The Annual Percentage Rate (APR) is a measure of the cost of obtaining credit. It takes into account,
among other things, the interest rate, points, origination fee, mortgage insurance premium and certain
other charges assessed to you by a lender for originating a loan. The APR may be used to compare
loans offered by competing lenders taking into account both interest rate and closing fees.
WHEDA Advantage
as of
(rates subject to change daily)
|
|---|
Product Option
(click name for description)
|
Loan-to-Value
(LTV) Ratio
|
Interest
Rate
|
Estimated
WHEDA Closing
Costs
|
|---|
WHEDA Fannie Mae Advantage - HFA Preferred
(Table Funded Channel)
Lender requests funds from WHEDA at least two business days prior to closing. WHEDA transfers funds to the lender's bank account the day of closing. | 0.00 - 97.00%
| 4.250%
|
$730
|
| Costs itemized below include only those specific to the WHEDA Fannie Mae Advantage - HFA Preferred
(Table Funded Channel).
Assumption: Loan amount = $100,000 |
GFE - Block 1 | | | WHEDA Paid Origination Fee:
| 1750 | | | | WHEDA Purchase Review Fee:
| 450 | | | | Adverse Market Fee (.25%):
| 250 | | |
GFE - Block 2 | Check the 2nd box, then enter the
correct credit & rate. | | | WHEDA Paid Origination Fee:
|
(-1750)
| | |
GFE - Block 3 | | | Tax Service Fee:
| 0 | | |
GFE - Block 7 | | | Recording Fee - Assignment:
| 30 | | | Total Estimated Closing Costs: | 730 | |
|
WHEDA Fannie Mae Advantage - HFA Preferred Risk Sharing
(Table Funded Channel)
Borrower-paid mortgage insurance is not required.
Lender requests funds from WHEDA at least two business days prior to closing. WHEDA transfers funds to the lender's bank account the day of closing. | 0.00 - 97.00%
| 4.500%
|
$730
|
| Costs itemized below include only those specific to the WHEDA Fannie Mae Advantage - HFA Preferred Risk Sharing
(Table Funded Channel)
Borrower-paid mortgage insurance is not required..
Assumption: Loan Amount = $100,000 |
GFE - Block 1 | | | WHEDA Paid Origination Fee:
| 1750 | | | | WHEDA Purchase Review Fee:
| 450 | | | | Adverse Market Fee (.25%):
| 250 | | |
GFE - Block 2 | | | WHEDA Paid Origination Fee:
|
(-1750)
| | |
GFE - Block 7 | | | Recording Fee - Assignment:
| 30 | | | Total Estimated Closing Costs: | 730 | |
|
WHEDA Fannie Mae Advantage - HFA Preferred
(Closed Loan Channel)
Lender closes the loan prior to the rate lock expiration date using their own source of funds. WHEDA must receive all origination and closing documents within 10 business days of the closing. | 0.00 - 97.00%
| 4.250%
|
$1280
|
| Costs itemized below include only those specific to the WHEDA Fannie Mae Advantage - HFA Preferred
(Closed Loan Channel).
Assumption: Loan amount = $100,000 |
GFE - Block 1 | | | Miscellaneous Lender Fees:
| 1000 | | | | Adverse Market Fee (.25%):
| 250 | | |
GFE - Block 3 | | | Tax Service Fee:
| 0 | | |
GFE - Block 7 | | | Recording Fee - Assignment:
| 30 | | | Total Estimated Closing Costs: | 1280 | | |
NOTE: Lenders should consult their legal counsel and/or regulatory agency regarding disclosure of the WHEDA Paid Origination Fee which will be disbursed to the lender when the loan is purchased by WHEDA.
|
|
WHEDA Fannie Mae Advantage - HFA Preferred Risk Sharing
(Closed Loan Channel)
Borrower-paid mortgage insurance is not required.
Lender closes the loan prior to the rate lock expiration date using their own source of funds. WHEDA must receive all origination and closing documents within 10 business days of the closing. | 0.00 - 97.00%
| 4.500%
|
$1280
|
| Costs itemized below include only those specific to the WHEDA Fannie Mae Advantage - HFA Preferred Risk Sharing
(Closed Loan Channel)
Borrower-paid mortgage insurance is not required..
Assumption: Loan Amount = $100,000 |
GFE - Block 1 | | | Miscellaneous Lender Fees:
| 1000 | | | | Adverse Market Fee (.25):
| 250 | | |
GFE - Block 3 | | | Tax Service Fee:
| 0 | | |
GFE - Block 7 | | | Recording Fee - Assignment:
| 30 | | | Total Estimated Closing Costs: | 1280 | | |
Lender should consult their legal
counsel and/or regulatory agency
regarding disclosure of the WHEDA
Paid Origination Fee which will be
disbursed to the lender when the loan
is purchased. |
|
WHEDA FHA Advantage
(Closed Loan Channel)
Lender closes the loan prior to the rate lock expiration date using their own source of funds. WHEDA must receive all origination & closing documents within 10 business days of the closing. | 0.00 - 96.50%
| 4.250%
|
$2030
|
| Costs itemized below include only those specific to the WHEDA FHA Advantage
(Closed Loan Channel).
Assumption: Loan amount = $100,000 |
GFE - Block 1 | | | Miscellaneous Lender Fees:
| 1000 | | |
GFE - Block 3 | | | Upfront FHA MIP:
| 1000 | | | | Tax Service Fee:
| 0 | | |
GFE - Block 7 | | | Recording Fee - Assignment:
| 30 | | | Total Estimated Closing Costs: | 2030 | | |
NOTE: Lenders should consult their legal counsel and/or regulatory agency regarding disclosure of the WHEDA Paid Origination Fee which will be disbursed to the lender when the loan is purchased by WHEDA. |
|
WHEDA 2nd Mortgage Options
as of
(rates subject to change daily)
|
|---|
Product Option
(click name for description)
|
Maximum
Loan Amount
|
Interest
Rate
|
Estimated
WHEDA Closing
Costs
|
|---|
WHEDA Easy Close Advantage
A second mortgage product to assist with down payment and closing costs. Proceeds can be used to pay for single premium private mortgage insurance or FHA Up-front MIP. |
$3,000.00
| 5.500%
The interest rate is 1% higher than the borrower's first mortgage interest rate. |
$30
|
| Costs itemized below include only those specific to the WHEDA Easy Close Advantage.
Assumptions: Loan amount = $3,000; interest rate fixed for 10 years. |
GFE - Block 3 | | | Tax Service Fee:
| 0 | | |
GFE - Block 7 | | | Recording Fee - Assignment *:
| 30 | | | Total Estimated Closing Costs: | 30 | | |
* Not applicable if Mortgage names WHEDA as mortgagee. |
|
WHEDA Home Improvement Advantage
A second mortgage product for home repairs available to home owners whose first mortgage is currently held by WHEDA. Borrowers must have owned their home for at least 6 months. Closing costs may be added into the loan. |
$10,000.00
| 6.000%
|
$55
|
| Costs itemized below include only those specific to the WHEDA Home Improvement Advantage.
Assumptions: Loan amount = $10,000; interest rate fixed for 10 years. |
GFE - Block 1 | | | WHEDA Processing Fee:
| 25 | | |
GFE - Block 3 | | | Tax Service Fee:
| 0 | | |
GFE - Block 7 | | | Recording Fee - Assignment:
| 30 | | | Total Estimated Closing Costs: | 55 | |
|
To learn more about WHEDA Advantage loan pricing options and interest rates, contact a participating WHEDA Advantage lender.