Single Family Homes
Requirements:
- Must be stick built home for purpose of primary residence
- Good credit with no history of late payments
- Low Down Payment, no PMI required
- Escrows required for taxes and insurance
- Income must be verified
- Debt to Income not to exceed 41%
- Housing (PITI) not to exceed 31%
- Additional funds for improvements allowed. Funds must be escrowed at closing and monitored for completion*
Limited Closing Costs:
Borrower Closing costs limited to:
- legal fees and transfer tax
- Legal opinion & Doc Preparation
- Appraisal (if required)*
- State Transfer tax - Buyer portion
- Odd days interest
- Initial Escrow Deposit
- All other normal closing costs waived and/or paid by the bank
*If borrowing additional funds for property improvements a new appraisal is required and to be paid by borrower
Rate and Terms:
- Standard amortizations periods only. Call us for details.
- Interest Rate is the Bank's daily published Freddie Mac Lock rate plus 50 basis points
- Interest Rate is Fixed
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Single Family Second Home
Requirements:
- Must be stick built home for personal use (not investment)
- Good credit with no history of late payments
- Low Down Payment, no PMI required
- Escrows required for taxes and insurance
- Income must be verified
- Debt to Income not to exceed 41%
- Additional funds for improvements allowed. Funds must be escrowed at closing and monitored for completion*
Limited Closing Costs
Borrower Closing costs limited to:
- legal fees and transfer tax
- Legal opinion & Doc Preparation
- Appraisal (if required)*
- State Transfer tax - Buyer portion
- Odd days interest
- Initial Escrow Deposit
- All other normal closing costs waived and/or paid by the bank
*If borrowing additional funds for property improvements a new appraisal is required and to be paid by borrower
Rate and Terms:
- Standard amortizations periods only. Call us for details.
- Interest Rate is the Bank's daily published Freddie Mac Lock rate plus 100 basis points
- Interest rate is fixed
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Commercial Real Estate and Investment Properties
Requirements:
- Good credit with no history of late payments
- Low Down Payment
- 3 years tax returns required
- Cash flow to meet FSB policy standards
- Additional funds for improvements allowed. Funds must be escrowed at closing and monitored for completion*
Limited Closing Costs
Borrower Closing costs limited to:
- legal fees and transfer tax
- Legal opinion & Doc Preparation
- Appraisal (if required)*
- State Transfer tax - Buyer portion
- Odd days interest
- Initial Escrow Deposit
- All other normal closing costs waived and/or paid by the bank
*If borrowing additional funds for property improvements a new appraisal is required and to be paid by borrower
Rate and Terms:
- Standard amortization. Call us for details.
- Fixed rate at: 7.00%
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