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Personal Overview > Loans > Mortgages > Fixed Rate Mortgage
Summary
- Down payment may be a low as 5% (Private Mortgage Insurance may be required).
- Keeps payments constant by retaining the same interest rate over the life of the loan.
- Costs include a low application fee (non-refundable) plus closing costs which may include points. Reserves for taxes and insurance may be required.
- Must meet Morgan Bank’s underwriting guidelines.
- Enjoy the convenience of having your home loan payment automatically deducted from your Morgan Bank checking account.
- Our Loan Officers can meet with you—at your home or office—to discuss your loan application.
Current Interest Rates
| Fixed Rate Options |
|
Term
|
Rate
|
Annual Percentage Rate
|
Points
|
15 years |
5.750 |
5.921 |
0 |
20 years |
6.000 |
6.140 |
0 |
30 years |
6.250 |
6.356 |
0 |
30 years |
6.000 |
6.148 |
1.25 |
30 years |
5.875 |
6.202 |
2.125 |
Note: 1-4 family owner occupied. APR is calculated using
a $175,000 mortgage. Not every customer will
qualify for this rate. See your Lorain National Bank
Loan Officer for details. All rates subject to credit
approval and accurate as of Sept.4, 2008.
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Doug Rogers 