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The rates shown here assume a loan size of $350,000 for a primary occupancy single family home in CA, loan to value of 80%, no cash out, rate lock period of 45 days, and a credit score of 720 or higher. Monthly payments do not include property taxes and insurance. Your actual rate may be higher or lower than those shown based on information relating to these factors as determined after you apply.
These rates are valid as of Dec 11, 2019 @ 12:22 AM EST.
Cost is additional money paid at closing that may lower the rate for the life of the loan. These costs are also known as “points”. Typically, a one-point fee is equivalent to one percent of the loan amount.
Credits result in higher rate for the life of the loan in order to receive credit to help cover closing costs. Credits cannot exceed closing costs.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products, personal loans and mortgages that helps simplify lending through technology and personalized service. In April 2019, Laurel Road was acquired KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. The mortgage product is not offered in Puerto Rico. KeyBank is a Member FDIC, Equal Housing Lender. NMLS ID # 399797.
By gathering the most recent comparable sales that are most similar to the subject property both in square footage, style and location.
Yes, Laurel Road is a direct lender, which means we support borrowers throughout the entire loan process and provide funds at closing.
The home inspection is an evaluation of the condition of the property, while the appraisal is an evaluation of the value of the property.
Key Bank will service your loan, but reserves the right to transfer the servicing of your loan after closing. If we sell your loan, we will notify you of your new servicing lender before your first payment is due.
You will be provided with payment instructions in the closing package.
1 Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but also may increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.
†The Annual Percentage Rate (APR) is the cost of credit over the term of the loan expressed as an annual rate. The APR shown is based on interest rate, points and certain estimated finance charges. APR is for informational purposes only and is subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, credit score, loan to value, refinance with cash out, state specific fees, and other variables.
‡Adjustable rate mortgage (ARM) interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10 years for a 10/1 ARM). ARM rates assume no increase in the financial index after the initial fixed period. ARM rates and monthly payments are subject to increase after the fixed period: ARMs assume a 30-year term. For more information on ARMS please view the Consumer handbook on adjustable-rate mortgages (CHARM) booklet here.
NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. Information and offer are subject to change without notice. All loans are subject to credit and collateral approval.
Lender complies with the Federal Fair Housing Act. Lender does not engage in business practices that discriminate on the basis of race, color, national origin, religion, sex, disability, marital status or family status (including having children under the age of 18 and pregnant women). Lender also does not discriminate because all or part of your income may be derived from a public assistance program or because you have in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that monitors Lender’s compliance with the Federal Fair Housing Act is the Office of the Comptroller of the Currency.
As used throughout this Rewards Program Disclosure (“Disclosure”), the terms “Lender”, “we”, “us”, and “our” mean KeyBank National Association. By using the Site, you are accepting the terms of the Rewards Program and this Disclosure as described herein, and as amended from time to time.
Lender offers applicants the opportunity to participate in a reward-based program (the “Rewards Program”) throughout the Lender’s mortgage loan application process using the Lender’s online mortgage platform or Site. Through the Rewards Program, applicants may have the opportunity to accrue points that will be redeemable and applied towards costs at closing.
The accrued points are earned by choosing certain specified options to complete the mortgage loan application process. The most cost effective and efficient tasks lead to the greatest amount of points. When you close your mortgage, the total amount of points earned are awarded and then converted into a lender credit. The dollar amount of the lender credit is then applied toward eligible non-recurring closing costs or disclosed fees.
Your participation in the Rewards Program is voluntary, and is expressly conditioned on compliance with the Rewards Program Rules and with all present and future Program Rules, terms, regulations, policies, and procedures that Lender may, in its discretion, adopt from time to time.
ACCRUING POINTS AND/OR CHOOSING CERTAIN SPECIFIED OPTIONS TO COMPLETE THE MORTGAGE APPLICATION PROCESS DOES NOT AFFECT THE REVIEW OF THE BORROWER’S MORTGAGE APPLICATION, LENDER’S ULTIMATE DECISION REGARDING THE BORROWER’S MORTGAGE APPLICATION, OR ANY TERM OF A LOAN OFFERED BY LENDER OTHER THAN A REDUCTION OF NON-RECURRING CLOSING COSTS OR DISCLOSED FEES.
This information is current as of November 1, 2019 and is subject to change.