Example of Discounts

Millennium is committed to providing guaranteed cash credits towards non-recurring closing costs at the close of escrow and pass on additional loan pricing discounts of ¼%.  We have developed unique loan products with special terms and conditions and discounted fees and rates that are exclusively available to you through the Millennium Mortgage Benefit Program.

Discounts
Your loan officer will secure the most competitive pricing from hundreds available and ensure that you receive all the discounts you are entitled to.

RATE DISCOUNT
Choose a loan product from the ones provided through this mortgage benefit program and you’ll receive a ¼% interest rate discount from the standard lender’s rate.

FEE DISCOUNT
At the close of escrow, .0015 of the loan amount will be credited to you (buyer/borrower) for non-recurring closing costs.*  These discounts include:
•    Up to 35% discount on Escrow/Closing fees
•    Up to 25% discount on Title Insurance Premiums
•    15-25% discount on Property Appraisal Fees
•    65-100% discount on Lender Fees

*  The cash credit at closing ( .0015 of the loan amount credited to the buyer/borrower at closing towards buyer/borrower’s non-recurring closing costs) does not apply to stand alone 2nd mortgages, simultaneous 2nds or piggyback 2nds.  Consult your loan officer for details.

Example of Savings Based on a Purchase or Refinance Transaction: $400,000 Loan Amount
Fee Discount	Your Discount	Average Pricing	Your Pricing	Itemized Savings	Total Fee Savings
Cash Credit at Closing	.0015	No Credits	$600 Credit	$600	$2,050 immediate savings
Escrow/Closing Fees	Up to 35%	$1,000	$650 flat fee	$350
Title Insurance Premium	Up to 25%	$1,400	$1,050	$350
Property Appraisal Fees	15%-25%	$350-$400	$300	$100
Lender Fees	60% or more	$750-$1,100	$650 Discount	$650

Rate Discount	Loan Amount	Lender’s Std. Rate	Monthly Payment	Your Discount	Your Rate	New Monthly Payment	Total Rate Savings
5-yr adjustable loan product	$400,000	6.25%	$2,462.82	¼%	6%	$2,398.20	$775.44 annual savings

Fee Discount Rate Discount	$2,050 immediate savings + $ 775 annual savings
	$2,825 1st year total savings