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Mortgage Loans
We Offer:
- Adjustable Rate Mortgages
- Fixed Rate Mortgages
- WHEDA Mortgages
- WDVA Mortgages
- Rural Development
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- Bi-Weekly Mortgage Payments
- Construction Loans
- Home Equity Loans
- Home Equity Line of Credit Loans
- Reverse Mortgage
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Feel free to contact us with any questions or to make an appointment.
Contact:
What's Needed to Process Your Loan Application
Please provide the following items at the time you complete your mortgage
loan application.
- Completed Application & Authorization Form
- Complete Offer to Purchase (If purchasing)
- Most recent 2 pay stubs
- Most recent 2 years W-2 Forms
- Abstract or title insurance policy (If refinancing)
- Most recent real estate tax bill (If refinancing)
- New employment contract or letter of intent for employment (If applicable)
- Most recent 3 months deposit / account statements for down payment funds
- If the deposit statement(s) are printed from an online source, each statement
must be signed and dated.
- If down payment funds are from the sale of an existing home, please provide a
complete copy of the offer to purchase for the property.
- Self-employed borrowers: (Include these items as alternatives to the
pay stubs and requested W-2 Forms listed above.)
- Most recent 2 years tax returns
- Profit and Loss Statement
Once the above information is provided, we will need the completed loan
packet signed by all borrowers. The application process will take approximately
15 minutes to complete. Please contact a loan office to arrange an appointment
to complete your mortgage application.
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Rates displayed are subject to change throughout the day and are not guaranteed as shown.
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Mortgage Loan Rates
As of: Wednesday, March 10, 2010, 7:28am
| Term of Loan | Rate | APR | | 1 Year Adjustable Rate Mortgage | 4.500% | 4.502% | | 3 Year Adjustable Rate Mortgage | 4.780% | 4.782% | | 5 Year Adjustable Rate Mortgage | 5.000% | 5.002% | | 15 Year Fixed Rate Mortgage | 4.375% | 4.489% | | 20 Year Fixed Rate Mortgage | 4.875% | 4.967% | | 30 Year Fixed Rate Mortgage | 5.125% | 5.193% | | Rural Housing Program | 5.375% | 5.629% | | 6 Month Construction Loan | 3.990% | 6.975% | | 10 Year Land Loan | 6.750% | 6.920% |
Rates and costs are subject to change at any time after consummation without advance notice. Fixed rate loan amounts less than $75,000. may
be subject to a higher rate of interest and or additional closing costs. Please see below for detailed descriptions of the above loan types.
Loan and payment example for a;
Adjustable Rate Mortgage APR 1, 3 or 5 Year: APR is based on a loan amount of $100,000., 80% LTV, amortized for 30 years, with 15 days
pre-paid interest a $14.00 flood certification fee, $95.00 loan application fee, $125.00 underwriting fee, $350.00 appraisal fee, $52.00
tax service fee, $85.00 settlement fee, $20.00 wire fee and a $25.00 express mail fee, as pre-paid expenses.
Terms of repayment: (Except construction loans) Repayment of mortgage debt requires monthly installments of principal and interest, along
with optional escrow of taxes, and home owners insurance if so elected. Loans which require private mortgage insurance, call for mandatory
monthly escrow of taxes, home owners insurance and private mortgage insurance at 1/12th their annual estimated costs at time of closing. An
example of a monthly principal and interest payment as a unit cost approach would be; an amortized term of 30 years, with an interest rate of
5.50% would create a principal and interest payment of $5.68 per $1,000. borrowed. This sample does not provide for an estimate of taxes, home
owners insurance or private mortgage insurance, as these variables are specific to an individual property. The costs of these items can be
calculated at 1/12th their annual estimated cost at time of closing. Payment in this sample represents the 1, 3 and 5 year initial principal
and interest payment, as the initial lock term of 1, 3 or 5 year does not impact the initial principal and interest payment. Principal and
interest payments may be different after the initial locked term of 1, 3 or 5 year. Rate adjustments are not tied to any market index and
can be adjusted upward or downward no more than 1% per year with a 6% lifetime cap, at the discretion of the Bank's Board of Directors. Rate
adjustments may occur anytime after the initial 1, 3 or 5 year term of the note, and may affect the principal and interest portion of the
payment if an adjustment were to occur.
Loan and payment example for a;
Fixed Rate Mortgage APR (30 Year): APR is based on a loan amount of $100,000., 80% LTV, amortized for 30 years, with 15 days pre-paid interest
a $14.00 flood certification fee, $95.00 loan application fee, $125.00 underwriting fee, $350.00 appraisal fee, $52.00 tax service fee, $85.00
settlement fee, $20.00 wire fee and a $25.00 express mail fee, as pre-paid expenses.
Terms of repayment: (Except construction loans) Repayment of mortgage debt requires monthly installments of principal and interest, along with
optional escrow of taxes, and home owners insurance if so elected. Loans which require private mortgage insurance, call for mandatory monthly
escrow of taxes, home owners insurance and private mortgage insurance at 1/12th their annual estimated costs at time of closing. An example of
a monthly principal and interest payment as a unit cost approach would be; an amortized term of 30 years, with an interest rate of 5.50% would
create a principal and interest payment of $5.68 per $1,000. borrowed. This sample does not provide for an estimate of taxes, home owners
insurance or private mortgage insurance, as these variables are specific to an individual property. The costs of these items can be calculated
at 1/12th their annual estimated cost at time of closing.
Loan and payment example for a;
Fixed Rate Mortgage APR (20 Year): APR is based on a loan amount of $100,000., 80% LTV, amortized for 30 years, with 15 days pre-paid interest
a $14.00 flood certification fee, $95.00 loan application fee, $125.00 underwriting fee, $350.00 appraisal fee, $52.00 tax service fee, $85.00
settlement fee, $20.00 wire fee and a $25.00 express mail fee, as pre-paid expenses.
Terms of repayment: (Except construction loans) Repayment of mortgage debt requires monthly installments of principal and interest, along with
optional escrow of taxes, and home owners insurance if so elected. Loans which require private mortgage insurance, call for mandatory monthly
escrow of taxes, home owners insurance and private mortgage insurance at 1/12th their annual estimated costs at time of closing. An example of
a monthly principal and interest payment as a unit cost approach would be; an amortized term of 20 years, with an interest rate of 5.50% would
create a principal and interest payment of $6.88 per $1,000. borrowed. This sample does not provide for an estimate of taxes, home owners
insurance or private mortgage insurance, as these variables are specific to an individual property. The costs of these items can be calculated
at 1/12th their annual estimated cost at time of closing.
Loan and payment example for a;
Fixed Rate Mortgage APR (15 Year): APR is based on a loan amount of $100,000., 80% LTV, amortized for 30 years, with 15 days pre-paid interest a
$14.00 flood certification fee, $95.00 loan application fee, $125.00 underwriting fee, $350.00 appraisal fee, $52.00 tax service fee, $85.00
settlement fee, $20.00 wire fee and a $25.00 express mail fee, as pre-paid expenses.
Terms of repayment: (Except construction loans) Repayment of mortgage debt requires monthly installments of principal and interest, along with
optional escrow of taxes, and home owners insurance if so elected. Loans which require private mortgage insurance, call for mandatory monthly
escrow of taxes, home owners insurance and private mortgage insurance at 1/12th their annual estimated costs at time of closing. An example of a
monthly principal and interest payment as a unit cost approach would be; an amortized term of 15 years, with an interest rate of 5.50% would
create a principal and interest payment of $8.17 per $1,000. borrowed. This sample does not provide for an estimate of taxes, home owners insurance
or private mortgage insurance, as these variables are specific to an individual property. The costs of these items can be calculated at 1/12th
their annual estimated cost at time of closing.
Loan and payment example for a;
Rural Housing Program APR: APR is based on a loan amount of $100,000., 80% LTV, amortized for 30 years, with 15 days pre-paid interest a $14.00
flood certification fee, $95.00 loan application fee, $125.00 underwriting fee, $350.00 appraisal fee, $52.00 tax service fee, $85.00 settlement
fee, $20.00 wire fee and a $25.00 express mail fee and a 2% funding fee as pre-paid expenses.
Terms of repayment: (Except construction loans) Repayment of mortgage debt requires monthly installments of principal and interest, along with
escrow of taxes, and home owners insurance. An example of a monthly principal and interest payment as a unit cost approach would be; an amortized
term of 30 years, with an interest rate of 5.50% would create a principal and interest payment of $5.68 per $1,000. borrowed. This sample does
not provide for an estimate of taxes and home owners insurance as these variables are specific to an individual property. The costs of these
items can be calculated at 1/12th their annual estimated cost at time of closing.
Loan and payment example for a;
Construction Loan Rate APR (6 Months): APR is based on a loan amount of $100,000., 80% LTV, no prepaid days of interest, a $14.00 flood certification
fee, $95.00 loan application fee, $125.00 underwriting fee, $350.00 appraisal fee, $52.00 tax service fee and a $85.00 settlement fee as pre-paid
expenses.
Terms of repayment: Payment of construction debt requires monthly installments of interest only. An example of a monthly interest payment as a unit
cost approach would be; an interest rate of 5.50% would create a interest payment of $4.58 per $1,000.00 borrowed, based on a 30 day month. This
sample does not provide for an estimate of taxes and home owners insurance as these variables are specific to an individual property. The costs of
these items can be calculated at 1/12th their annual estimated cost at time of closing.
Loan and payment example for a;
Land Loan APR (10 Year): APR is based on a loan amount of $100,000., 80% LTV, amortized for 30 years, with 15 days pre-paid interest, a $95.00
loan application fee, $125.00 underwriting fee, $350.00 appraisal fee, $52.00 tax service fee, $85.00 settlement fee, $20.00 wire fee and a $25.00
express mail fee, as pre-paid expenses.
Terms of repayment: (Except construction loans) Repayment of mortgage debt requires monthly installments of principal and interest, and offers
optional escrow of taxes if so elected. An example of a monthly principal and interest payment as a unit cost approach would be; an amortized term
of 10 years, with an interest rate of 5.50% would create a principal and interest payment of $10.85 per $1,000. borrowed. This sample does not
provide for an estimate of taxes as this variable is specific to an individual property. The costs of taxes can be calculated at 1/12th their annual
estimated cost at time of closing.
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