Program & Rate Disclaimers

Last modified: February 22, 2021

eLEND offers a wide variety of home loan solutions to meet the needs of most residential home buyers and property owners. On this page, we explain how rates are calculated on our website, how pricing may be different on 3rd party publishers’ websites, and how mortgage rates and closing costs may vary. We also offer some examples of how various products work in relation to monthly payments, APR, private mortgage insurance, and other contributing factors. If you have any questions during your research, do not hesitate to give one of our mortgage professionals a call at 800-634-8616.

Rates on eLEND’s Today’s Rates Tab

  • Home Purchase or Rate and Term Mortgage Refinance (not for cash-out refinances)
  • Stand Alone, Single Family Primary Residences
  • Stick Built Construction (when applicable on construction loans)
  • 75% Loan-to-Value
  • 740 Credit Scores
  • $200,000 Loan Amount
  • 30 Day Rate Lock

Rates are subject to change without notice and may fluctuate multiple times throughout the day. Posted rates do not constitute an offer to lend. All loans are subject to credit approval. Please contact an eLEND mortgage professional for the most up-to-date pricing and for a quote for your unique scenario.

Using the Rate Quote Form on eLEND.com

If you go through the process of filling out the custom pricing quote request on eLEND.com, our automatic pricing platform will take into consideration the various criteria you enter and return pricing based on that criteria. Please note that we will need to speak with you to make sure that other terms and conditions may not apply. An investment property with commercial space, a high-rise condo, and a property on leased land are just a few examples of scenarios where pricing may be different or properties may be ineligible. Borrowers need to speak with a licensed mortgage professional to obtain the most accurate quote possible. As previously mentioned, posted rates do not constitute an offer to lend. All loans are subject to credit approval.

Rates Posted on 3rd Party Publishing Websites

eLEND advertises interest rates, closing costs, and APR information through multiple online and offline advertising outlets. You may have seen us on sites such as Bankrate.com, HSH.com, or Zillow.com to name a few. Each publisher has their own set of pricing criteria which we must adhere to. The criteria for each one may vary slightly which is why you may see different rates advertised in different places. For instance, one website asks us to quote pricing for a $165,000 rate and term refinance for someone with 740 credit while another requires that we post rates applicable to a $200,000 loan for a borrower with a 680 score. We encourage shoppers to review the various publishers’ pricing guidelines to see if they may be eligible to qualify for the posted terms.

Examples of Products Listed on eLEND.com

The examples below are based upon a purchase or rate and term refinance for a single family, primary residence, for borrowers with credit scores of 700 and higher. Please contact an eLEND mortgage professional to discuss specific products, rates, and calculations.

Fixed Rate Examples

30 Year Fixed Rate Mortgage

The principal and interest payment on a $200,000 30 year fixed rate mortgage at an interest rate of 5.000% and 75% loan-to-value is $1,073.64. The APR is 5.079% with $895 in fees included into the APR. Example does not include any discount or origination points. Taxes and insurance premiums are not included in the monthly payment. No private mortgage insurance (PMI) is required in this example. 30 year mortgages are amortized over a 360 month period.

20 Year Fixed Rate Mortgage

The principal and interest payment on a $200,000 20 year fixed rate mortgage at an interest rate of 4.875% and 75% loan-to-value is $1,306.14. The APR is 4.981 % with $895 in fees included into the APR. Example does not include any discount or origination points. Taxes and insurance premiums are not included in the monthly payment. No private mortgage insurance (PMI) is required in this example. 20 year mortgages are amortized over a 240 month period.

15 Year Fixed Rate Mortgage

The principal and interest payment on a $200,000 15 year fixed rate mortgage at an interest rate of 4.500% and 75% loan-to-value is $1,529.99. The APR is 4.628% with $895 in fees included into the APR. Example does not include any discount or origination points. Taxes and insurance premiums are not included in the monthly payment. No private mortgage insurance (PMI) is required in this example. 15 year mortgages are amortized over a 180 month period.

10 Year Fixed Rate Mortgage

The principal and interest payment on a $200,000 10 year fixed rate mortgage at an interest rate of 4.500% and 75% loan-to-value is $2,072.77. The APR is 4.684% with $895 in fees included into the APR. Example does not include any discount or origination points. Taxes and insurance premiums are not included in the monthly payment. No private mortgage insurance (PMI) is required in this example. 10 year mortgages are amortized over a 120 month period.

FHA Mortgage Financing Examples

30 Year Fixed Rate FHA Loans

The principal and interest (P&I) payment on a $122,100 year fixed rate home loan at an interest rate of 5.000% and 80% loan-to-value is $734.92 ($655.46 P&I + $79.46 monthly mortgage insurance premium). This is based upon a $150,000 home sales price, 20% down payment, 1.75% one-time upfront mortgage insurance premium (MIP) of the base loan amount of $120,000 ($120,000 X 1.75% = $2,100), and monthly mortgage insurance premium at .80% of the base loan amount. The APR is 5.826% with $895 in fees and the 1.75% upfront MIP incorporated into the APR. Taxes and homeowners insurance premiums are not included. 30 year home loans have monthly payments for 360 months. With mortgages with LTVs of 95% or less, the 0.80% mortgage insurance premium must be paid for 132 months or until the loan is paid off, whichever occurs first.

15 Year Fixed Rate FHA Loans

The principal and interest (P&I) payment on a $122,100 year fixed rate home loan at an interest rate of 4.5000% and 80% loan-to-value is $979.06 ($934.06 P&I + $45 monthly mortgage insurance premium). This is based upon a $150,000 home sales price, 20% down payment, 1.75% one-time upfront mortgage insurance premium (MIP) of the base loan amount of $120,000 ($120,000 X 1.75% = $2,100), and monthly mortgage insurance premium at 0.45% of the base loan amount. The APR is *with $895 in fees and the 1.75% upfront MIP incorporated into the APR. Taxes and homeowners insurance premiums are not included. 15 year home loans have monthly payments for 180 months. With mortgages with LTVs of 90% or less, the .45% mortgage insurance premium must be paid for 132 months or until the loan is paid off, whichever occurs first.

USDA Rural Housing Loan Example

30 Year Fixed Rate USDA Rural Housing Mortgage Loan

The monthly payment (principal and interest) on a $126,250 ($125,000 loan amount + $1250 upfront guarantee fee added to the loan) 30 year fixed rate USDA rural housing loan at an interest rate of 6% and 100% LTV (zero down) is $793.75 ($756.93 P&I + $36.82 Monthly MIP). This scenario is based upon a $125000 sales price and a 1.00% upfront guarantee fee of the base loan amount of $1250 ($125,000 X 1% = $1,250) and a monthly mortgage insurance premium (MIP) at .35% (of base loan amount). The APR is 6.214% with $895 in fees and the 1.00% upfront guarantee fee calculated into the APR. 30 year fixed rate home loans require monthly payments for 360 months (12 month X 30 years = 360 months). Payment example above does not include taxes, homeowners insurance, and any home related dues (i.e. HOA dues). Please contact an eLEND mortgage professional to learn more USDA rural housing loans.

VA Financing Examples

30 Year VA Fixed Rate Loans

The principal and interest payment on a $150,000 30 year VA fixed rate mortgage at an interest rate of 5.500% and 100% loan-to-value (zero down payment) is $851.68. VA loans do not have mortgage insurance premiums. The APR is 5.760% with a 2.3% funding fee paid with cash at closing (will vary) and 0% origination and discount points. 30 year fixed rate home loans require repayment over the course of 360 months. Contact an eLEND mortgage professional for eligibility information. Monthly taxes, insurance, and any HOA dues are not included in the monthly payment example above.

15 Year VA Fixed Rate Loans

The principal and interest payment on a $150,000 15 year VA fixed rate mortgage at an interest rate of 4.500% and 100% loan-to-value (zero down payment) is $1,147.49. VA loans do not have mortgage insurance premiums. The APR is 4.916% with a 2.3% funding fee paid with cash at closing (will vary) and 0% origination and discount points. 15 year fixed rate home loans require repayment over the course of 180 months. Contact an eLEND mortgage professional for eligibility information. Monthly taxes, insurance, and any HOA dues are not included in the monthly payment example above.