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CONSTRUCTION LOANS
Effective: December 16, 2008 |
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Rates: |
Same as listed on supplemental Mortgage Rate sheet |
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Term: |
6 or 9 months for the construction period |
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Repayment: |
Interest only during construction period |
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Construction Fee: |
1% |
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Appraisal: |
$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: May 23, 2011 |
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Term |
Interest Rate |
Annual Percentage Rate |
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1-5 Years |
4.25% |
4.270% |
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6-10 Years |
4.25% |
4.262% |
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11-15 Years |
5.25% |
5.261% |
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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: Variable Rate
Based on Prime with a Floor of 3.95% |
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LAND LOANS
Effective: March 2011 |
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Term |
Interest Rate |
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Unimproved (65% Maximum Loan to Value Ratio)
Improved (75% Maximum Loan to Value Ratio) |
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Up to 5 Years |
6.500% |
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Up to 10 Years |
7.125% |
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(Rates subject to change without notice!) |
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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) |
