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Current Mortgage Rates
All Rates Are Subject To
Change Without Notice. All Rates Effective May 13, 2008.
We keep our rates posted online for your convenience in making
financial decisions. Realize rates are subject to change, so
please Contact
Us for details or questions.
FREE
Annual Credit Report
| |
| Type
|
Term
Up To |
Rate
Type |
Rate
As Low As |
| Closed-End |
15 Years
|
3/1 ARM |
4.99% |
| Closed-End |
15 Years
|
5/1 ARM |
5.375% |
| Closed-End |
7 Years
|
Fixed or Balloon
|
5.650%
|
| Closed-End |
10 Years
|
Fixed
|
5.750%
|
| HELOC |
5-15 Years |
Quarterly
|
4.125% |
| Rates
are subject to change without notice. Contact our office to
confirm our current rate. |
| *APR is the Annual Percentage
Rate. |
|
|
Purchase or Refinance of Purchase
The rates listed below are effective as of May 13, 2008. Contact our office to confirm our current rate. All fixed rate programs transfer servicing to PHH Mortgage Corporation. All loans are subject to a $580.00 (PHH) or $185.00 (ACU in-house) processing fee which includes the flood determination, underwriting, and any tax service fees. Other costs may include discount points, credit report, prepaid interest, appraisal, abstracting, Iowa Title Guaranty or title insurance policy, closing fee, attorney title opinion, and recording fees. Costs vary on county and type of transaction. Rates quoted are for loan amounts between $100,000 to $149,999, owner occupied existing home, 30-day lock. There may be adjustments to this rate due to loan amount, LTV, etc.
Contact
Us For Details.
RATES AS LOW AS….
| |
| Type
|
Rate |
Points |
APR
|
| 30 Year Fixed - CF 30 |
6.125% |
0.000 |
6.182% |
6.000% |
0.375 |
6.092% |
5.875% |
0.875 |
6.013% |
| 20 Year Fixed - CF20 |
6.000% |
0.000 |
6.075% |
5.875% |
0.500 |
6.012% |
5.750% |
1.125 |
5.965% |
| 15 Year Fixed - CF15 |
5.875% |
0.000 |
5.969% |
5.750% |
0.500 |
5.922% |
5.625% |
0.625 |
5.816% |
APR is based on 60-day lock, loan amount of $100,000 with $580 processing fee and discount points quoted.
Rates may be adjusted due to credit score, LTV, and type of transaction.
Contact us for details. |
| *APR is the Annual Percentage
Rate. |
|
|
IN HOUSE PROGRAMS:
-
Maximum of 80% LTV on new construction.
-
All loans are kept at ACU and do not require an escrow accounts. No minimum loan amount.
-
For properties in Iowa, Illinois, Minnesota, and Wisconsin.
-
Closing costs may include prepaid interest, flood zone determination, appraisal, abstracting, closing fee, title opinion, and recording fees.
-
RATES AS LOW AS….
| ADJUSTABLE
RATE MORTGAGES: |
|
|
| Type
|
Rate |
Points |
APR* |
| 3/1 Year ARM |
4.990% |
0.000 |
5.010% |
| 5/1 Year ARM |
5.375% |
0.000 |
5.395% |
| 7 Year Fixed or 7 Year
Balloon |
5.650% |
0.000 |
5.671% |
| Conforming
ARM loans also available. Contact us
for details. |
| *APR is the Annual Percentage
Rate. |
|
|
PAYMENT
EXAMPLES
Payments Per $1,000 |
|
|
To figure monthly payment:
Loan Amount / $1,000 * factor below = Estimated Principal &
Interest payment |
|
APR*
|
NUMBER OF YEARS |
30 Years
|
20 Years
|
15 Years
|
10 Years
|
| 5.500% |
$5.68 |
$6.88 |
$8.17 |
$10.85 |
| 5.625% |
$5.76 |
$6.95 |
$8.24 |
$10.91 |
| 5.750% |
$5.84 |
$7.02 |
$8.30 |
$10.98 |
|
5.875% |
$5.92 |
$7.09 |
$8.37 |
$11.04 |
| 6.000% |
$6.00 |
$7.16 |
$8.44 |
$11.10 |
| 6.125% |
$6.08 |
$7.24 |
$8.51 |
$11.16 |
| 6.250% |
$6.16 |
$7.31 |
$8.57 |
$11.23 |
| 6.375% |
$6.24 |
$7.38 |
$8.64 |
$11.29 |
| 6.500% |
$6.32 |
$7.46 |
$8.71 |
$11.35 |
| 6.625% |
$6.40 |
$7.53 |
$8.78 |
$11.42 |
| *APR is the Annual Percentage
Rate. |
|
|
Adjustable Rate Mortgage (ARM)
Loans with a periodically adjustable interest rate, reflecting the changes in a specific financial index. ARMs are typically offered with 1, 3, or 5 year periods before the rate can change.
Closing Costs
Expenses incidental to the closing of title, which are in addition to the price of the property. These items include loan, title and appraisal fees.
Fixed Rate Mortgage
Loan with an interest rate that remains at a specific rate for the entire loan. Approximately 75 per cent of home mortgages are this type
Home Equity Line of Credit (HELOC)
Open-ended line of credit based on a homeowner's equity. Most loan amounts are limited to 75 or 80 per cent of the appraised value. Withdrawals can be made at any time with the guidelines.
Home Equity Loan
Loan allowing owners to borrow against their equity in the home, usually a second mortgage.
Interest Rate
The percentage of the principal amount of a loan that is charged for use of that loan. This amount determines the monthly payment.
Title
The legal right of an ownership interest in a property. Legal document which shows ownership of a piece of real estate.
Loan-To-Value (LTV)
Loan amount divided by the value of property, equals ratio of LTV.
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Equal Housing Lender.
