Math that makes sense

Loan assumptions

__SELECTED_RATE_HOLDER__ Year Assumptions

Sample rate of __RATE_APR_HOLDER__ APR (annual percentage rate) based on the following assumptions:

• Down payment: __DOWN_PAYMENT_PERCENTAGE_HOLDER__
• __SELECTED_RATE_HOLDER__-year fixed rate
• __POINTS_HOLDER__ point(s) = __POINTS_PAYMENT_HOLDER__
• Location: Orange County, CA
• First Lien position
• __FICO_SCORE_HOLDER__ FICO score
• __DAY_RATE_LOCK_HOLDER__ day rate lock
• Primary residence
• __LTV_RATIO_HOLDER__ LTV ratio
• Debt-to-income ratio: 40%
• Property taxes: 1.14% of home price
• Homeowner insurance: 0.25% of the home price
• Private Mortgage Insurance:0.55% of the loan amount until Loan-to-Value < 80%

Advertised rates and APR effective as of __APR_EFFECTIVE_DATE_HOLDER__ and are subject to change.

Subject to underwriting guidelines and applicant’s credit profile. Sample payment does not include taxes, insurance or assessments. Not all applicants will be approved. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Contact Owning for more information and up to date rates.

Monthly Savings

Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Contact Owning for current rates. Restrictions apply.

Loan assumptions

This is not a commitment to lend. Consumers are advised to obtain a Loan Estimate. Rates are subject to change and are dependent on credit and underwriting criteria.

Your actual rate, payment and costs could be higher. Owning cannot predict where rates will be in the future. Sample rate provided for illustration purposes only and is not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Restrictions may apply, contact Owning for current rates and for more information.

Your cost breakdown is based on the self-stated planned years to own the home. Costs include:

Rent

• Monthly cost: self-stated rent + insurance x (self-stated planned years x 2% inflation increase)
• Total cost: monthly cost x (self-stated planned years x 12)
• Down payment lost interest: Defined as 2% earned interest from investing money otherwise used for a down payment.

Own

• Monthly cost: principal & interest + $50 HOA + Insurance + taxes + PMI (if applicable when down payment <20%)
• Total cost: monthly cost x (self-stated planned years x 12)
• Mortgage Rate: __SELECTED_RATE_PERCENTAGE_HOLDER__%

Assumptions for the calculations

• Annual home appreciation: 2%
• Closing costs: 1% of the home price + $775 fees
• Selling costs: realtor fees (6% of home price) + closing fee based (1% of home price)
• Property taxes: 1.14% of home price
• Maintenance costs: 1% of home price
• Homeowner insurance: 0.25% of the home price
• Down payment opportunity cost: 2% of the initial down payment amount
• Private Mortgage Insurance:0.55% of the loan amount until Loan-to-Value < 80%
• Does not include VA loan option in calculations or income and mortgage payment tax deductions so actual homeownership benefits may be greater

Loan assumptions

__SELECTED_RATE_HOLDER__ Year Assumptions

Sample rate of __RATE_APR_HOLDER__ APR (annual percentage rate) based on the following assumptions:

• Down payment: __DOWN_PAYMENT_PERCENTAGE_HOLDER__
• __SELECTED_RATE_HOLDER__-year fixed rate
• __POINTS_HOLDER__ point(s) = __POINTS_PAYMENT_HOLDER__
• Location: Orange County, CA
• First Lien position
• __FICO_SCORE_HOLDER__ FICO score
• __DAY_RATE_LOCK_HOLDER__ day rate lock
• Primary residence
• __LTV_RATIO_HOLDER__ LTV ratio
• Debt-to-income ratio: 40%

Advertised rates and APR effective as of __APR_EFFECTIVE_DATE_HOLDER__ and are subject to change.

Subject to underwriting guidelines and applicant’s credit profile. Sample payment does not include taxes, insurance or assessments. Not all applicants will be approved. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Contact Owning for more information and up to date rates.

How are Owning’s competitors’ average rates and APR determined?

Sample rate of 6.815% and monthly payment of $4,740.23. For our comparison, we are using OPTIMAL BLUE MORTGAGE MARKET INDICES which is calculated from actual locked rates with consumers across 42% of all mortgage transactions nationwide. Competitors’ average APR is estimated with Owning’s typical fees. Actual competitors’ fees may vary. The comparison includes information from Optimal Blue 30-Year Conforming Index, which uses the following assumptions:

• Single family residences
• Purchase and rate/term refinances (cash-out refinances are excluded)
• Conventional loans
• Loan amounts are below the conforming loan limits by county and year
• Fixed rate loans
• Single unit properties
• Owner occupied residences
• 30-year amortization term
• Excludes loans with subordinate financing
• Retail and correspondent originations (excludes wholesale channel originations)

The indices are calculated as the arithmetic mean of the rates of all applicable locks made on that day. The periodicity is daily, excluding weekends and holidays due to low volume. There is a slight lag in updating the data which will be updated overnight with the previous day’s results.

Methodology

“The OBMMI are calculated with a consistent and measured approach. Each index represents the average of applicable rates for the day for loans locked on the Optimal Blue PPE platform by lenders nationwide. To increase the homogeneity of the rates in each index, transactions are limited to purchase and rate/ term refinances on owner-occupied, single-family residences, thus eliminating transactions like cash-out refinances and investor properties that typically include significant pricing adjustments. Further, the indices are an aggregation of the actual rates provided to borrowers for rate locks submitted that day, therefore abstracting away from points bought or sold to avoid a two-part (rate and points) index. Our view is that this will provide a consistent approach calculating the index with minimal noise from slight changes in points paid over time.”

Source: https://cdn2.hubspot.net/hubfs/4225469/Marketing-Collateral/Rate-Index-Research-Paper.pdf

Monthly Savings

Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Contact Owning for current rates. Restrictions apply.

Loan assumptions

__SELECTED_RATE_HOLDER__ Year Assumptions

Sample rate of __RATE_APR_HOLDER__ APR (annual percentage rate) based on the following assumptions:

• Down payment: __DOWN_PAYMENT_PERCENTAGE_HOLDER__
• __SELECTED_RATE_HOLDER__-year fixed rate
• __POINTS_HOLDER__ point(s) = __POINTS_PAYMENT_HOLDER__
• Location: Orange County, CA
• First Lien position
• __FICO_SCORE_HOLDER__ FICO score
• __DAY_RATE_LOCK_HOLDER__ day rate lock
• Primary residence
• __LTV_RATIO_HOLDER__ LTV ratio
• Debt-to-income ratio: 40%

Advertised rates and APR effective as of __APR_EFFECTIVE_DATE_HOLDER__ and are subject to change.

Subject to underwriting guidelines and applicant’s credit profile. Sample payment does not include taxes, insurance or assessments. Not all applicants will be approved. The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Contact Owning for more information and up to date rates.

How are Owning’s competitors’ average rates and APR determined?

Sample rate of 6.815% and monthly payment of $4,740.23. For our comparison, we are using OPTIMAL BLUE MORTGAGE MARKET INDICES which is calculated from actual locked rates with consumers across 42% of all mortgage transactions nationwide. Competitors’ average APR is estimated with Owning’s typical fees. Actual competitors’ fees may vary. The comparison includes information from Optimal Blue 30-Year Conforming Index, which uses the following assumptions:

• Single family residences
• Purchase and rate/term refinances (cash-out refinances are excluded)
• Conventional loans
• Loan amounts are below the conforming loan limits by county and year
• Fixed rate loans
• Single unit properties
• Owner occupied residences
• 30-year amortization term
• Excludes loans with subordinate financing
• Retail and correspondent originations (excludes wholesale channel originations)

The indices are calculated as the arithmetic mean of the rates of all applicable locks made on that day. The periodicity is daily, excluding weekends and holidays due to low volume. There is a slight lag in updating the data which will be updated overnight with the previous day’s results.

Methodology

“The OBMMI are calculated with a consistent and measured approach. Each index represents the average of applicable rates for the day for loans locked on the Optimal Blue PPE platform by lenders nationwide. To increase the homogeneity of the rates in each index, transactions are limited to purchase and rate/ term refinances on owner-occupied, single-family residences, thus eliminating transactions like cash-out refinances and investor properties that typically include significant pricing adjustments. Further, the indices are an aggregation of the actual rates provided to borrowers for rate locks submitted that day, therefore abstracting away from points bought or sold to avoid a two-part (rate and points) index. Our view is that this will provide a consistent approach calculating the index with minimal noise from slight changes in points paid over time.”

Source: https://cdn2.hubspot.net/hubfs/4225469/Marketing-Collateral/Rate-Index-Research-Paper.pdf

Monthly Savings

Savings, if any, vary based on the consumer’s credit profile, interest rate availability, and other factors. Contact Owning for current rates. Restrictions apply.