Mortgage/Home Equity Rates

Purchase or Refinance (No Cash-Out)
TypeDescriptionRateAPR+
30-YearFixed 360 Months6.875%7.159%
20-YearFixed 240 Months6.500%6.868%
15-YearFixed 180 Months6.000%6.468%
10-YearFixed 120 Months5.875%6.512%
One-Time Close Construction Loan (Interest only payments during construction)
TypeDescriptionRateAPR+
30-YearFixed 360 Months6.750%6.974%
20-YearFixed 240 Months6.500%6.780%
15-YearFixed 180 Months6.250%6.590%
10-YearFixed 120 Months6.250%6.712%
Cash-Out Refinance
TypeDescriptionRateAPR+
30-YearFixed 360 Months7.250%7.549%
20-YearFixed 240 Months7.000%7.386%
15-YearFixed 180 Months7.000%7.479%
10-YearFixed 120 Months6.750%7.419%
FHA Purchase / No Cash-Out Refinance
TypeDescriptionRateAPR+
30-YearFixed 360 Months6.500%7.388%
20-YearFixed 240 Months6.500%7.439%
VA Purchase / No Cash-Out Refinance
TypeDescriptionRateAPR+
30-YearFixed 360 Months6.375%6.584%
20-YearFixed 240 Months6.375%6.651%
Fixed Home Equity (Second Lien)*
TypeDescriptionRateAPR+
15-Year > 85% LTVFixed 180 Months8.500%8.818%
10-Year > 85% LTVFixed 120 Months8.500%8.945%
Land Loan – Residential (Purchase)
TypeDescriptionRateAPR+
5-Year < 70% LTVAmortized over 15 years with a balloon due in 60 months 7.250%7.745%
5-Year < 80% LTVAmortized over 15 years with a balloon due in 60 months 8.250%8.754%
Home Equity Line of Credit (Visa®)^
TypeDescriptionRateAPR+
20-Year / Maximum LTV/CLTV 80%Revolving Credit CardPrime + 1% 

All rate and program availability are subject to change without notice; contact HAPO Mortgage Division at (509) 946-2044 for further details.

+ Annual Percentage Rate (APR)

The annual percentage rate is 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 and origination charges). For home equity lines, the APR simply reflects the interest rate.

* First lien Home Equity Loans require an escrow account and borrower pays all fees.

^ Home Equity Line of Credit Disclosure:

  • HELOC rate is based on Prime + 1 (“Prime rate” means the prime rate published in the Money Rates table in the Wall Street Journal)
  • Rate may change monthly, maximum rate 18%,
  • 10-year draw period – adjustable rate with a minimum payment of $50
  • 10-year repayment period – outstanding loan balance will be amortized (principal and interest payment) over 10 years with a variable rate – minimum monthly payment of $50
  • Annual fee of $50

Example:   APRs quoted, on all fixed rate programs 1st lien position are based on a home loan of $358,240.00, with a 30-day rate lock period, 80% Loan to value, 780 credit score, 1% origination and 1% discount, $725 processing and all other fee and charges associated with the origination of the loan.  For a complete explanation of all other fees and charges contact the HAPO Mortgage Division at (509) 946-2044.

Example:   APRs quoted, on Fixed Home Equity program 2nd lien position is based on a home loan of $50,000.00 with a 45-day rate lock period, at 90% combined loan to value, 780 + credit score, and all charges and fees associated with the origination of the loan. For a complete explanation of all other fees and charges contact the HAPO Mortgage Division at (509) 946-2044.

Example:   APR quoted, on the land loan programs 1st lien position is based on a land loan of $308,00.00, with a 45-day rate lock period, at either a 80% or 70% Loan to value, 680 credit score, 1% origination (minimum $500), $725 processing and all other fee and charges associated with the origination of the loan.  For a complete explanation of all other fees and charges contact the HAPO Mortgage Division at (509) 946-2044.

Example:   APR quoted, on the One-Time close construction loan program 1st lien position is based on a home loan of $800,000.00 with a 45-day rate lock period, 80% Loan to value, 720 credit score, 1.50% origination, $725 processing, $1500 construction fee and all other fees and charges associated with the origination of the loan.  For a complete explanation of all other fees and charges contact the HAPO Mortgage Division at (509) 946-2044.

Example:   FHA Program APRs quoted; Purchase base loan of $432,127.00, total loan $439,689.00 (includes financed upfront MIP), 30-day rate lock period, 96.50% Loan to value, 720 credit score, 1% origination and 1% discount, $900 Admin and other fees and charges associated with the origination of the loan. For a complete explanation of all other fees and charges contact HAPO Mortgage Division at (509) 946-2044.

Example:   VA Program APRs quoted; Purchase base loan of $447,800.00, total loan $457,27.00 (includes financed VA’s first time use funding fee of 2.15%), 30-day rate lock period, 100% Loan to value, 720 credit score, 1% origination and 1% discount, $900 Admin and other fees and charges associated with the origination of the loan. For a complete explanation of all other fees and charges contact HAPO Mortgage Division at (509) 946-2044.

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