As of January 17, 2020
The rates listed below are for Owner Occupied One to Four Family homes*
Not all rates are posted. Please contact our mortgage professionals for additional information.
Adjustable Rate Mortgage (ARM) Loans**
Adjustable Rate Mortgage (ARM) Loan Buydowns**
*PMI (Private Mortgage Insurance Required)
**ARM Additional Terms & Conditions
ARM interest rates and payments are subject to increase after the initial fixed-rate period (1 year for a 1/1 ARM and 3 years for a 3/1 ARM)
The Libor is the One-Year LIBOR as published by the Wall Street Journal.
The Minimum Rate is the Initial Rate for that product.
The maximum increase in Rate per adjustment is 2%.
The Maximum Rate for the 1/1 ARM is 4.500% above Initial Rate.
The Maximum Rate for the 3/1 ARM is 5.250% above Initial Rate.
All loan products are subject to credit and property approval. All mortgage loans are originated by Cross County Savings Bank. This Rate Sheet does not represent any offer to enter into a loan agreement.
Fees and prepayment charges may apply depending on the loan product you select. Fees are subject to change.
Refinancing to payoff existing debt may extend the term of the debt, possibly resulting in higher overall costs and increasing the total amount paid.
Other terms, conditions and restrictions may apply. Please contact our mortgage professionals to inquire about all of the conditions that apply to the loan product that you are interested in.
The annual percentage rate (APR) is the annual rate charged for borrowing, and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan.
Owner Occupied Residential purchase loans secured by a one or two family property are subject to a maximum 95% loan-to-value (“LTV”)*. A loan with a 95% LTV (or as selected by borrower) will require a minimum down payment of 5% (or as selected by borrower). Any owner occupied residential purchase loan in excess of 80% loan-to-value will require Private Mortgage Insurance (“PMI”).
Owner Occupied Residential purchase loans secured by a three or four family property are subject to a maximum 80% loan-to-value. A loan with a 80% LTV (or as selected by borrower) will require a minimum down payment of 20% (or as selected by borrower).
Owner Occupied Residential refinance loans secured by one to four family properties are subject to a maximum 75% loan-to-value.
Certain property types are not eligible as collateral.
Property insurance is always required. Flood insurance may be required, when necessary.
LTV is a number that describes the amount of a loan as a percentage of the value of the property securing the loan.
For adjustable rate mortgages, the interest rate may increase after consummation. Minimum Rate is the Initial Rate.
PLEASE NOTE THAT ALL RATES ARE SUBJECT TO CHANGE AT ANY TIME.