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| Mortgage Loan Rates |
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Rates Effective as of 9/8/2008
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| Program |
Rate {1} |
Points |
Fees {2} |
APR {3} |
Principal &
Interest Pmt {3} |
| 30 Year Fixed, Owner Occupied or Investment |
6.500% |
0 |
$500 |
6.562% |
$790.09 |
| 20 Year Fixed, Owner Occupied or Investment |
6.375% |
0 |
$500 |
6.456% |
$922.79 |
| 15 Year Fixed, Owner Occupied or Investment |
6.000% |
0 |
$500 |
6.101% |
$1,054.82 |
10 Year Balloon, Owner Occupied or Investment
(payments based on a 30 year amortization) |
6.250% |
0 |
$500 |
6.343% |
$769.65 |
5 Year Balloon, Owner Occupied or Investment
(payments based on a 30 year amortization) |
6.000% |
0 |
$500 |
6.154% |
$749.44 |
3 Year ARM, Owner Occupied or Investment
(payments based on a 30 year amortization) |
5.625% |
0 |
$500 |
5.579% |
$719.57 |
Fixed Equity Loan,Owner Occupied (15 Yr Term)
with auto pay from an EFSB deposit account |
7.000% |
0 |
$100 |
7.032% |
$449.41 |
| Fixed Equity Loan, Owner Occupied (15 Yr Term) |
7.250% |
0 |
$100 |
7.282% |
$456.43 |
Vacant Land Loan, 10 Year Balloon
(payments based on a 30 year amortization) |
7.500% |
0 |
$300 |
7.681% |
$349.61 |
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1} Based on the rates as of the above date which are subject to change without notice. Rates are subject to credit
approval and a higher rate may be charged based on the applicant(s) credit scores.
{2} Normal fees charged by Eaton
Federal in connection with a mortgage loan. Other costs, such as appraisal, survey, title insurance, credit report,
recording fees, closing fee and flood zone determination are extra. Additional fees will be assessed for construction loans.
{3} Based on a loan amount of $125,000 except for Fixed Equity and Vacant Land loans which are based on $50,000. To get the
quoted APR, a 20% downpayment is required on owner occupied homes and a 25% downpayment is required on non-owner occupied
homes and vacant land. Loans with lesser downpayments are available with mortgage insurance which would increase the APR.
Thirty year loans require 360 monthly payments of principal and interest (P&I). Twenty year loans require 240 monthly payments
of P&I. Fifteen year loans require 180 monthly payments of P&I. Ten year balloon loans require 119 monthly payments of P&I plus
a balloon payment at maturity. Five year balloon loans require 59 monthly payments of P&I plus a balloon payment at maturity.
Monthly payments into escrow for taxes and insurance(s) may also be required. ARM's are variable rate loans whose rate and APR
may increase.
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| Charlotte |
(517) 543-3880 |
Eaton Rapids |
(517) 663-1551 |
| Nashville |
(517) 852-1830 |
Olivet |
(269) 749-2811 |
| Grand Ledge |
(517) 627-6292 |
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