|
RATES
ARE EFFECTIVE AS OF
Rates subject to change without notice.
• ALL
LOANS SERVICED LOCALLY • OWNER OCCUPIED HOMES •
• PRE-APPROVALS AVAILABLE
•
|
ADJUSTABLE MORTGAGE LOAN
|
RATE
|
TERMS
|
|
1-YEAR AML
|
5.000%
|
Rate
for first year.
Rate adjusts annually.
|
|
3-YEAR AML
|
5.000%
|
Rate for
first three years.
Rate adjusts every three years.
|
|
7-YEAR AML
|
5.250%
|
For first
seven years then adjusts yearly similar to 1-Year AML.
|
|
All AML
Loans have a maximum of a 30 year amortization.
|
|
FIXED
MORTGAGE RATE LOANS
|
15-YEAR
|
20-YEAR
|
30-YEAR
|
|
ONE POINT
|
5.500%
|
5.875%
|
6.000%
|
|
NO POINTS
|
5.750%
|
6.125%
|
6.250%
|
|
Fixed loan
rates subject to change daily.
Must qualify for secondary mortgage market. Jumbo Loans available.
Rate locked in when title
work is completed and closing date set.
|
|
CONSTRUCTION
LOAN
|
RATE - 6
Month
|
RATE - 9
Month
|
|
CONSTRUCTION
LOAN
|
5.250%
|
5.375%
|
Estimated
Closing Cost for a Purchase Transaction in Effingham Area are as
follows:
|
•
|
Appraisal
|
|
250.00
|
|
Estimate.
|
|
|
|
•
|
Credit Report
|
|
24.00
|
|
Estimate.
|
|
|
|
•
|
Title Work
|
|
175.00
|
+
|
Estimate.
|
|
(Title fees on refinances and new construction could
vary)
|
|
•
|
Recording Fees
|
|
85.00
|
|
Estimate.
|
|
County Recorder for Deed
and Mortgage
|
|
•
|
Flood
Determination
|
|
24.00
|
|
|
|
|
|
•
|
Documentation Fee
|
|
375.00
|
|
|
|
|
|
PMI (if
applicable) Mortgage insurance required if over 80% loan.
|
Loan Application Required Documentation:
|
1.
|
|
Residential mortgage loan application completed,
signed by all applicable parties and dated.
|
|
2.
|
|
Copies of last 2 years Federal tax returns,
signed and dated with last 2 years W2 forms.
|
|
3.
|
|
Copy of a recent paycheck stub showing current and
year to date salary information.
|
|
4.
|
|
If Self employed last 2 years of signed Federal Income
Tax returns and year to date Income Statement and Balance Sheet.
|
|
5.
|
|
Copies of Statements of IRA, 401K and stock.
|
|
6.
|
|
Copy of purchase agreement signed by all parties.
|
|
|
|
|
|
Refinances:
|
|
•
|
|
Name, address, account number, and phone number of
current mortgage holder when refinancing.
|
|
•
|
|
Copy of title insurance policy when refinancing your
loan.
|
Other Important Information
|
A.
|
|
There are no prepayment penalties on any of our real
estate loans.
|
|
B.
|
|
Escrow accounts for real estate taxes and homeowners insurance
are not required for loans that are less than 80% of appraisal or
selling price .
|
|
C.
|
|
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).
|
|
D.
|
|
We offer automatic payments to loan accounts from your
Statement Savings or
Checking account.
|
|
E.
|
|
Interest is calculated on a 360 day basis on the
principal balance for Monthly payments,
|
|
F.
|
|
Interest is calculated from payment date to payment
date on Bi Weekly and Semi Monthly payments.
|
|
G.
|
|
Closing statements are usually ready the day before
closing for inspection by the buyer
or seller.
|
|
H.
|
|
Down payment check needs to be a cashiers
check or bank money order for the loan closing.
|
|
I.
|
|
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.
|
|
J.
|
|
Homeowners Insurance
binder or policy must be provided to the bank by time of loan
closing.
|
|
*Contact Greg Dust, Jim
Rutledge, or Randy
Jones 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!
|
