|
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
|
|
Current COST OF SAVINGS INDEX (COSI) & Margin
The COSI index is published monthly on the 16th of every month or the closest business day to the 16th.
COSI INDEX = 1.97%
The COSI Margin will vary depending on how the loan is structured. Here are some options:
INDEX |
MARGIN (Fixed) |
Fully Index Rate (30-year
interest rate) |
Prepayment Penalty |
Closing Costs |
1.85 |
2.8 |
4.65 |
None |
1.5% Discount Points |
1.85 |
3.15 |
5.00 |
3 Years |
0.5% Discount Points |
1.85 |
3.25 |
5.10 |
3 Years |
NO POINTS (PAR) |
1.85 |
3.3 |
5.15 |
3 Years |
0.5% rebate to pay closing
costs |
1.85 |
3.4 |
5.25 |
3 Years |
1.0% rebate to pay closing
costs |
The minimum payment is 1.95% regardless of which margin you choose.
Copyright 2003, MRates.com
HOME - APPLY ONLINE - FAQ - SERVICES - MORTGAGE LIBRARY