Mortgage Loans
We offer 36 month mortgage balloon loans. This means the rate may change every 36 months and may increase or decrease at that time. We will loan up to 80% of the appraised value of your home. Applicants must pay the attorney fee, appraisal fee, flood determination fee and pest inspection fee. We do not charge any points or origination fees.
Your payment amount can be based on either a 20 or 30 year amortization. At the current Annual Percentage Rate of 7.25%, a monthly payment of $79.04 for each $10,000.00 financed is due on a 20 year first mortgage loan. At the current APY of 7.25%, a monthly payment of $68.22 for each $10,000.00 financed is due on a 30 year first mortgage loan.
At the current APR of 8.75%, a monthly payment of $88.37 for each $10,000.00 financed is due on a 20 year 2nd mortgage loan.
