INTEREST RATE POLICY
"Ensuring that you have access to the best possible interest rates..."
30-YEAR FIXED RATES
- Interest rates = margin + 3-year treasury rate
- Margin is based on LTV, FICO & loan size
- Upon ICD, MoXi sets your margin
- Interest rate is fixed after your loan closes
- Fully amortized, 30-year fixed rate loans
TAKING A CLOSER LOOK
Note: MoXi will finalize your rate typically between 48-96 hours prior to closing by adding your margin to the intra-day high of the index. Updated 3-year treasury rates.
Your margin is formulaically calculated based on 3 criteria: (i) loan amount; (ii) FICO score, and (iii) LTV. Upon ICD, MoXi will set your margin for 120 days.
Your interest rate (= margin + 3-year treasury rate) will be finalized prior to the closing of your transaction.
Your finalized interest rate will be valid for 2 calendar days after your scheduled closing date. If your loan is not closed as scheduled, your rate may expire. Your loan documents may also need to be re-drawn using a refreshed index and/or margin.
Note: Some loans may have additional risk-based premiums added to the margin, including but not limited to premiums for Legal Title Opinion, cash out refinance, exceptions, etc.
Note: your final interest rate is fixed for the term of your loan. Our loans are fully amortized, fixed rate, and will not change after your final rate is issued and your loan closes.
Already selected a property and have a contract closing date within 120 days? The MoXi margin will be set at the time of your ICD (initial credit decision) call with us.
Files already pre-approved without a property? MoXi margin will be set once we receive the contract with a closing date within 120 days.
New construction with a completion / closing date >120 days? MoXi margin will be floating until a completion date is provided by the developer.
ABOUT OUR RATES
Is MoXi no longer offering fixed rates?
How does MoXi calculate my final loan rate?
When is my interest rate calculated?
What if I need to extend my closing?
With 200+ YEARS OF COMBINED EXPERIENCE
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