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Effective Date: 04/21/09
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Jumbo Loans
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Interest Rate
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Origination Fee/Discount Points
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APR
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LTV
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Maximum Loan Amount
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| 5/3 Reduced Rate ARM - 30 Year | 4.000% | 0/0 | 4.038% | 80% | $417,001- $625,000 | | 30 Year - 5 Year Balloon | 6.125% | 0/0 | 6.146% | 80% | $417.001- $1,000,000 |
Rates are subject to change at any time and are not guaranteed. Other rate and point options may be available. Loan Example: $480,000, 6.125% (6.146% APR); 360 payments of $2916.53 principal and interest. Based on a Sales price of $600,000 with 20% down. Adjustable rate loan has caps of 2 & 5 with a margin of 2.75%. Please call the Mortgage Department at 757-886-3395 for details.
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Real Estate Second Mortgages
Effective Date: 04/21/09
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Second Mortgages
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Interest Rate
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Origination Fee/Discount Points
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APR as low as
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Maximum Loan Amount
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| 5 Year | 6.000%* | 0/0 | 7.213% | $200,000 | | 10 Year | 8.000%* | 0/0 | 8.117% | $200,000 | | 15 Year | 9.000%* | 0/0 | 9.087% | $200,000 | | 30 Year Adjustable (Purchase or Refinance) | 6.250%* | .5/0 | 6.324% | $200,000 | | | | | |
Rates are subject to change at any time and are not guaranteed. Other rate and point options may be available. *Rate and terms will vary depending upon loan to value, loan term and credit qualifications. Listed rate assumes loan to value < 80% with great credit. Loan Example: $30,000 at 7.75% (7.995% APR); 120 monthly payments of $360.03. Please call the Mortgage Department at 757-886-3395 for details.
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Real Estate Home Equity Line of Credit
Effective Date: 04/21/09
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Home Equity Line of Credit
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Interest Rate
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Origination Fee/Discount Points
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APR as low as
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Maximum Loan Amount
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| 20 Year Amortization with a 10 year draw period | As Low as Prime Rate plus 1.00% | 0/0 | 4.25% variable | $200,000 |
Rates are subject to change at any time and are not guaranteed. Other rate and point options may be available. Loan Example: $30,000, 7.00% (7.148% APR); 240 monthly payments of approximately $233 each. Please call the Mortgage Department at 757-886-3395 for details.
* Rate and terms will vary depending upon loan-to-value, loan amount, loan term, and credit qualifications. Non-owner occupied properties are not eligible for promotional rates. Reasonably, closing costs may range from $300 - $1000, but may vary. The maximum annual percentage rate that may be imposed is 18% APR.
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Top
of Page
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Effective Date: 04/21/09
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Construction Loans
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Interest Rate
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Origination Fee/Discount Points
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APR
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LTV
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Maximum Loan Amount
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| Up to 12 Month Term | 7.000% | 1/0 | 9.448% | 80% | determined by permanent loan |
Rates are subject to change at any time and are not guaranteed. Other rate and point options may be available. Loan Example: $240,000, 7.00% (9.448% APR); 12 interest only payments of $1400 based on full draw amount. Based on a Sales price of 300,000 with 20% down. Please call the Mortgage Department at 757-886-3395 for details.
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Real Estate LOT Loans
Effective Date: 04/21/09
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Real
Estate LOT Loans
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Interest Rate
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Origination Fee/Discount Points
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APR as low as
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Maximum Loan Amount
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| 1st Mortgage - 5/15 Balloon Lot Loan | 7.000% | 1/0 | 7.359% | $125,000 |
Rates are subject to change at any time and are not guaranteed. Other rate and point options may be available. Loan Example: $100,000, 7.00% (7.359% APR); 60 monthly payments of $898.83 principal & interest with a balloon payment of $78,311.50 after five years. Based on a Sales price of $125,000 with 20% down. Please call the Mortgage Department at 757-886-3395 for details.
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