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Rates As Of March 27, 2017
Term
10 Year
15 Year
20 Year
30 Year
Conventional
3.375%
3.500%
4.000%
4.250%
FHA
3.625%
N/A
4.000%
N/A
VA
3.750%
N/A
4.250%
N/A
USDA
4.125%
N/A
N/A
N/A
Home Ready
N/A
3.500%
N/A
4.250%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conventional Mortgages

Are you looking for the security of a fixed rate and monthly payment? Make budgeting easier with a traditional fixed-rate mortgage. Because your rate is locked in for the entire term of your loan, you can have peace of mind knowing your payment will never increase.

  • Fixed terms of 10, 15, 20 and 30 years
  • Down payment requirements of 3%
  • Refinancing available, including cash out, so you can access your home's equity for remodeling projects, debt consolidation and life's other expenses
  • First-time home buyer programs
  • Lender paid PMI options available*
  • Available for owner-occupied single family homes, condominiums and town homes located in Ohio, Michigan, Indiana, Kentucky, and West Virginia
  • Financing also available for vacation homes and investment properties


HomeReady Loans   

  • Fixed term of 15 or 30 years
  • Lower PMI or NO PMI options available (Private Mortgage Insurance)
  • Smaller down payment (as a little 3% down)
  • First-time home buyer course required 
  • Must be a First Time Home Buyer
  • Medium Income Requirements

FHA Loans

With an FHA loan, the minimum down payment is a low 3.50% of the purchase price, making this an affordable option for those wanting to purchase or refinance a home with little cash down.

  • Minimum down payment of 3.5%
  • Available in 15 or 30 year fixed terms
  • Available for purchase or refinance
  • First-time home buyer and existing homeowners are eligible
  • Maximum loan amount is $271,050
  • FHA loans do require an upfront mortgage insurance premium, unlike other conventional loans, but the amount of the premium may be financed into the loan
  • Available for owner-occupied single family homes, condominiums and town homes located in Ohio, Michigan, Indiana, Kentucky, and West Virginia


Rural Development Loans

  • 100% mortgage LTV based on the APPRAISED value
  • Zero down payment and there is no minimum contribution required
  • 30 year fixed rate only
  • Low Interest rates, this is a not a sub-prime mortgage. 
  • Flexible Credit Guidelines
  •  
VA Loans

Eligible veterans, reservists, and Active Duty personnel and their eligible spouses with suitable credit, sufficient income and a valid Certificate of Eligibility (COE) can take advantage of 100% financing options with a VA Mortgage, guaranteed by the Department of Veterans Affairs. The property must be occupied by the veteran as their primary residence.

  • Finance options up to 100%, Zero Downh Payment
  • 15/30 Year Fixed Rate Term
  • Reduced Closing Cost

 

 

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