Mortgage
Loan Rates
|
Rates
Effective as of August 7, 2008
|
| The
following loan rates are available for properties located within the Lower
Eastern Shore of Maryland, Accomack County, Virginia, and Lower Delaware. |
| Primary/Secondary
Homes
(includes Construction/Permanent) |
| Product |
Max.
Term |
Interest
Rate |
APR |
*Payment
per $1,000.00 |
| 1 Yr. ARM** |
30
Yrs. |
5.500% |
5.080% |
$ 5.68 |
| 3 Yr. ARM** |
30
Yrs. |
5.625% |
5.663% |
$ 5.76 |
| 5/1 Yr. ARM** |
30
Yrs. |
6.000% |
5.421% |
$ 6.00 |
| 10/1 Yr. ARM** |
15
Yrs. |
5.875% |
5.861% |
$ 8.37 |
| 10/1Yr. ARM** |
30
Yrs. |
6.125% |
5.774% |
$ 6.08 |
| Fixed Rate*** |
10
Yrs. |
6.000% |
6.092% |
$ 11.10 |
| Fixed Rate*** |
15
Yrs. |
6.250% |
6.315% |
$ 8.57 |
| Fixed Rate*** |
30
Yrs. |
6.625% |
6.665% |
$ 6.40 |
|
Maximum Loan-To-Value for Primary Residence = 95%
Maximum Loan-To-Value for Second Homes and Construction/Permanent = 90%
|
| Investment
Properties and Unimproved Lots |
| Product |
Max.
Term |
Interest
Rate |
APR |
*Payment
per $1,000.00 |
| For
Investors |
| 1 Yr. ARM** |
30
Yrs. |
6.125% |
5.595% |
$ 6.08 |
| 3 Yr. ARM** |
30
Yrs. |
6.375% |
6.229% |
$ 6.24 |
| For
Lot Loans |
| 1 Yr. ARM** |
20
Yrs. |
6.125% |
5.669% |
$ 7.24 |
| 3 Yr. ARM** |
20
Yrs. |
6.375% |
6.258% |
$ 7.38 |
| 5/1 Yr. ARM** |
20
Yrs. |
6.625% |
6.118% |
$ 7.53 |
|
Maximum
Loan-To-Value for Investor= 80%
Maximum Loan-To-Value for Lot Loans = 90% (PLATTED SUBDIVISION ONLY)
Maximum Loan-To-Value for Lot Loans Not in Platted Subdivision = 75%
Jumbo Adjustable Rate Loans — 1/2 point charged for loan amounts greater than $500,000.
Jumbo Fixed Rate Loans Available - Please call for current rate
information |
Commercial
Loans and Mobile Home/Lot Financing Available |
| *
Monthly loan payment per $1,000 borrowed is based on the interest rate and
maximum loan term quoted for each loan product. |
| Annual
Percentage Rate is based on the index for the week of: |
| August 07, 2008 |
| **
The interest rate on Adjustable Rate Mortgage (ARM) loans may increase after
the loan has been consummated. For more information describing the features
of Adjustable Rate Mortgages, please contact your nearest branch office
or eMail.
*** ½ Point Charged on Fixed Rate Construction/Permanent.
Inspection
fees are required. The interest rates quoted are subject to revision without
prior written notice.
|
