First Time Home Buyer Mortgage
Effective May 23, 2013
- Term - 15 Years
- Down Payment Equity - 5%
- Points - 0
- Rate** - 2.875%
- APR* - 3.573%
- Term - 30 Years
- Down Payment Equity - 5%
- Points - 0
- Rate** - 3.625%
- APR* - 4.056%
Above APR's assume a $100,000 loan amount for term stated. Monthly payment example: 360 monthly payments of $4.56 per $1,000 borrowed at 3.625% Interest Rate with a corresponding 4.056% APR.
- Above APR's reflect mortgage insurance premiums financed.
- Above payment example does not include the required payment for escrow (taxes, insurance, etc.).
- Applicants may not have had an ownership interest in residential real estate within the past three years prior to their loan application date under this program.
- Household income limitations apply.
- Other rates and terms available.
- Interest may be tax deductible. Please consult your tax advisor.
- Loan approval subject to Bank's loan underwriting guidelines.
- Any down payment less than 20% of sale price requires mortgage insurance which is required and calculated as part of the APR.
- Title insurance required. Fee paid by borrower.
- Real estate appraisal required. Other closing costs may apply.
- Hazard/Property insurance is required. Flood insurance may be required if real estate collateral is located in a flood zone.
- Mortgage satisfaction fee to be paid by borrower(s) at time of loan payoff.
- Property must be owner occupied and located in the Bank’s geographic lending area.
* Annual Percentage Rate
** Best rate available; credit history may affect your interest rate/APR
Rates subject to change without notice.
Please call or visit any one of our branch offices for further details.
