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Fixed Rate Mortgages Disclosure Information

A Fixed Rate Mortgage means the interest rate is fixed for the term of the loan.

EXAMPLE: A $100,000.00 fixed rate mortgage financed for 30 years at an interest rate of 4.375% would yield an APR* (Annual Percentage Rate) of 4.423% and 359 monthly payments of $499.29 and 1 final payment of $495.74.

*The APR (Annual Percentage Rate) in this example reflects all pre-paid costs with no points and no odd-days interest. The borrower pays the survey cost if a survey is required, title insurance if required, attorney fees, appraisal fee, flood zone determination fee, credit report fee, loan administration fee, mortgage recording fee and tax and abstract re-date. This example assumes the establishment of an escrow account and a 20% down payment on the property. A $350.00 appraisal fee, $200.00 application fee and an $36.00 credit report fee will be collected upon return, by the borrower, of the initial loan disclosures. All loans subject to credit approval. Approval restrictions may apply.

FIRST TIME HOME BUYERS:  If you qualify under the guidelines as a First Time Home Buyer, the applcation fees and loan administration fees are waived.