Construction Loan Rate Disclosure

Home Construction Loan Rate Disclosure

* Annual Percentage Rate (APR).  Limited time offer effective 03/01/2018, subject to change without notice.  Offer applies only to new construction, first mortgages, on owner occupied 1-4 family dwellings.  Monthly payments of interest only are calculated on the actual loan balance. 20% down payment in cash or equity in lot or land required.  The APR of 3.67% is based on a 9-month $150,000 construction loan with 20% down payment.  Monthly payments of interest only will vary and are calculated on the actual loan balance drawn.  Payments may range from $0 to $465 per month and a balloon payment of principal and interest will be due at maturity in the amount of $150,465 assuming the loan has been fully advanced.  Example does not include amounts for taxes and insurance premiums.  Subject to credit approval and property valuation.  Restrictions and fees may apply.

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