Mortgage Loans and Rates
Dreaming of owning your own home? At South Side Bank, we offer mortgage loans with many advantages. We can service our loans locally, while offering competitive rates. Best of all, our Mortgage Loan Officers will pre-qualify a potential homebuyer at no charge. Questions? Ask Amanda Cornell or please click here to contact the branch closest to you.
Rates as of Thursday, February 2, 2012 |
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| Product Description | Points | Interest Rate as Low as | APR* as Low as | Payment per $1,000 |
| Conventional Fixed-Rate Loans ($30,000.00 - $417,000.00) | ||||
| 30 Year | 0.000 | 3.875% | 3.920% | $4.70 |
| 20 Year | 0.000 | 3.875% | 3.940% | $5.99 |
| 15 Year | 0.000 | 3.125% | 3.200% | $6.97 |
| Jumbo Fixed-Rate Loans ($417,001.00 - $1,000,000.00) Call For Rate Quotes On Loan Amounts Greater Than $417,000 | ||||
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Mortgage rates are subject to change without notice at any time until you have locked a loan. Rate and points may be locked in for 60 days from the date of application
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The APR and Monthly Payment per $1,000.00 calculations are based on a no cash-out refinance loan amount of $165,000 for conventional loans, 75% loan-to-value ratio, and a qualifying FICO credit score of 740 or greater. Private Mortgage Insurance (PMI) is required for loans over 80% loan-to-value
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To determine your approximate monthly payment (excluding PMI and escrows) divide your home loan amount by $1,000.00 and then multiply this by the appropriate dollar amount in the Monthly Payment per $1,000.00 column. (For example, a $100,000.00 , 30 year fixed rate, 0 point home loan would be computed as follows: $100,000/1,000=100; 100 x $4.70=$470.00).
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Payments per thousand reflects only the principal and interest payment. The actual payment obligation will be greater since amounts for taxes and insurance premiums are not included in the payment per thousand amount
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Above rates apply to 1-4 family owner occupied homes
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