Mortgage Terms and Conditions

CompareMyAgent.com is not a lender. All information that you supply to CompareMyAgent.com is held in strict confidentiality. All credit qualification and credit decisions are made by the lenders working with CompareMyAgent.com. To insure that rates are current, we update the rate grid during Monday-Friday and once on weekends.

All APR rates on Conforming loans are based on a $200,000 loan amount. All APR rates on Jumbo loans are based on loan amounts of $500,000 loan amount. There are no prepayment penalties on any loans advertised by CompareMyAgent.com. Fixed rates listed are not interest-only, but are amortizing fixed rate loans. Rates for cash out refinances may be higher. Rates listed are based on certain qualifications. Rates are based on a middle credit FICO score of a minimum of 720, and a loan-to-value ratio of no more than 80%. Rates listed based on loan amounts over $200,000. Call for rates under $200,000. APR rates include normal closing costs. All 0 point loans DO NOT have origination points. They are true 0 point quotes. There are no broker fees or rate lock fees. Rates are subject to change without notice and are based on 30 day locks. Listed rates apply to PA only. All participating lenders are licensed by the Department of Banking in the State of PA and/or NJ where they offer mortgage loans.

Adjustable Rate Mortgages (ARMs) can be good choices when chosen wisely. All ARMs listed here do not have negative amortization nor do they have prepayment penalties. These ARMs are fully amortizing loans and have a fixed rate only during the years designated. For example, a 3/1 ARM is fixed for 3 years, a 5/1 ARM is fixed for 5 years, a 7/1 ARM is fixed for 7 years and the 10/1 ARM is fixed for 10 years. Once the fixed period is over, the loans can adjust higher. Most of the rates quoted will have Rate Caps of 2/2/6. That means in the first year after the fixed period, the max that the rate can go up is 2% over the start rate. The second 2 means that the max that the rate can go up yearly therafter is 2% and the 6 designates that the max that the rate can go up over the life is 6% over the initial rate. Some ARMs may have CAPS that read 5/2/5. This means that the very first adjustment may actually be 5% over the start rate, in the very first year after the start rate. When the ARM reaches the adjustable period, it adjust using either the index (TBill or Libor rates) plus a margin. So the interest rate for that year may go up or down depending on market conditions at that time.Since margins may differ and indexes may differ, please consult with your loan officer of your chosen lender for specifics. Due to complexities in describing ARMs and the way that they work, we welcome any questions that you may have by using the Talk Back section.

Our intention is to fully disclose, as clearly as possible, the rates offered by our participating lenders. Our policy is that we will offer the absolute lowest rates available without feeling the need to lowball you to get your business. We always welcome suggestions if you feel that this disclosure should be changed in any way.

The Management