Rate Quote and Other Disclosures
RATE QUOTE ASSUMPTIONS
All rates assume that you are buying or refinancing an owner-occupied single family home, all borrowers have credit scores of 760 or higher, debt-to-income ratios of 40% or lower, asset and reserve requirements are met, and your property has a loan-to-value of 75% or less. The Annual Percentage Rate (APR) is based on a loan amount of $400,000 and may include up to 3 points (Points include any origination, discount and lender fees).
As quoted, the 7/1 ARM is an Adjustable Rate Mortgage with a 30-year fully amortizing term. The initial interest rate quoted is for 84 months. After the initial 84-month period, the variable interest rate and payment will adjust every year and equal the total of the 12-month LIBOR index plus a margin of 2.250%. The mortgage rate can adjust by up to 5% after the first year, and then change by up to an additional 2 percentage points each year until a lifetime maximum adjustment of 5% over your initial note rate is reached. There is no prepayment penalty.
Rates, loan products and fees are subject to change without notice. Your rate and term may vary. If you do not lock in a rate when you apply, your rate at closing may differ from the rate in effect when you applied. Subject to underwriting approval. Not all applicants will be approved. Full documentation and property insurance required. Loans will be secured by a lien against your property. Not available in all states. Consolidating or refinancing debts may increase the time and/or the finance charges/total loan amount needed to repay your debt. Terms, conditions and restrictions apply. Call Newfi for details at 888-316-3934.
EQUAL HOUSING LENDER
We conduct business in accordance with the Federal Fair Housing Law (Fair Housing Amendments Act of 1988). It is illegal to discriminate against any person because of race, color, religion, sex, handicap, familial status, or national origin:
- In the sale or rental of housing
- In advertising the sale or rental of housing
- In the financing of housing
- In the provision of real estate brokerage service
- In the appraisal of housing
- Blockbusting is also illegal
Anyone who feels he or she has been discriminated against may file a complaint of housing discrimination: 1-800-669-9777 (toll free), or 1-800-927-9275 (tdd), or send to:
Office of Fair Housing and Equal Opportunity
Department of Housing and Urban Development
451 Seventh St. SW
Washington, DC 20410-2000
EQUAL HOUSING OPPORTUNITY STATEMENT
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
FAIR LENDING POLICY
It is the policy of Nexera Holding LLC dba Newfi Lending to treat all mortgage loan borrowers in compliance with all applicable fair lending laws, including, without limitation, the Equal Credit Opportunity Act and the Fair Housing Act. All of our products will be made available to qualified applicants without discrimination on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, marital status, age (provided the applicant has the legal capacity to enter into a binding contract), handicap, receipt of public assistance, good faith exercise of rights under the federal consumer protection act, or any other basis protected by applicable law.
THE HOUSING FINANCIAL DISCRIMINATION ACT OF 1977, CALIFORNIA FAIR LENDING NOTICE
It is illegal to discriminate in the provision of or in the availability of financial assistance because of the consideration of:
Trends, characteristics, or conditions in the neighborhood or geographic area surrounding a housing accommodation, unless the financial institution can demonstrate in the particular case that such consideration is required to avoid an unsafe and unsound business practice.
Race, color, religion, sex, marital status, national origin, or ancestry.
It is illegal to consider the racial, ethnic, religious, or national origin composition of a neighborhood or geographic area surrounding a housing accommodation, or whether or not such composition is undergoing change, or is expected to undergo change, in appraising a housing accommodation or in determining whether or not, and under what terms and conditions, to provide financial assistance. These provisions govern financial assistance for the purpose of the purchase, construction, rehabilitation, or refinancing of one- to four-unit family residences occupied by the owner and for the purpose of the home improvement of any one to four-unit family residence.
If you have any questions about your rights, or if you wish to file a complaint, contact the management of this financial institution or:
Department of Business Oversight
320 West 4th Street, Suite 750
Los Angeles, CA 90013-1105
IMPORTANT INFORMATION ABOUT OBTAINING A MORTGAGE LOAN
To help us prevent fraud and to assist the government in fighting the funding of terrorism and money laundering activities, we are obtaining, verifying, and recording information that identifies each person who applies for and/or obtains a mortgage loan. What this means for you: When you apply for and/or obtain a mortgage loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.