• Today's Rates - 9/3/2010

    The following are rates for 3 scenarios. Rates are scenario specific. If you do not see your scenario, contact us and we will be happy to go over it with you.

    3.125% (3.482% APR) - 5/1 ARM - $150,000 to $417,000 loan amount - single family residence - primary residence - 20% equity required - minimum 740 FICO - one point origination fee

    4.25% (4.362% APR) - conventional loan - 30-year fixed - $200,000 to $417,000 loan amount - single family residence - primary residence - 20% equity required - minimum 740 credit score - one point origination fee

    4.25% (5.354% APR ) - FHA loan - 175,000 to $346,250 loan amount - Maricopa County - 30-yr. fixed - minimum 740 credit score - single family residence - primary residence - one point origination fee

    Rates are subject to change without notice

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  • Daily Updates of Mortgage Products and Programs
    The Mortgage News provides daily updates of rates and programs. Visit this daily to keep up-to-date on the mortgage market.

  • Minimum Credit Score
    The minimum credit score needed for any residential loan is 620

  • Down Payment Requirements
    The following are the minimum down payment requirements and the respective loan programs. Contact us to see if you qualify

    The following are for the purchase of a primary residence:

    No down payment: VA and USDA

    3.5% down payment: FHA

    5% down payment: Conventional loans (up to $417,000 loan amount, 720 credit score required)

    20% down payment: Jumbo loans (i.e. over $417,000 loan amount) up to a $2,000,000 loan amount

    Minimum down payment for a second/vacation home:

    10% down payment: conventional loans up to $417,000, 720 credit score required

    Contact us for jumbo loans

    Minimum down payment for investment property:

    20% down payment: conventional loans up to $417,000

    Contact us for jumbo loans

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Mortgage News
Copyright © 2009 Counsel Mortgage Group®, LLC.
All rights reserved.
Counsel Mortgage Group®, LLC.

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

The calculations for PMI and taxes are estimates only. The actual amounts will vary depending on your individual circumstances. If you simply want to calculate the monthly payment and amortization of a loan amount and do not know the down payment, enter the loan amount in sales price and zero in down payment. Click on calculate and you will receive the monthly payment and amortization for that loan amount.

Purchase & Financing Information
Sale Price of Home: (In Dollars)
Percentage Down: %
Length of Mortgage: years
Annual Interest Rate: %
Explain Calculations: Show me the calculations and amortization
 



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Counsel Mortgage Group®, LLC. | 8700 E. Pinnacle Peak Rd. | Suite 224 | Scottsdale, AZ 85255
phone# (480) 502-1000 | fax# (480) 240-1357 | toll free# (877) 703-1555 | MBR# 0909580