Sample
Truth in Lending Disclosures for CalHFA Conventional First Mortgage
Loans
Loan Type |
30-Yr Fixed
Mortgage |
ECTP |
Loan Amt |
$ 285,000 |
$ 285,000 |
Term |
30 yr
(360 mos) |
30 yr
(360 mos) |
| Interest Rate* |
6.750% |
6.750% |
| APR* |
7.6509% |
7.6509% |
| Estimated Monthly Pmt** |
$2,462.26 |
$2,462.26 |
*Interest rate is for
comparison only. Sample APRs include typical finance charges, such
as lender fees and mortgage insurance. This sample is for illustrative
purposes only. It does not reflect any specific loan's terms. APRs
quoted by approved CalHFA private lenders may vary.
**The estimated payment amount includes estimated
taxes, property and/or mortgage insurance. Lenders usually require
these amounts to be included in the monthly payment.
***$2,462.26 is the estimated monthly payment
for years 6 through 35. It includes principal and interest, and
estimates for taxes and insurance, using current year information.
|
Sample Truth in Lending Disclosures for Down
Payment Assistance Loans
| 30-Year (360 Months) Loans |
| Loan Type |
HiCAP |
CHAP |
CHDAP |
ECTP |
| Loan Amt |
$12,000 |
$6,000 |
$9,000 |
$7,500 |
| Interest Rate* |
7.0000% |
7.0000% |
3.2500% |
5.2500% |
| APR* |
3.8567% |
3.9288% |
2.3677% |
3.2760% |
| |
| 35-Year (420 Months) Loans |
| Loan Type |
HiCAP |
CHAP |
CHDAP |
ECTP |
| Loan Amt |
$12,000 |
$6,000 |
$9,000 |
$7,500 |
| Interest Rate* |
7.0000% |
7.0000% |
3.2500% |
5.2500% |
| APR* |
3.6120% |
3.6739% |
2.2558% |
3.0859% |
| |
| 40-Year (480 Months) Loans |
| Loan Type |
HiCAP |
CHAP |
CHDAP |
ECTP |
| Loan Amt |
$12,000 |
$6,000 |
$9,000 |
$7,500 |
| Interest Rate* |
7.0000% |
7.0000% |
3.2500% |
5.2500% |
| APR* |
3.4026% |
3.4567% |
2.1573% |
2.9218% |
*Interest rate is for comparison only.
Sample APRs include typical finance charges, such as lender fees.
APRs quoted by approved CalHFA private lenders may vary.
This sample is for illustrative purposes only. It does not reflect
any specific loan's terms.
09/17/08 |
|
