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CONSTRUCTION LOANS
Effective: October
29, 2008
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Rates:
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Same as listed on supplemental Mortgage Rate sheet
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Term:
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6 or 9 months for the construction period
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Repayment:
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Interest only during construction period
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Construction Fee:
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1%
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Appraisal:
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$300.00 plus $350.00 for inspections
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12 Month
Construction Loan: Prevailing 30 year rate with 0 points plus 1%, in
addition to 1% construction fee.
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HOME EQUITY LOANS
Effective:
October 29, 2008
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Term
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Interest
Rate
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Annual
Percentage Rate
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1-5 Years
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6.650%
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6.657%
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6-10 Years
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7.250%
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7.257%
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11-15 Years
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7.625%
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7.631%
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**No Fee Special**
$15,000.00 New Money OR an Additional $15,000.00 for existing customers
Closing Fees: $335.50 (under $15,000.00 of New Money)
Title Insurance required over $100,000.00
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Home Equity
Line-Of-Credit: Prime + 0 = 4.00%
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INVESTMENT LOANS
Effective:
October 9, 2007
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Term
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Interest
Rate
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Points
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Annual
Percentage Rate
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5 Years
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6.875%
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0.00 Pts.
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6.883%
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7 Years
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7.125%
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0.50 Pts.
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7.321%
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10 Years
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7.375%
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1.00 Pts.
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7.615%
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15 Years
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7.875%
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1.00 Pts.
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8.051%
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20 Years
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8.375%
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1.00 Pts.
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8.522%
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(All
require a 25% Down Payment - Rates subject to change without notice!)
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LAND LOANS
Effective:
October 9, 2007
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Term
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Interest
Rate
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Annual
Percentage Rate
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Un-Developed
(65% Maximum Loan to Value Ratio)
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5 Years
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6.500%
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6.507%
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10 Years
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7.125%
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7.132%
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15 Years
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7.750%
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7.757%
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Developed (75%
Maximum Loan to Value Ratio)
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5 Years
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6.250%
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6.257%
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10 Years
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6.625%
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6.631%
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15 Years
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7.000%
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7.006%
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(Rates
subject to change without notice!)
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Commercial Equity
Effective:
October 29, 2008
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Term
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Interest
Rate
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Annual
Percentage Rate
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1-3 Years
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6.875%
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6.886%
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4-5 Years
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7.125%
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7.133%
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6-10 Years
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7.600%
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7.607%
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11-15 Years
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7.750%
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7.763%
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Maximum loan
amount: $75,000.00
Closing Fees: $335.50
Commercial Line-Of-Credit – Secured: Prime + 1.5% = 5.50%
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(All
require a 25% Down Payment - Rates subject to change without notice!)
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PURCHASE LOANS
Effective:
December 13, 2007
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Term
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Interest
Rate
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Annual
Percentage Rate
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Origination
Fee
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Appraisal/Credit
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15 Yrs
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6.8750%
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6.880%
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0.00%
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$250.00 -
$62.00
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15 Yrs
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6.5000%
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6.669%
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1.00%
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$250.00 -
$62.00
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15 Yrs
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6.3750%
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6.778%
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2.50%
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$250.00 -
$62.00
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20 Yrs
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7.1250%
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7.131%
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0.00%
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$250.00 -
$62.00
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20 Yrs
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6.8750%
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7.013%
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1.00%
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$250.00 -
$62.00
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20 Yrs
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6.6250%
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6.950%
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2.50%
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$250.00 -
$62.00
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30 Yrs
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7.2500%
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7.256%
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0.00%
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$250.00 -
$62.00
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30 Yrs
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7.0000%
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7.107%
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1.00%
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$250.00 -
$62.00
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30 Yrs
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6.8750%
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7.128%
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2.50%
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$250.00 -
$62.00
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(30 year amortization but must be Paid-Off,
reset or refinanced after 84 payments.)
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5 Yr Balloon
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6.6000%
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6.608%
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0.00%
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$250.00 -
$62.00
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(30 year amortization but must be Paid-Off,
reset or refinanced after 60 payments.)
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Modification fees: -0- point Program fee: $500.00
+ $50.00 Processing fee.
Any program where points would be quoted points or
$500.00 whichever is greater plus $50.00 processing fee.
- Rates
subject to change daily. Please call for current rates.
- A.P.R.
is calculated assuming 20% down payment
- A
down payment of 5% to 19% requires Private Mortgage Insurance
- *Loans
over 10 acres -- Kept in House - rate + 50 basis points
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(Note: Interest rates are subject to
change without notice)
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