Loan Quote Assumptions

Rates and payments quoted above are based on loans secured by property in the state of WI. Rates and payments, closing costs and points vary by property location, loan type and individual borrower credit and income characteristics. All rate quotes above are based on the following assumptions and are subject to change without notice:

• Purchase or rate and term refinance of a primary residence
• Property is a one unit single family dwelling
• Closing costs are paid out of pocket
• Debt-to-income ratio is below 40%
• Credit score is greater than 720
• Rates are valid for 45 day locks
• Loan-to-value ratio is less than 75%
• You do not have a second mortgage

Mortgage rates are subject to change without notice at any time until you have locked a loan. Actual rate and payment will vary based on your specific situation. Some products may not be available in your state. Some restrictions may apply.

*Notice Regarding Adjustable Rate Mortgages: Interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed rate period, the interest and monthly payments may increase.

**Notice Regarding Interest Only Mortgages: Interest only loans provide for payment of interest only for a set period of time, and payment of principal and interest for the remainder of the loan term. Interest only payments do not reduce principal. At the end of the interest only period, your monthly payment will increase, possible substantially, because you will be required to pay down the outstanding principal and all accrued interest.

General Disclosures

• Information displayed is accurate as of the date of the latest update and is subject to change without notice. Loan pricing can only be locked through a home mortgage consultant. Other restrictions may apply.
  
  
• Due to various federal, state and local requirements, certain products may not be available in all areas.
  The monthly payment amount displayed includes principal and interest only. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.
  
  
• The displayed Annual Percentage Rate (APR) for the loan products shown reflects the interest rate and approximate cost of prepaid finance charges, including 1% of your loan amount to be applied to the origination charge, but does not include other closing costs or discount points.
  
  
• The approximate cost of prepaid finance charges does not constitute and is not a substitute for the Good Faith Estimate of Closing Costs (GFE) that you will receive once you apply for a loan. This is not a mortgage loan approval or commitment to lend. The actual fees, costs and monthly payment on your specific loan transaction may vary and may include additional fees and costs.
  
  
• Conventional loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate (APR).
  
  
• Mortgage rates shown are based on a 90-day lock for the refinance of a primary residence. Under certain circumstances, a 90-day rate lock may not be available.
  
  
• These mortgage rates and rate-lock period apply only in certain conditions. Your loan's interest rate and rate-lock period will depend upon the specific characteristics of your loan transaction and your credit profile up to the time of closing.

Loan Pricing Disclosure

We use a system of risk-based pricing to determine the interest rate and discount points that we charge. This disclosure explains the basics of risk-based pricing and gives you notice of our practices and procedures in determining the interest rate and costs for your mortgage loan.

What is Risk-Based Pricing?
Risk-based pricing is a system that evaluates the risk factors of your mortgage application and credit profile and adjusts the interest rate and discount points up or down based on this risk evaluation.

What Factors Can Affect My Loan Pricing?
Various factors interact to adjust your loan pricing. The major factors include:

Credit Profile: We will obtain a credit report that shows the amount of debt you have outstanding and how you have historically paid on your debt and obligations. The credit report will also contain a "credit score" that ranks your credit history. Credit scores look at five main kinds of credit information, namely: payment history; amount owed; length of credit history; new credit; and types of credit in use. Generally, if you have had any history of nonpayment or late payments on any loans or debt, this may lower your credit score and increase your interest rate and costs. People with high credit scores consistently: pay their debts on time, keep balances low on credit cards and other revolving loans; and apply for and open new credit accounts only as needed.

Property: The type of property you are mortgaging also impacts your loan pricing. For example, investment property, condominiums or multifamily housing are usually considered to have a higher risk to lenders than single-family detached homes. The value of the property (usually determined by an appraisal) as compared to the amount you wish to borrow (the "loan-to-value ratio" or "LTV") also impacts your loan price. The higher the LTV, the higher the interest rate and costs. LTV’s over 80% also usually require mortgage insurance. The price of mortgage insurance may vary based on your credit profile.

Income/Debt: The amount of your mortgage payments and total debt payments as compared to your income, ("debt-to-income ratios") may also impact your loan cost. The higher your debt-to-income ratio, the higher our risk, and so the higher the interest rate and fees.

Other Factors: Other factors may also affect our risk, and your interest rate and origination charge. These factors include, but are not limited to: previous bankruptcies, foreclosures or unpaid judgments; and the type of loan product applied for, such as adjustable rate versus fixed rate, or cash out refinance versus rate and term refinance.

How And When Is My Price Determined?
Your price is determined by evaluating all the risk factors that are involved in your loan, and determining where you fit into our risk/price range.

We will give you an estimate of your risk-based pricing after we have done an initial evaluation of your credit history and a review of your proposed property.

REMEMBER, however, that your risk-based pricing may change from this initial estimate if any of the risk factors discussed above change – for example, if the appraised value of the property is determined to be different than the value used for your initial estimate or if your credit profile changes between the time of the initial estimate and closing.

If you choose to "lock" a rate range prior to the final risk assessment, you will be locked for the interest rate range available at that time. Your actual price will be established based on where your final risk level fits into that particular interest rate range. Your final risk level is determined at time of closing, when there are no further changes to your credit profile or loan factors.

Is There a Way to Obtain a Lower Price?
If you are not in the lowest price bracket available, you may be able to obtain a lower price if you are able to lower our risk. You may accomplish this in various ways, such as: by putting more money down and lowering the LTV; finding a co-signer with additional income to support the loan; clearing inaccurate items on your credit report; paying off other debt to lower your debt-to-income ratio; changing from a cash-out refinance to rate and term refinance; or changing the term on the loan.