Mortgages

Details you need to make a smart decision

General Disclosures

• All loan applications are subject to Borrower eligibility, Loan Program requirements, and Underwriting approval.
• Interest Rates, including those published or quoted, are not guaranteed until Locked in.
• Locked Interest Rates are subject to the terms of the Lock Agreement.
• Interest Rates subject to change without notice.
• Additional Loan Products / Programs and Pricing options may be available (e.g. FHA, VA, USDA, etc.).
• Other terms, conditions, and restrictions may apply.
• On some products, CGF offers discounted rates to borrowers who obtain a qualified CGF bank account and establish a monthly auto debit of their mortgage account from that account.  For qualifying mortgage products, the rates displayed reflect this auto debit rate reduction.  Please consult with one of our loan officers for further details.
• All examples assume that this loan will be in first lien position.
• If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. The payment amount does not include homeowner's insurance, flood insurance (if applicable), or property taxes which must be paid in addition to your loan payment.
• The displayed Annual Percentage Rate (APR) is a measure of the cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees (such as mortgage insurance, discount points, etc.). For home equity lines, the APR simply reflects the interest rate. When shopping for a mortgage, you can use the APR to compare the costs of similar loans between lenders.
• Interest rates and annual percentage rates (APRs) are based on current market rates, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score, refinance with cash out and other variables—call for details. This is not a credit decision or a commitment to lend.
• Additional closing costs may apply. Refer to your Loan Estimate (LE) for specific details.

Conventional Products

• This is a Purchase Transaction of an Owner-Occupied, Single-Family Primary Residence;  Detached 1-Unit Property in Jefferson County, Alabama.
• The Loan Amount is $200,000, with an Appraised Value of $250,000, at approximately 80% Loan-to-Value (20% Down Payment). No secondary/subordinate financing.  
  
• An ESCROW Account for the payment of Property Taxes and Homeowner's Insurance will be established with this loan. Escrows are not waived.
• The Median Credit Score used in this example is 720.
• Debt-to-Income Ratio is less than or equal to 45%.
• The Lock Commitment Period for this Interest Rate is 45 Days.
• Discount Points for this Interest Rate are the closest available option to 1.00.

Jumbo Products

• This is a Purchase Transaction of an Owner-Occupied, Single-Family Primary Residence;  Detached 1-Unit Property in Harris County, Texas.
• The Loan Amount is $660,000, with an Appraised Value of $880,000, at approximately 75% Loan-to-Value (25% Down Payment). No secondary/subordinate financing.  
• An ESCROW Account for the payment of Property Taxes and Homeowner's Insurance will be established with this loan. Escrows are not waived.
• The Median Credit Score used in this example is 740.
• Debt-to-Income Ratio is less than or equal to 43%.
• The Lock Commitment Period for this Interest Rate is 45 Days.
• Discount Points for this Interest Rate are the closest available option to 1.00.

Definitions

• "Conventional" Products refer to those mortgage applications with Loan Amounts less than or equal to $453,100 in most counties.
• "Jumbo" Products refer to those mortgage applications with Loan Amount greater than $453,100.
• Fixed Rate Mortgage - The Interest Rate is fixed for the life of the loan. The Monthly Principal & Interest Payment cannot change.