Construction Mortgage
Effective July 31, 2014
(All terms require down payment equity of 20%)

15 Year Term

  • Points - 1
  • Rate** - 3.375%
  • APR* - 3.709%

20 Year Term

  • Points - 1
  • Rate** - 4.000%
  • APR* - 4.215%

30 Year Term

  • Points - 1
  • Rate** - 4.250%
  • APR* - 4.397%

Above APR's assume a $100,000 loan amount for term stated. Monthly payment example: 348 monthly payments of $5.00 per $1,000 borrowed at 4.250% Interest Rate with a corresponding 4.397% APR.

  • Outstanding mortgage lien balances will be used in calculations.
  • Above payment example does not include the required payment for escrow account (taxes, insurance, etc.)
  • Interest may be tax deductible, please consult your tax advisor.
  • Loan approval subject to Bank's Loan Underwriting Guidelines.
  • If down payment is less than 20%, Private Mortgage Insurance may be required which increases the APR.
  • Title insurance required, with fee to be paid by borrower(s). 
  • Real estate appraisal required. Other closing costs may apply.
  • Maximum loan to value [LTV] is 80%; requires minimum down payment/equity of 20%.
  • Hazard/Property Insurance is required and Flood Insurance may be required if real estate collateral is located in a flood zone. 
  • Mortgage satisfaction fee to be paid by borrower(s) applies at loan/line of credit 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.

 

Home