|Fixed 15yr Balloon Amortized over 30yrs||1st||15-30 yr||as low as 3.250%||2/5/2016|
|Fixed 15yr Balloon Amortized over 20yrs||1st||15-20 yr||as low as 3.125%||2/5/2016|
|12-15 Year Fixed||1st||12-15 yr||as low as 2.625%||2/5/2016|
|5-10 Year Fixed||1st||5-10 yr||as low as 2.500%||2/5/2016|
|Adjustable 7/1 Arm (30 yr am)||1st||84 mth||as low as 3.250%||2/5/2016|
|Adjustable 10/1 Arm (30 yr am)||1st||120 mth||as low as 3.750%||2/5/2016|
|Construction||1st||12 Months||1% over the perm rate||2/5/2016|
Rates posted are indications only and are effective as of the date listed above. Rates are subject to change without notice. Your actual rate may be different, as many factors go into providing you with a mortgage loan. Rates shown are not intended to be a commitment to the loan type or amount for which you may qualify. All mortgage loans have a 1% origination fee plus prepaid and closing costs. At the time the loan is conditionally approved, a $425 fee is required. Rates listed above apply to loans up to $417,000 only.
Fixed balloon products have a term of 15 years and are amortized over either 20 or 30 years as noted above. Balloon products have an unpaid principal balance due after the fixed 15 year period.
Adjustable-Rate Mortgages are variable and your APR may increase after the original rate period. The adjustable rate mortgages are tied to the Federal Housing Finance Board index. Adjustable rates cannot change more than 2% at the adjustment period and cannot adjust more than 6% over the life of the loan.
For more information on how this product works and its benefits, please call our Mortgage Department at (865) 481-4974. A loan officer will gladly help you determine if this product is right for you.