interest rate.  Each point is 1% of the loan amount.  For comparison purposes, we have included the cost of the points in the closing fees column.  Please note, that until you lock in an interest rate, points are subject to change.

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Principal & Interest The payment amount shown is the total principal and interest payment required to repay the loan plus any mortgage insurance premium if applicable.  If an escrow(impound) account is established for the payment of real estate taxes, the actual monthly payment required will include the monthly escrow amount.

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Closing Fees Closing Fees is an estimate of the costs that are required to obtain a mortgage.  We've spent a lot of time researching all areas of the country to make sure that our fee estimates are as accurate as possible.  There won't be any surprises at closing!

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At a {{prd.rate | number:3}}% initial interest rate, the APR for this loan type is {{prd.apr | number:3}}%, subject to increase. Based on current market conditions, the payment schedule would be:
  • {{sch.Count}} payment{{sch.Count>1 ? 's' : ''}} of {{sch.Amount | currency:currencySymbol}} at an interest rate of {{sch.Rate | number:3}}%
This payment schedule is based on a {{ LoanAmount | currency:currencySymbol }} loan on a {{PurchasePrice | currency:currencySymbol}} property in {{County.Selected.label}} County, {{States.Selected.label}}.
The payment amount quoted contains the amount required to pay back your loan, also known as "principal and interest" as well as the mortgage insurance premium.
Generally, mortgage insurance is required if you are making a downpayment of less than 20% of the home's value or purchase price.
  • Payment: {{ prd.principalAndInterestPayment | currency:currencySymbol }}
  • Mortgage Insurance Premium: {{ prd.mortgageInsurancePayment | currency:currencySymbol }}
  • Total {{ prd.total | currency:currencySymbol }}
If an escrow account is required or requested, the actual payment will also include amounts for real estate taxes and homeowner's insurance premiums.
 




  • Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan. The information provided above reflects estimates of only some of the charges which you are likely to incur at your loan closing. The fees listed are estimates and the actual charges may be more. Your transaction may or may not involve a fee for every item listed. These estimates are provided to you as a courtesy, and none of the terms contained in this document are guaranteed or binding on us. This document does not constitute an offer to extend credit.
  • This closing fees estimate only includes the fees for items that are required by Valley National Bank and are typically paid by the purchaser. Fees that are typically the expense of the seller are not included. Review your sales contract to verify if you are responsible for any items that are not listed above. Examples include certain Transfer Taxes, based on the transaction, state, etc.
  • The credit or charge (points) shown above are not guaranteed.
  • Appraisal Fee may be higher based on property type, use, and the property value.
  • This fee estimate does not include advances that may be required at closing, such as interest due at closing or initial deposits for escrow accounts, if applicable.
  • Closing costs based on information you provided are subject to change until rate is locked.