Wholesale Lending
Rate and Fee Schedule
Thursday, June 15, 2017
(AZ, ID, NM, NV, OR & UT)
PURCHASE PRICING: Owner-Occupied SFR and 2-Plex
LTV
Loan Limits
30-Yr Fixed
15-Yr Fixed
3/1 ARM
5/1 ARM
7/1 ARM
80
650,000
4.000
3.750
2.875
3.125
3.500
80
700,000
4.000
3.750
2.875
3.125
3.500
80
1,000,000
4.250
4.000
3.000
3.375
3.750
75
1,500,000
4.250
4.000
3.000
3.375
3.750
70
2,000,000
4.500
4.250
3.000
3.375
3.750
300,000
4.750
4.500
3.625
3.875
4.250
90
650,000
4.500
4.250
3.375
3.625
4.000
Loan Origination Fee to WAFED
for ALL Loan Applications
Please follow these instructions when quoting WAFED Loan
Origination Fee:
BPO: Loan Origination Fee to WAFED is 0.00
LPO: Loan Fee to WAFED will match the Broker’s Compensation
% as pre-determined by your company in the “Lender-Paid
Compensation Election Form” with WAFED.
BPO and LPO: All other customary origination charges to
WAFED apply as disclosed on page 3, such as Document
Preparation Fee, Payment Processing Fee, Custom Construction
Fee, etc.
Purchase Pricing for Second Home SFR
80
200,000
4.250
4.000
3.125
3.375
3.750
80
700,000
4.250
4.000
3.125
3.375
3.750
80
850,000
4.500
4.250
3.250
3.625
4.000
Password: rentrap
Visit our website at: www.washingtonfederal.com/personalbanking/mortgages/wholesale-lending
Self-Insured (No PMI)
95
Username: partner
Note: WAFED does not provide any rebate pricing.
REFINANCE PRICING: All O/O SFR and 2-Plex
Credit Score Adjusters to Interest Rate (Applies to all programs)
LTV
Loan Limits
30-Yr Fixed
15-Yr Fixed
3/1 ARM
5/1 ARM
7/1 ARM
Credit Score
65% or less
65.01-70%
70.01-75%
75.01-80%
80.01-90%
90.01-95%
80
650,000
4.125
3.875
2.875
3.125
3.500
740+
0.000
0.000
0.000
0.000
0.000
0.000
80
700,000
4.125
3.875
2.875
3.125
3.500
720-739
0.000
0.000
0.000
0.000
0.000
0.125
80
1,000,000
4.375
4.125
3.000
3.375
3.750
700-719
0.000
0.000
0.000
0.000
0.000
0.250
75
1,500,000
4.375
4.125
3.000
3.375
3.750
680-699
0.000
0.000
0.000
0.000
0.250
0.375
70
2,000,000
4.625
4.375
3.000
3.375
3.750
660-679
0.000
0.125
0.250
0.500
N/A
N/A
640-659
0.250
0.500
0.625
0.750
N/A
N/A
620-639
1.000
1.000
N/A
N/A
N/A
N/A
Self-Insured (No PMI)
90
650,000
4.625
4.375
3.375
3.625
4.000
Refinance Pricing for Second Home SFR
80
200,000
4.375
4.125
3.125
3.375
3.750
80
700,000
4.375
4.125
3.125
3.375
3.750
80
850,000
4.625
4.375
3.250
3.625
4.000
Please be sure and visit our website to obtain all program descriptions,
underwriting and documentation guidelines, submission forms and other
supporting forms and worksheets.
• Loan amounts over $2.0MM are available at LTVs less than 70%. Call or email for quote.
• 80.01-90%: No Mortgage Insurance Required!
• Cash-out Refinance; Limited to 80% LTV maximum; minimum 680 credit score required.
• O/O 3-4 Family financing is available. Call or email for quote.
Additional adjustments to INTEREST RATE will apply for the following characteristics; multiple adjusters may apply:
Non-Warrantable Condominium Project
+0.250
Cash Back > $250,000
+0.250
Warrantable Condo with LTV Over 90%
+0.250
Non-occupant co-borrower needed to qualify
+0.250
Asset-Based Income Loan
+0.250
Purchase of Primary Residence for Parent or Child
+0.250
Cross-Collateral (.50% Origination Fee to WAFED)
+0.250
Alternative Credit documentation
+0.250
Log Home
+0.250
Entity Vesting (LLC & Irrevocable Trust)
+0.250
Multiple Outbuildings (minimal value should be given)
+0.250
High Ratios (Total DTI over 43%)
+0.250
Leasehold Property
+0.250
Less than 2 years self-employed
+0.250
10.01 to 24 acres
+0.250
Large Acreage Program 25 to 40 acres
+0.500
Large Acreage Program 40.01 to 100 acres
+1.000
Cash Out Refinance limited to 70% LTV
+0.250
Acreage zoned or used for Agricultural purposes
+0.500
80.01-90% LTV: 10 years old or newer only
+0.250
Manufactured Homes: 15 years old or newer
3/1, 5/1 and 7/1 ARM Program
Standard Margin for O/O:
2.750
Standard Margin for Second Home:
3.000
• Rate will automatically adjust annually after initial 3, 5 or 7 year fixed rate
period to Index Rate plus Margin for remainder of 30 year term.
Standard Margin for N/O/O:
3.500
• Second Homes, Custom Construction, Asset Based, Manufactured
Standard Margin for Canadian National:
3.500
Homes and Condominiums are all available.
80% or less LTV up to $650K:
Standard Margin +.000
• Lifetime cap is 4% above note rate. Floor is the Margin.
80% or less LTV up to $700K:
Standard Margin +.250
80% or less LTV up to $1.0M:
Standard Margin +.625
• Index: 1 Year Constant Maturity (CMT) per Federal Reserve. Current Index
Rate today is:
75% or less LTV up to $1.5M:
Standard Margin +.625
70% or less LTV up to $2.0M:
Standard Margin +.750
• For qualification use:
• 3/1 ARM = 4% above start rate
80.01% to 90% LTV up to $650K:
Standard Margin +.500
• 5/1 ARM = 2% above start rate
90.01% to 95% LTV up to $300K:
Standard Margin +.875
• 7/1 ARM = Fully indexed rate
Index Rate = 1.2%
PLUS add any other rate adjustments for credit, income collateral, etc. to arrive at Total Margin for loan.
Page 1
Rate and Fee Schedule
Thursday, June 15, 2017
(AZ, ID, NM, NV, OR & UT)
Wholesale Lending
Custom Construction
• Available for an O/O or Second Home SFR up to 80% LTV Max.
LTV
Loan Limits
30-Yr Fixed
15-Yr Fixed
3/1 ARM
5/1 ARM
7/1 ARM
80
200,000
4.125
3.875
3.000
3.250
3.625
• N/O/O or Speculative financing is NOT available.
80
650,000
4.125
3.875
3.000
3.250
3.625
• Standard construction term is 12 months.
80
700,000
4.125
3.875
3.000
3.250
3.625
• Longer construction terms are available for an additional $1,800 fee.
80
1,000,000
4.375
4.125
3.500
3.750
3.875
• Prepayment charge does not apply.
75
1,500,000
4.375
4.125
3.500
3.750
3.875
70
2,000,000
4.625
4.375
3.500
3.750
3.875
• This program is offered case-by-case based on Loan Officers
experience level with construction loans.
• .75% Construction Fee to WAFED up to max of $7,000 on Fixed rate programs. Additional .25% Construction fee on ARM loans.
• Custom Construction 3rd Party Inspection Fee = $600 for loan amounts up to and including $700,000. $1,200 for loans over $700,000.
• Add .25% in rate to all programs for Second Home financing.
• Please refer to program description available on the website for full details including builder and project requirements, and to obtain the
worksheet required to be completed to calculate the loan amount, LTV and funds required to close.
• For 3/1, 5/1 and 7/1 ARM: Refer to bottom of previous page for program details including index and margin information.
Non-Owner Occupied – Investment Property
• 3 Year "Hard" prepayment charge of 1% applies.
LTV
Loan Limits
Units
30-Yr Fixed
3/1 ARM
5/1 ARM
7/1 ARM
70
600,000
SFR
5.250
3.875
4.375
4.875
• Out-of-state investors case-by-case.
70
600,000
2-Plex
5.250
3.875
4.375
4.875
• Cash out: +.25% to rate and minimum 680 credit score.
70
700,000
3-Plex
5.750
4.625
5.125
5.375
• Entity Vesting (LLC, Trust, etc.): +.25% to rate.
70
850,000
4-Plex
5.750
4.625
5.125
5.375
• Maximum 10 financed properties
Canadian Foreign National
• 1% Origination Fee to WAFED required.
LTV
Loan Limits
3/1 ARM
5/1 ARM
7/1 ARM
75
200,000
3.750
4.500
5.000
• Owner Occupied and Second Home only.
75
600,000
3.875
4.625
5.125
• Purchase and Refinance transactions only. No custom construction.
• Borrowers must qualify with full credit, income and asset documentation.
• Not available in Arizona.
Page 2
Rate and Fee Schedule
Thursday, June 15, 2017
(AZ, ID, NM, NV, OR & UT)
Wholesale Lending
Lock-In Information
1.
90 Day Float-Down Lock: .125% increase in interest rate applies. Includes a free opportunity for automatic float down of the interest rate at
commitment at which time the .125% can be removed if current market rate is lower.
2.
45 Day No Float-Down Lock: No upfront deposit required. All transactions lock for 45 days. No opportunity for a float down of the interest rate.
You are not required to lock-in at all, although it is highly recommended you do so. If your loan has not been locked in prior to submission of the full
package with appraisal and title, WAFED will automatically lock at current market rate at time of commitment. Credit-Only requests will float until final
commitment or until you lock-in, whichever occurs first. Please review detailed Lock Policy on our website under Compliance & Procedures at:
www.washingtonfederal.com
Origination Fees to WAFED - Applies to All Loans
Document Preparation Fee
Section A of LE
$700
Flood Certification
Section B of LE
$15 for life of loan. (Cross-Collateral loans $30 due to having certifications on two properties)
Wire Transfer Fee
Section A of LE
$25
Property Tax Status Research
Fee
Section B of LE
$53 up to $499,999 loan amount; Add $10 for every additional $100,000 in loan amount.
Payment Processing Fee
Section A of LE
$400; This fee will be refunded to the borrower(s) at closing if the elect to use EZpay. WAFED
recommends this fee always be disclosed on the LE at time of application. If it is not disclosed,
EZpay will be required.
Escrow Waiver Fee (70% or
less LTV required)
Section A of LE
$500; 70% or less LTV required; subject to underwriting approval.
Miscellaneous Origination Fees As Applicable
Lender-Paid Origination (LPO)
If broker’s compensation is to be paid by WAFED rather than directly by borrower, WAFED will charge the borrower a FEE
that matches the Lender-Paid Origination percentage predetermined by your company per the compensation agreement
on file. For example: If your company chose 1.5% for Lender-Paid Comp., WAFED will be charging the borrower 1.5%
origination charge (in addition to all other Origination Charges as applicable.)
Cross-Collateral Fee
Loan Origination Fee Section
A of LE
0.50%
Escrow Holdback Fee
Section A of LE
$250
Re-inspection Fee
442 inspection)
Document Redraw Fee
Section A of LE
$250
Re-amortization Fee
Not Charged until lump sum
payment has been made after
closing.
$250
Non Personal Borrowing Entity
Fee (Trust, LLC, Corp.)
Section A of LE
$475
Partial Release Processing Fee
Not charged until request for
partial release is processed
after closing.
$250
Recently listed property
(within 12 months) and any
loan with "high-risk of payoff"
characteristics
Loan Origination Fee Section
A of LE
1%
Construction Fee
Section A of LE
.75% up to $7,000 maximum.
Add additional $1,800 is
construction term is longer
than 12 months
Foundation Inspection Fee
Charged when a third-party is
required to perform Section B
of LE
Call for
guidance
Custom
Construction 3rd
Party Inspection
Section A of LE
$600 up to $700,000 loan
amount. $1,200 for loan
amounts over $700,000
(Final
Applies to all Custom
Construction loans
Section B of LE
$75-$150
Programs, rates, terms and conditions are subject to change without notice. This information is intended for Mortgage and Real Estate Professional use only and should not
be distributed or shown to consumers or other third parties. If you have received this information from Washington Federal directly by fax or email and no longer wish to
receive it, please contact us immediately. Washington Federal NMLSR Company #410394.
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