MOR Heloc
HELOC/Closed End Seconds
Effective:01/22/2007
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Home Equity Line of Credit Base Margins (HELOC)
FULL DOC
<=70% CLTV 70.01 - 80% CLTV 740+ 0.500 0.500 0.500 1.125 1.500 720-739 0.500 0.500 0.625 1.250 1.625 700-719 0.500 0.500 0.750 1.250 1.625 680-699 0.500 0.500 0.750 1.500 1.750 660-679 0.750 0.875 1.000 3.625 4.000 640-659 1.250 1.750 3.000 4.500 n/a 620-639 2.250 2.750 4.250 5.250 n/a
HELOC 10/10
80.01 - 90% CLTV 90.01 - 95% CLTV 95.01 -100% CLTV***
STATED INCOME
<=70% CLTV 70.01 - 80% CLTV 740+ 0.750 0.750 0.750 1.250 1.500 720-739 0.750 0.750 0.750 1.500 1.625 700-719 0.750 0.750 1.000 1.625 1.625 680-699 1.250 1.250 1.250 2.500 1.750 660-679 1.250 1.250 2.500 3.750 4.000 640-659 2.500 3.000 4.250 n/a n/a 620-639 n/a n/a n/a n/a n/a
HELOC 10/10
80.01 - 90% CLTV 90.01 - 95% CLTV 95.01 -100% CLTV***
***Purchase Only
HELOC Margin Adjustments
Adjustment Line Amount < $25,000 Line Amount $150,000-$249,999 Line Amount >=$250,000 DTI >45% Second Home Investment Property All 1st lien Pay Option Arm (Neg Am) Start Rate for 1st month after closing on all HELOCs Fully Indexed Rate = Prime Rate + Margin Margin 1.000 -0.250 -0.375 0.250 0.250 0.500 0.500 4.990
Margin Floor: 0.750%
Prime Rate HELOC Highlights
- 1st liens now available in - Minimum payments are "interest only" or $100, whichever is greater - Platinum credit card access included along with blank checks - Qualify using Interest Only payment - Refer to Lending Guide for additional program guidelines and restrictions - No gross-up calculation up to 95% CLTV behind all Pay Option ARMs with maximum potential negative amortization up to 125%
8.250 Additional HELOC Program Guidelines
- Early Termination Fee: $500 if closed within first 3 years, or as applicable by state law - Annual fee is $75, waived the first year
Closed End Seconds Base Rates
FULL DOC
Par Price Based on 45 day Best Effort <= 80% CLTV 30/15 Fixed 80.01-90% CLTV 15/15 Fixed 90.01-95% CLTV (0 Yr PPP) 740+ 7.375 7.875 8.375 720-739 7.500 8.000 8.500 700-719 8.000 8.125 8.625 680-699 8.125 8.500 9.250 660-679 8.625 9.125 9.875 640-659 9.750 11.125 11.625 620-639 11.250 12.000 12.375
STATED INCOME
Par Price Based on 45 day Best Effort <= 80% CLTV 30/15 Fixed 80.01-90% CLTV 15/15 Fixed 90.01-95% CLTV (0 Yr PPP) 740+ 8.000 9.000 9.500 720-739 8.125 9.125 9.625 700-719 8.375 9.250 9.750 680-699 9.125 10.000 10.625 660-679 9.875 10.875 11.750 640-659 9.875 11.625 13.000 620-639 11.375 12.875 13.750
NO RATIO
Par Price Based on 45 day Best Effort <= 80% CLTV 30/15 Fixed 80.01-90% CLTV 15/15 Fixed 90.01-95% CLTV (0 Yr PPP) 740+ 9.125 9.750 10.250 720-739 9.250 9.875 10.375 700-719 9.500 10.000 10.500 680-699 9.750 10.875 11.500 660-679 10.250 11.125 12.000 640-659 10.875 12.500 13.625 620-639 12.375 13.375 14.625
Closed End Second Rate Adjustments Adjustment
3-4 units Loan Amount < $20,000 Loan Amount >= $100,000 FICO >=680 All 1st lien Pay Option ARM (Neg Am) - (Concurrent Only)
Additional Closed End Second Program Guidelines Rate
0.500 0.500 -0.250 1.000 -0.125 -0.250 -0.375 -0.500
>=660 or CLTV <=80%
2 Yr HARD PPP 3 Yr HARD PPP
- Concurrent table funding fee: $100 -The posted rates do not ensure that the loan will pass any federal or state predatory lending tests.This can only be determined on the date the loan is closed with all the applicable fees and costs.
<660 and CLTV >80%
2 Yr HARD PPP 3 Yr HARD PPP
Closed End Second Highlights
- No gross-up calculation up to 95% CLTV behind all Pay Option ARMs (Concurrent)
Equal Housing Lender. Rates, comparisons, fees and programs are subject to change without notice. Information is intended for Mortgage Professionals only, and not for distribution to consumers, as defined by Section 226.2 of Reg. Z, which implements the Truth-In-Lending Act. CAPMOR Credit reserves the right to cancel any rate lock which violates any state or federal law concerning predatory lending.