Fixed Rate Mortgages
- Secured by real estate
- 15, 20 and 30 year fixed rate options available
- Interest rates are posted on the daily rate sheet.
- Required for application:
- Mortgage application
- Signed borrowers authorization
- Recent paycheck stub (2 years income tax returns – if self employed)
- Recent bank and investment statements
- Legal description of the property
- Homeowners Insurance Information
- Required for application:
Adjustable Rate Mortgages
- Secured by real estate
- 1,3,5,7,10 year adjustable, with up to a 30 year amortization (fixed rate for a stated period of time than annual adjustments on the anniversary date)
- Interest rates are posted on the daily rate sheet.
- Required for application:
- Mortgage application
- Signed borrowers authorization
- Recent paycheck stub (2 years income tax returns – if self-employed)
- Recent bank and investment statements
- Legal description of the property
- Homeowners Insurance Information
- Required for application:
Construction Loans
- 9 month interest only payments
- Payments based on outstanding balance
- When home is completed they can convert to a fixed rate (automatically converts to a 5 year adjustable rate at the end of the nine months)
- End rate if fixed is determined by current market rates
- Required for application:
- Mortgage application
- Signed borrowers authorization
- Recent paycheck stub (2 years income tax returns – if self employed)
- Recent bank and investment statements
- Legal description of the property
- Construction contract
- Required for application: