Land LUSO Federal Credit Union 2016-06-16 09:44:56 Not Assigned
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Mortgage Rates Effective as of August 14, 2017. Rates are subject to change without notice.

LAND LOANS

LAND FIXED RATE: Owner Occupied

Fees vary and are due at application
PointsTermRateAPRPayment per $1,000
Borrowed
0 Points5 Year6.000%6.621%$19.33
0 Points10 Year7.000%7.336%$11.61
0 Points15 Year8.000%8.247%$9.56
1 Points5 Year5.750%6.779%$19.22
1 Points10 Year6.750%7.307%$11.48
1 Points15 Year7.750%8.158%$9.41
2 Points5 Year5.500%6.933%$19.10
2 Points10 Year6.500%7.273%$11.35
2 Points15 Year7.500%8.066%$9.27
– APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted.
– Down Payment Requirements: a 25% down payment is required; maximum 75% loan to value.
– Rate Lock Policy: LFCU will rate lock for 60 days for a fee of $500.00 and is refunded upon receipt of closing from attorney; fee is non-refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 60 day period; fee is automatically refunded on denied applications.

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LAND ADJUSTABLE RATE: Owner Occupied

Fees vary and are due at application
PointsTermRateAPRIndexCAPMargin
0 Points1/1Ask for quote.N/A1 YR Treasury2/6+2.50%
0 Points3/3Ask for quote.N/A3 YR Treasury2/6+2.50%
0 Points5/1Ask for quote.N/A1 YR Treasury2/6+2.50%
1 Points1/1Ask for quote.N/A1 YR Treasury2/6+2.50%
1 Points3/3Ask for quote.N/A3 YR Treasury2/6+2.50%
1 Points5/1Ask for quote.N/A1 YR Treasury2/6+2.50%
2 Points1/1Ask for quote.N/A1 YR Treasury2/6+2.50%
2 Points3/3Ask for quote.N/A3 YR Treasury2/6+2.50%
2 Points5/1Ask for quote.N/A1 YR Treasury2/6+2.50%
– APR: Annual Percentage Rate is based on a $100,000.00 loan amount, with a 30- YR amortization.
– Ceiling not to exceed 18.00%; floor not to fall below 2.00%.
– Down Payment Requirements: a 25% down payment is required; maximum 75% loan to value.
– Rate Lock Policy: LFCU will rate lock for 60 days for a fee of $500.00 and is refunded upon receipt of closing from attorney; fee is non-refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 60 day period; fee is automatically refunded on denied applications.
– Review Policy: Reviews CAP at 6% for the life of the mortgage, but will not exceed a 2% adjustment at each review.