Effective date: August 30, 2026
WowRate Mortgage LLC is a marketing and lead generation company. We are not a lender, we do not take loan applications, and we do not discuss loan terms. Every loan is originated, underwritten, and serviced by a separate licensed lender. The lender's name, NMLS identifier, and state licensing information are provided before you apply. After closing, loans are held by WowRate Mortgage LLC as note holder.
Rates and costs vary by borrower. The table below shows illustrative examples for Reset, a first-lien, owner-occupied 12-month refinance at a 9% fixed, interest-only note rate with a 1.5% origination fee financed, a $50,000 check at closing, estimated closing costs, and the full balance due at maturity. Figures are estimates based on the cost assumptions described under Calculators and estimates below.
| Mortgage payoff | Loan amount | Check at closing | Monthly, interest only | Balloon at month 12 | APR |
|---|---|---|---|---|---|
| $300,000 | $367,008 | $50,000 | $2,753 | $369,760 | 11.83% |
| $400,000 | $469,309 | $50,000 | $3,520 | $472,829 | 11.74% |
| $500,000 | $571,611 | $50,000 | $4,287 | $575,898 | 11.67% |
| $580,000 | $653,453 | $50,000 | $4,901 | $658,354 | 11.64% |
| $700,000 | $776,215 | $50,000 | $5,822 | $782,036 | 11.60% |
| $800,000 | $878,517 | $50,000 | $6,589 | $885,105 | 11.58% |
Move example: a $900,000 home with $150,000 owed, buying a $1,200,000 next home with a $240,000 down payment: $404,822 loan, no monthly payments, $36,434 of interest if the loan runs the full 12 months, $441,256 due when the former home sells or at month 12, whichever comes first, 11.08% APR.
Invest example: a $600,000 as-is value at 70% loan-to-value: $420,000 loan, 2 points $8,400 paid at closing, $3,850 monthly interest-only payment, $420,000 balloon at month 12. Invest loans are business-purpose loans, not consumer credit, so no APR is shown.
The APR reflects the cost of credit as a yearly rate and includes the origination fee, the lender's fee, and, for Reset, financed prepaid interest. Because these loans run twelve months, the APR is higher than the note rate. It does not include third-party charges such as title insurance, appraisal, credit report, settlement, recording, or escrow reserves for taxes and insurance, which are financed into the loan amount but are not finance charges.
For Move, no payments are due until payoff. Interest accrues at the note rate from closing and is paid with the principal in a single payment when the former home sells or at month 12, whichever comes first. The Move APR reflects that single payment at month 12; paying off earlier reduces the interest you pay.
APR is higher on smaller loan amounts, because fixed loan costs represent a larger share of a smaller balance.
Your loan amount, costs, and APR will differ. These are illustrative examples, not an offer or commitment to lend. Your actual terms are provided by the lender on a Loan Estimate.
Each loan may be renewed once for up to 12 months, subject to lender approval. Renewal depends on the lender's criteria at the time, which may include your payment history, an updated property value, a maximum loan-to-value at renewal, and a renewal fee. For Move, the treatment of accrued interest at renewal is set by the lender. A renewal is never guaranteed.
These loans are nontraditional mortgages as described in the Interagency Guidance on Nontraditional Mortgage Product Risks. You should understand the following before you apply.
Ask the lender to explain any feature you do not understand before you apply.
Nothing on this site is an offer to lend, a commitment to lend, or a guarantee of any rate, term, or approval. Product availability and terms are determined by the lender and are subject to credit approval and underwriting.
The calculators on this site are educational tools. All output is an illustrative estimate based on the assumptions you enter. It is not a quote, a pre-approval, or an approval. Your actual terms are set by the lender at the time you apply and may differ from any estimate shown here.
Estimated closing costs shown by the calculators include the lender's origination fee, credit report, appraisal, title insurance, settlement and escrow, recording, reserves for property taxes and insurance, and, for Reset, prepaid interest. Move has no prepaid interest and no payment reserve; interest accrues and is paid at payoff. Title and escrow costs vary by provider, and reserves vary with your property taxes and insurance premiums, so your actual costs will differ.
Homeowner loans (Move and Reset) are available only in Washington, Arizona, Oregon, Florida, and Colorado. Investment-property loans (Invest) are available in Washington, Oregon, and Colorado. Availability may change over time. Loan minimums apply and vary by state.
WowRate Invest loans are business-purpose loans secured by non-owner-occupied investment property and are not consumer credit.
WowRate supports the principles of the Equal Credit Opportunity Act and the Fair Housing Act. We do the same business with everyone regardless of race, color, religion, national origin, sex, marital status, age, or because income comes from public assistance. Equal Housing Opportunity.
This site may link to websites operated by others. WowRate does not control those sites and is not responsible for their content or privacy practices.
Questions about these disclosures can be sent to hello@wowrate.com.