Torchlight Mortgage Corporation Rate Assumptions:
Rates displayed are subject to change and assume that you are buying or refinancing an owner occupied, primary, single family home with debt-to-income ratios of 35% or lower based on verifiable and documented income for no less than 2 years. We also assume asset and reserve requirements are satisfied with required reserves of liquid assets and/or funds up to 6 or 12 months based on the computed mortgage payment. We also assume your property has a loan-to-value ratio of 80% or less.
The Annual Percentage Rate (APR) is based on the loan amount and may include up to 2.5 points that will be origination and/or discount and/or lender fees for the subsequent loan and interest rate. On adjustable rate loans, interest rates are subject to potential increases over the life of the loan once the initial fixed rate period expires which will be based on the margin and the index as well as lifetime and/or yearly and/or payment caps.
Please contact one of our Licensed Mortgage Loan Officers at (855) 728-3100 OR (855) SAVE-100 for a customized mortgage review including payment and loan program options.