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Adjustable Rate Mortgages
Our adjustable Rate Mortgages offer the benefit of low rates with flexibility!
(Accurate as of 01/01/09)5.00% 2.00% up or down per change The interest rate cannot increase more that 5% or decrease more than 1.5% from the initial (base) rate over the term of the loan. The interest rate will be based on the "Contract Interest Rate, Purchase of Previously Occupied Homes, National Average for all Major Types if Lenders" index plus our margin.
- The above shown APR is based on a $100,000.00 conventional mortgage loan witha 20% down payment.
- MAXIMUM TERM OF ADJUSTABLE RATE LOANS IS 30 YEARS.
- ADJUSTABLE RATES BASED ON $100,000.00 FOR A 30 YEAR TERM.
- Non-Owner occupied mortage loans are available at +1% above the rates shown above.
- Equitable Savings and Loan may assign, sell, or transfer the servicing of mortgage loans. Equitable Savings and Loan is able to service these mortgage loans. For all the first lien mortgage loans to be made in the next 12 months, it is estimated that 0% of such loans will be assigned, sold or transferred. No loans have been assigned , sold, or transferred in the previous three years.
- ALL OF THE ABOVE REQUIRE 10% DOWN FOR RESIDENTIAL PROPERTIES.
- RESIDENTIAL LOANS WITH LESS THAN 20% DOWN WILL REQUIRE PRIVATE MORTGAGE INSURANCE.
- NORMAL CLOSING COSTS: POINTS, APPRAISAL FEE, TITLE EXAMINATION, INSPECTION FEES FOR PROPERTY IMPROVEMENT, CREDIT REPORT FEE, RECORDING FEES, PRIVATE MORTGAGE INSURANCE ON OVER 80% LOANS, PEST INSPECTION ON PURCHASE MONEY TRANSACTIONS.
NOTE: APR = Annual Percentage Rate
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114 South
Main Street P.O. Box 267 Cadiz, Ohio 43907-0267 |
Phone:
740-942-2092 Toll-free: 800-481-4713 Fax: 740-942-4220 |