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Rates Effective December 20, 2016 9:30 AM EST

December 20th, 2016

Rates Effective December 20, 2016 9:30 AM EST

No origination on all posted rates

Conforming loans $417,000 and under

30-Year Fixed 4.250% (4.339%APR)

15-Year Fixed 3.500% (3.649% APR)

Lender Paid Private Mortgage Insurance

30 Year Fixed 90% 4.500% (4.591% APR)

30 Year Fixed 95% 4.625% (4.717% APR)

Jumbo Loans over $417,001 and over

30-Year Fixed 4.375% (4.420% APR)

15-Year Fixed 3.875% (3.950% APR)

Adjustable Rate Mortgages fixed first 7 years

Conforming loans $417,000 and under

7-1 ARM 3.750% (3.961% APR)

FHA (Federal Housing Authority)

30 year 4.000% (5.061% APR)

For VA or other programs call or email John (See contact information below)

Actual payments will vary based on your individual situation and current rates. The above rates are subject to change.

• Some products may not be available in all states.
• Jumbo Rates (loans over $417,000) not be available to first time home buyers.
• Lending services may not be available in all areas.
• Some restrictions may apply.
• Based on the purchase/refinance of a primary residence with no cash out at closing.
• We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 740; and an escrow account for the payment of taxes and insurance.
• The lock period for your rate is 30 days.
• The loan to value (LTV) ratio is 70%. If LTV > 80%, PMI will be added to your monthly mortgage payment for all conventional loans.
• ARM (adjustable Rate Mortgage) loans are variable rate loans; interest rates and payments may increase after consummation. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index. Any change may significantly impact your monthly payment. Since the index in the future is unknown, the First Adjusted Rates displayed are based on the current index plus the margin (fully indexed rate) at time of scenario/disclosure. For conforming and jumbo ARM interest rates, at adjustment your new mortgage rate will be the average of the Interbank Offered rates for one-year, U.S. dollar-denominated deposits in the London Market(LIBOR) as published in the Wall Street Journal, plus a Margin of 2.25% subject to annual and lifetime adjustment caps.
• Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. National Bank of Commerce offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (205) 266-5669 to talk to John Marbury.
• 30-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 30-year Fixed-Rate Loan at 4.250% and 70% loan-to-value (LTV) is $969.30 with 0 points due at closing. The Annual Percentage Rate (APR) is 4.339%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
• 15-Year Fixed-Rate Mortgage: The monthly payment on a $200,000 15-year Fixed-Rate Loan at 3.500% and 70% loan-to-value (LTV) is $1429.77 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.649%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply
• 30-Year Fixed-Rate Mortgage with Lender Paid PMI:  The monthly payment on a 30-year Fixed-Rate Loan at 4.500% and a 90% loan-to-value (LTV) is 1013.37 with 0 points due at closing.  The Annual Percentage Rate (APR) is 4.591%.  Payment does not include taxes and insurance premiums.  The actual payment will be greater.  Some state and county maximum loan amount restrictions may apply
• 30-Year Fixed-Rate Mortgage with Lender Paid PMI:  The monthly payment on a $200,000 30-year Fixed-Rate Loan at 4.625% and a 95% loan-to-value (LTV) is $1028.28 with 0 points due at closing.  The Annual Percentage Rate (APR) is 4.717%.  Payment does not include taxes and insurance premiums.  The actual payment will be greater.  Some state and county maximum loan amount restrictions may apply.
• 30-Year Fixed-Rate-Jumbo: The monthly payment on a $500,000 30 year Fixed-Rate loan at 4.375 and a 70% loan to value (LTV) is $2496.43 with 0 points due at closing. The Annual Percentage Rate (APR) is 4.420%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
• 15-Year Fixed-Rate-Jumbo: The monthly payment on a $500,000 15-Year Fixed-Rate Loan at 3.875% and a 70% loan to value (LTV) is $3,667.20 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.950%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
• 7-1 30 year ARM for $200,000 with an Initial Interest Rate of 3.750% (3.780% APR) your monthly payments for years 1 – 7 would be $926.23 and for years 8-30 monthly payments would be $949.27 (based on the current Index of 1.6996% Plus Margin of 2.25% to $417,000). Monthly payments do not include taxes and insurance and the actual payment obligation will be greater. Your variable interest rate is subject to a floor of your Initial Interest Rate. Your variable interest rate can increase or decrease after the seventh year by 2 percentage points annually and can increase 4 percentage points over your Initial Interest Rate over the term of your loan. The index for this loan program is the average of the interbank Offered Rates for One Year Denominated Deposits in the London Market (LIBOR)
• 30 year FHA Fixed-Rate Mortgage: The monthly payment on a $200,000 30 FHA Fixed-Rate Mortgage at 4.000% and a 96.5% loan to value (LTV) is $926.23 with 0 points due at closing. The Annual Percentage Rate is 5.061%. Payment does not include taxes, insurance premiums and mortgage insurance premium (MIP). The one time up front (MIP) is 1.75% of the base loan amount and a monthly MIP calculated at 1.35% of the base loan amount. Monthly MIP will be paid from the first payment till the loan is paid off. Some state and county maximum loan amount restrictions may apply.