This is not an official loan estimate. Get an official loan estimate before choosing a loan. Your actual rate, payment, and costs could be higher. The monthly payment ranges are based on a jumbo mortgage with 80% LTV (20% downpayment). The lesser of the monthly payment amounts shown represents a first-position single-close Construction to Permanent mortgage with an APR of with a 30 yr loan term (360 payments) - for the purposes of calculating the APR, we do not make any assumptions of an existing mortgage balance - meaning the calculation assumes a $0 existing home value. The higher monthly payment shown represents a second-position Construction Home Equity Loan with an APR of with a 20 yr loan term (240 payments).
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