| |
LOAN
PROGRAMS
Our
primary business is
making loans for the
purchase, construction
and refinance of
homes. We also lend on
residential rental
properties, commercial
real estate, and on
vacant land. We make
real estate line of
credit loans, home
equity, and home
improvement loans.
This is a summary of some highlights of our loan programs. Please stop in, call us or email us for details. We've been helping families own their homes since 1895 and we want to help your family, too. We're proud to be an Equal Housing Lender, so you know you'll receive fair treatment from us.
Contact a loan officer today! (Click on a name) |
|
| |
Fixed
Rate Home Loans
Fixed Rate Home
Loans can be made
for up to $1,000,000
and 90% of the
appraised value,
normally not to
exceed 100% of
purchase price. We
offer terms to 30
years.
• No application
fee.
• No prepayment
penalty.
• Closing costs
are $700.00 plus
Appraisal Fee and
Title Charges*.
• We do not
require Private
Mortgage Insurance (PMI).
1-4 Family Rental Property Loans
Loans up to 85%
of the appraised
value or
purchase price
(whichever is
lower).
• No
application fee.
• No
prepayment
penalty.
• Closing
costs are 1% of
the loan
(minimum
$700)
plus
Appraisal Fee
and Title
Charges*
Three types of Rental programs are available:
• A 25 Year fixed rate
• A 30 Year ("1/1") Adjustable Rate
• A 30 Year ("5/1") Adjustable Rate
^TOP^
5 or more Residential Property
& Commercial Property Loans
Specifics will vary depending on your
individual situation.
Home Equity
Line of Credit
• No Application Fee
• 10 Year Draw Period (Interest Only)
• Additional 10 Year Repayment Period
• $10,000 Minimum
• $50 Annual Participation Fee
• Free Checks
• Minimal Closing Costs
• See our rate sheet for competitive rates
Home Equity
Loan
• Fixed Rate
• 15 Yr.
Term
• 90% of
the Appraised
Value
• No
Application Fee
• Minimal
Closing Cost
Home
Improvement Loan
• Fixed Rate 7
Year Term
• Maximum
$10,000
• No
Application Fee
• Minimal Closing Costs
Land Loans
^TOP^
• 65% of
the Appraised Value
• No
Application Fee
• 10 Year 1/1
ARM
• Closing Costs 1% of
the
Loan
plus Appraisal
Fees and Title Charges (Minimum
$700).
• $100,000
Maximum
|
|
Adjustable Rate Mortgage ("ARM")
Home Loans
Adjustable Rate Mortgage Home Loans can be made for up to $1,000,000 and
90% of the appraised
value, normally not to
exceed 100% of the
purchase price. We offer
terms to 30 years.
•
No
application fee.
• No prepayment
penalty.
• Closing costs are
$700.00 plus Appraisal
Fee and Title Charges
• We do not require
Private Mortgage
Insurance (PMI).
We have three types of Adjustable Rate Mortgage Loan programs:
•
1/1 ARM - rate
fixed for first
year.
• 3/1 ARM -
rate fixed for
first three
years.
• 5/1 ARM -
rate fixed for
first five
years.
Loan Details
• Adjustable
Rate Mortgage
Loans have a
margin of 3%
with an annual
cap of 2% and a
life of loan cap
of 5%.
•
Interest Rate
buydowns
available.
•
300 day Rate lock is
available
•
We have a written
preapproval service
for no fee.
*
We do not require
escrow of taxes or
insurance.
•
Credit Concerns?
We do not
use credit
scoring. Our
credit standards
are available to
you upon
request.
• We do not sell loans.
We are not bound
by secondary
market rules.
•
No Prepayment
Penalty, No
Surprise Costs
at closing.
•
Neighbors
Helping
Neighbors
Program for
first-time
homebuyers.
Loan Closing Convenience
We use many Title Companies to close our loans. Call for a current list of Title Companies.
Lending Area
We lend in all of Fairfield County and neighboring
counties.
*Appraisal
Fee and Title
charges are
based on the
type of loan and
loan amount.
They include,
but are not limited
to, closing
fees, title
examination,
commitment fee
and title
insurance.
•
Recording fees
and Flood Plain
determination
fees apply to
all loans.
|
|
Equal Housing Lender