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Adjustable Rate Mortgages*
Including construction. The initial interest rate may be discounted the first year. The annual percentage rate is subject to increase or decrease after closing. *MAXIMUM INCREASE OR DECREASE 2% AT THE TIME OF ANY REVIEW. LIFETIME CAP AT 6%.
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Interest Rate
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Annual Percentage Rate
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Payment per $1000
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1 Year Adj. 0 pts (30 year)
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4.625
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4.630
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$5.15
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1 Year Adj. Mobile Home with Land (15 years)
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6.000
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6.610
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$8.44
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Building Lot (15 Year 180 Months)
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7.125
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7.140
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$9.06
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Vacation Home loan rates are .50% higher than the current rates posted for our conventional fixed rates or our adjustable 7/1, 5/1 or 3/1 loans.
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Raw Land (10 Year 120 Months)
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8.125
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8.150
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$12.20
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3 Year Fixed/1 Year Adjustable*
*MAXIMUM INCREASE OR DECREASE 2% AT THE TIME OF ANY REVIEW. LIFETIME CAP AT 6%.
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Interest Rate
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Annual Percentage Rate
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Payment per $1000
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3/1 ARM 0 pts
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5.625
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4.680
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$5.76
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3/1 ARM 1 pt
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5.125
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4.650
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$5.45
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5 Year Fixed/1 Year Adjustable*
*MAXIMUM INCREASE OR DECREASE 2% AT THE TIME OF ANY REVIEW. LIFETIME CAP AT 6%.
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Interest Rate
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Annual Percentage Rate
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Payment per $1000
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5/1 ARM 0 pts
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6.125
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5.050
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$6.08
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5/1 ARM 1 pt
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5.625
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4.950
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$5.76
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5/1 ARM 2 pts
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5.375
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4.940
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$5.60
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5 Year Fixed/1 Year Adjustable First Time Home Buyer*
($750.00 credit towards closing costs) *MAXIMUM INCREASE OR DECREASE 2% AT THE TIME OF ANY REVIEW. LIFETIME CAP AT 6%.
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Interest Rate
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Annual Percentage Rate
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Payment per $1000
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5/1 ARM First Time Home Buyer 0 pts
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6.125
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5.050
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$6.08
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5/1 ARM First Time Home Buyer 1 pt
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5.625
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4.950
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$5.76
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5/1 ARM First Time Home Buyer 2 pts
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5.375
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4.940
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$5.60
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HomeVantage*
*First time homebuyer for those who have not owned a home in three years - low closing costs - up to 97% financing. *MAXIMUM INCREASE OR DECREASE 2% AT THE TIME OF ANY REVIEW. LIFETIME CAP AT 6%
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Interest Rate
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Annual Percentage Rate
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Payment per $1000
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7 Year Fixed/1 Year Adjustable**
**MAXIMUM INCREASE OR DECREASE 5% AT FIRST CHANGE DATE. 2% ANNUAL CAP. LIFETIME CAP AT 5%.
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Interest Rate
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Annual Percentage Rate
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Payment per $1000
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7/1 ARM 0 pts
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6.375
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5.390
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$6.24
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7/1 ARM 1 pt
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6.000
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5.290
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$6.00
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7/1 ARM 2 pts
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5.625
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5.190
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$5.76
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10 Year Fixed/1 Year Adjustable*
*INCREASE OR DECREASE 2% AT THE TIME OF FIRST REVIEW. SUBSEQUENT ADJUSTMENTS CANNOT INCREASE OR DECREASE MORE THAN 2%. LIFETIME CAP AT 5%.
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Interest Rate
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Annual Percentage Rate
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Payment per $1000
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10/1 ARM 0 pts
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5.750
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5.270
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$5.84
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10/1 ARM 1 pts
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5.500
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5.200
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$5.68
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The
interest rate is adjusted at periodic intervals throughout the life
of the loan. Adjustable rate mortgages have interest rate "caps"
that provide security limiting the rate increase or decrease at
each adjustment and over the life of the loan. This may be a good
choice if you plan to sell your home in a few years or if you anticipate
a significant rise in income.
