Mortgage Loans


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Term Interest Rate APR*
30 yrs. 4.000% 4.047%
20 yrs. 3.625% 3.689%
15 yrs. 3.500% 3.582%
10 yrs. 3.375% 3.494%





*APR = Annual Percentage Rate                                  View our complete listing of Mortgage Loan Originators

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 4.000% would yield an APR* (Annual Percentage Rate) of 4.047% and 359 monthly payments of $477.42 and 1 final payment of $474.19.

*The APR (Annual Percentage Rate) in this example reflects all pre-paid costs and odd days interest with no points. The borrower will pay cost of the survey, title insurance, attorney fees, appraisal fee, flood zone determination fee, credit report fee, loan processing fee, mortgage recording tax, abstract re-date and other applicable related costs. A $375.00 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. Homeowner’s insurance will be required as well as flood insurance for applicable areas. All loans are 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 application fees and loan administration fees are waived.
Term Interest Rate APR*
5/1 Year ARM 3.750% 3.796%
5/5 Year ARM

7/1 Year ARM
4.000%

4.250%
4.362%

4.298%







*APR = Annual Percentage Rate                                  View our complete listing of Mortgage Loan Originators

Adjustable Rate Mortgages Disclosure Information

An Adjustable Rate Mortgage (ARM) means the initial interest rate is fixed for an introductory period before adjusting on a predetermined basis. Our 5/1 ARM  and 7/1 ARM are fixed for 5 years and 7 years respectively, then adjust annually and may increase based on a market index, but can’t go above the predetermined adjustment cap.  Our 5/5 ARM is fixed for 5 years, then adjusts every 5 years and may increase based on a market index, but can’t go above the predetermined adjustment cap.

5/1 ARM EXAMPLE: A $100,000.00 5/1 ARM financed for 30 years at an interest rate of 3.750% would yield an APR* (Annual Percentage Rate) of 3.796% and 359 monthly payments of $463.11 and 1 final payment of $466.81.

5/5 ARM EXAMPLE: A $100,000.00 5/5 ARM financed for 30 years at an interest rate of 4.000% would yield an APR* (Annual Percentage Rate) of 4.362% and 359 monthly payments of $477.41 and 1 final payment of $502.55.

7/1 ARM EXAMPLE: A $100,000.00 7/1 ARM financed for 30 years at an interest rate of 4.250% would yield an APR* (Annual Percentage Rate) of 4.298% and 359 monthly payments of $491.94 and 1 final payment of $491.86.

*The APR (Annual Percentage Rate) in this example reflects all pre-paid costs and odd days’ interest with no points. The borrower will pay cost of the survey, title insurance, attorney fees, appraisal fee, flood zone determination fee, credit report fee, loan processing fee, mortgage recording tax, abstract re-date and other applicable related costs. A $375.00 appraisal fee, $200.00 application fee and a $36.00 credit report fee will be collected upon return by the borrower, of the initial loan disclosures. Homeowner’s insurance will be required as well as flood insurance for applicable areas. All loans are subject to credit approval. Approval restrictions may apply.

Term Interest Rate APR*
5/1 Year ARM 4.750% 4.767%
5/5 Year ARM

7/1 Year ARM
5.000%

5.250%
5.018%

5.301%







*APR = Annual Percentage Rate                                  View our complete listing of Mortgage Loan Originators

No Closing Cost Adjustable Rate Mortgages Disclosure Information

An Adjustable Rate Mortgage (ARM) means the initial interest rate is fixed for an introductory period before adjusting on a predetermined basis. Our 5/1 ARM  and 7/1 ARM are fixed for 5 years and 7 years respectively, then adjust annually and may increase based on a market index, but can’t go above the predetermined adjustment cap.  Our 5/5 ARM is fixed for 5 years, then adjusts every 5 years and may increase based on a market index, but can’t go above the predetermined adjustment cap.

No Closing Costs simply means the customer is not charged for many of the “closing costs” of the mortgage. Closing costs range from $1,800.00 - $2,500.00, but are waived. Closing costs may include fees such as title insurance, abstract update, non-escrow, credit report, loan processing, appraisal, attorney fees and other expenses that are non-recurring (one time) charges at the beginning of the loan process. However, under unusual circumstances, the borrower may pay some fees. The mortgage loan account must be kept open for a minimum of 2 years to avoid paying closing costs.

5/1 ARM EXAMPLE: A $100,000.00 5/1 ARM financed for 30 years at an interest rate of 4.750% with no closing costs would yield an APR* (Annual Percentage Rate) of 4.767% and 359 monthly payments of $522.74, and 1 payment of $524.75.

5/5 ARM EXAMPLE: A $100,000.00 5/5 ARM financed for 30 years at an interest rate of 5.000% with no closing costs would yield an APR* (Annual Percentage Rate) of 5.018% and 359 monthly payments of $538.01, and 1 payment of $535.82.

7/1 ARM EXAMPLE: A $100,000.00 7/1 ARM financed for 30 years at an interest rate of 5.250% with no closing costs would yield an APR* (Annual Percentage Rate) of 5.301% and 359 monthly payments of $552.20, and 1 payment of $555.44.

*The APR (Annual Percentage Rate) in this example reflects all pre-paid costs and odd days’ interest with no points. A $375.00 Appraisal Fee is initially collected from the customer, but refunded in full at the time of the loan closing. If the loan does not close and the appraisal was ordered, the Bank retains the $375.00 fee. All loans are 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 application fees and loan administration fees are waived.



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