Lot Loan #3


Lot LoansThis Loan is:
4.375% @ 1 points on a 3/1 ARM (fixed 3 years), 30 year amortization, balloon payment in 6 years (note that a construction loan pays off your lot loan).

4.589% APR (Annual Percentage Rate)

80% to $300,000 loan amount, 75% to $400,000, 70% to $500,000, 65% to $750,000, 60% to $1,000,000 and 55% to $1,500,000.  No structures on property.

5% less loan-to-value if well and septic rather than city water and sewer.  If septic, percolation test required.

65% if raw acreage up to 40 acres.

Refinances OK, add 1 point to fees.   Add 1 point to fees if loan amount $75,000-$100,000.