| Mortgage Rates |
Mortgage Interest Rates For First Time Home Buyers-Fixed Rates
|
| TERM |
Annual Percentage Rate (APR) |
POINTS |
|
|
| 30 Years |
5.000% / 5.086% APR |
0% |
|
|
| Estimated monthly payment of $5.37 per $1,000.00 borrowed. |
| 15 Years |
5.000% / 5.149% APR |
0% |
|
|
| Estimated monthly payment of $7.91 per $1,000.00 borrowed. |
Underwriting Guidelines for First Time Home Buyers
|
| Joint Gross Yearly Income cannot exceed $36,700.00 |
| Low Down Payment |
| Qualifying ratios are Front End -- 33%; Back End -- 38%. |
| MAXIMUM LOAN AMOUNT -- $47,500.00 |
| There is a discount on legal fees through First Federal Savings Bank's approved closing attorney. |
Fixed Rate Mortgages Purchase-Refinance-Construction-Conforming
|
| TERM |
Annual Percentage Rate (APR) |
POINTS |
|
|
| 30 Years |
5.250% / 5.295% APR |
0.00% |
|
|
| Estimated monthly payment of $5.52 per $1000.00 borrowed. |
| 15 Years |
5.000% / 5.076% APR |
0.00% |
|
|
| Estimated monthly payment of $7.91 per $1000.00 borrowed. |
| The above rates are for the PURCHASE, CONSTRUCTION AND NEW FINANCE of OWNER OCCUPIED SINGLE FAMILY DWELLINGS. |
| Loans with Loan to Value in Excess of 80% require PRIVATE MORTGAGE INSURANCE. |
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