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RATES
CURRENT
as of today,
Rates subject to change without notice.
• ALL
LOANS SERVICED LOCALLY • OWNER OCCUPIED HOMES •
• PRE-APPROVALS AVAILABLE
•
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PRODUCT
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POINT
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RATE
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ANNUAL
PERCENTAGE RATE
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*15-YEAR RATE
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0
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4.500%
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4.504%
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**20-YEAR
RATE
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0
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4.875%
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4.878%
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***30-YEAR
RATE
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0
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4.875%
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4.877%
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Inquire about
buying rate down by paying points!!
Fixed
loan rates subject to change daily.
Must qualify for secondary mortgage market. Jumbo Loans available.
Loan to Values exceeding 70% AND
Applicants with credit score
below 679, the loan delivery fee will be 1.25%.
Applicants with credit score
below 639, the loan delivery fee will be 2.00%.
Rate locked in when title work is
completed and closing date set.
Estimated
Closing Cost for a Purchase Transaction in Effingham Area are as follows:
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•
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Appraisal
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250.00
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Estimate
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•
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Credit Report
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24.00
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Estimate
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•
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Title Work
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175.00
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+
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Estimate
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(Title fees on refinances and new construction could
vary)
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•
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85.00
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Estimate
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County Recorder for Deed and Mortgage
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•
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Flood Determination
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24.00
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•
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Documentation Fee
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375.00
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Loan
Application Required Documentation:
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1.
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Residential mortgage loan application completed, signed
by all applicable parties and dated.
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2.
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Copies
of last 2 years Federal tax returns, signed
and dated with last 2 years W2 forms.
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3.
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Copy
of a recent paycheck stub showing current and year to date salary
information.
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4.
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If
Self employed last 2 years of signed Federal Income Tax returns and
year to date Income Statement and Balance Sheet.
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5.
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Copies
of Statements of IRA, 401K and stock.
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6.
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Copy
of purchase agreement signed by all parties.
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Refinances:
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•
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Name,
address, account number, and phone number of current mortgage holder
when refinancing.
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•
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Copy
of title insurance policy when refinancing your loan.
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Other
Important Information:
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A.
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There
are no prepayment penalties on any of our real estate loans.
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B.
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Escrow
accounts for real estate taxes and homeowners insurance are not
required for loans that are less than 80% of appraisal or selling price .
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C.
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Payment
Options: Monthly payments
are due on or before the 1st day of the month, or
Bi-Weekly
(every two weeks) or Semi-Monthly
(twice a month).
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D.
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We
offer automatic payments to loan accounts from your Statement Savings
or
Checking account.
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E.
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Interest is calculated on a 360 day basis on the
principal balance for Monthly
payments,
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F.
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Interest
is calculated from payment date to payment date on Bi-Weekly and Semi-Monthly payments.
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G.
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Closing
statements are usually ready the day before closing for inspection by
the buyer
or seller.
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H.
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Down
payment check needs to be a cashiers check or bank money order for the loan
closing.
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I.
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Appraisals
shall remain the property of the Bank and will be solely to determine
the fair market value of the property for loan underwriting purposes.
Copies of appraisals will be given to customers if the indemnification
agreement is signed by the borrower.
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J.
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Homeowners Insurance binder or policy must be
provided to the bank by time of loan closing.
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*The
above rate assumes a 20% down payment on a loan amount of $100,000 with a
15 year term. The principal & interest payments per month for 180
months for this example would be $764.99 (escrows for insurance and taxes
are not inlcuded & will/may increase the
payment accordingly).
**The
above rate assumes a 20% down payment on a loan amount of $100,000 with a
20 year term. The principal & interest payments per month for 240
months for this example would be $653.07 (escrows for insurance and taxes
are not inlcuded & will/may increase the
payment accordingly).
***The
above rate assumes a 20% down payment on a loan amount of $100,000 with a
30 year term. The principal & interest payments per month for 360
months for this example would be $529.21 (escrows for insurance and taxes
are not inlcuded & will/may increase the
payment accordingly).
Points
– Finance charges paid to the lender as part of the closing costs.
Each point equals 1 percent of your total mortgage loan.
APR – Annual Percentage Rate
*Contact
Jim Rutledge, Randy Jones, or Chris Kabbes if you have any
questions on our home loans or any of our other services.
Note: This information is a brief
description of loans available for single family residences. It does not
fulfill all of the Truth In Lending requirements.
Mortgage Credit
Application
Mortgage Credit
Application (interactive pdf version)
First Time Homebuyer Program
Available
Call for details and appointment
Primary Lending Area, Effingham
and Surrounding Counties.
All Loans Serviced Locally.
Decisions, Inquiries and Payments made here.
Loan
applications available to print from this web site.
Customer eWarning
WASHINGTON SAVINGS BANK will NEVER request any confidential
information from a customer such as account number, social security
number, PINs or passwords by email or phone
call. Never give out confidential information unless you have originated
a voice or in-person conversation and we are requesting this for
identification reasons.
Never give your PIN or password to anyone, including WASHINGTON SAVINGS BANK Staff.
Emails from legitimate sources such as a bank or the FDIC can be faked!
When entering our ebranch (website), only enter
directly at www.washingtonsavings.net in your browser.
Never allow another website (such as a search engine or other website or
bookmark) to transfer you to our website. Websites can be faked if not
entered directly!
