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 Current Rates


 

Rates effective as of 07/21/2008

In some cases, rates are based
on the most recent Prime rate as published in the Wall Street Journal. Rates are subject to change at any time. Please call 219-322-5005 to verify the current rates. Thank you.

Online rates are for your information only. While we make every effort to keep them current and accurate, mistakes or typos cannot be honored.

Mortgage Loans | Home Equity Lines
Home Equity Loans | Home Improvement Loans
Lot Loans | Vehicle Loans

 

Mortgage Loans

Fixed Rate Loans+

Term & Type Rate APR*
30 Year Fixed 6.625% 6.669%
20 Year Fixed 6.500% 6.558%
15 Year Fixed 6.125% 6.197%
10 Year Fixed 5.875% 5.976%

Adjustable Rate Loans+

Term & Type Rate APR*
7/23 (2 Step) 6.250% 6.334%
3/30 ARM 5.875%(1) 5.918%
1/1 ARM 5.500%(2) 5.542%
3/1 ARM 5.875%(2) 5.918%
5/1 ARM 6.000%(2) 6.043%
7/1 ARM 6.125%(2) 6.168%

Balloon Loans+

Term & Type Rate APR*
3 Year Balloon 6.000% 6.240%
5 Year Balloon 6.125% 6.280%
7 Year Balloon 6.250% 6.370%
10 Year Balloon 6.375% 6.469%

 

bulletAsk about our special first-time home buyer program
bulletApplication deposit of $375
bulletMinimum loan amount of $20,000
bulletMortgages less than $50,000 available at 0.375% above stated rates
bulletJumbo loans (over $417,000) available at stated rates and fees
bulletLoans on non-owner occupied property are normally limited to 75% of the lesser of the appraised value or purchase price
bulletAll commitments will be binding for 30 days after the date of commitment. Extended commitments are available. Ask for specific information.

+ Rates shown are for single family, owner occupied properties based on a loan to value (LTV) ratio of 80% or less at a loan amount of at least $50,000. (LTV is based on appraised value or purchase price plus improvements, which ever is less.) 80% financing available based on appraised value or purchase price plus improvements, whichever is less. For non-owner occupied property, add 1.0% to the stated interest rate. Private Mortgage Insurance may be required for borrowers with less than a 20% down payment. Call for additional options for higher Loan to Value loans.

* Example Annual Percentage Rates (APRs) based on a typical loan of $100,000 assuming standard loan fees. A $100,000 mortgage with a 30-year fixed rate at 6.625% would have 360 monthly principal/interest payments of $640.31.

(1) Maximum increase or decrease of 5% over the life of the loan and 2% per 3-year term. Rate at each renewal indexed to 3 year Treasury Index plus 2.75%.

(2) Maximum increase or decrease of 2% per adjustment period. Rate at each renewal indexed to 1 year Treasury Index plus
2.75%.

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Home Equity Lines of Credit

Revolving Credit

Loan to Value

Rate*
80% or less Primea + 0.50%

 

bullet15 year term
bullet$5,000 minimum and $100,000 maximum line amounts
bulletSecurity required: 1st or 2nd lien on your personal residence
bulletYou can access your line through special Equity Reserve checks or a Debit card
bulletMonthly statements
bulletMonthly payments can be made one of two ways
bulletAt 1.50% of the outstanding balance ($100 minimum)
bulletInterest-only
bulletMust remain open for a minimum of 3 years
bulletOpening Costs: None (3-year prepayment penalty of loan set up fees – approximately $350)
bulletAnnual fee of $45

* Rates adjusted monthly.

a Prime Rate based on rate as published in the Wall Street Journal.

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Home Equity Loans

Fixed Rate Loan

Term

APR*

10 years 6.625%
7 years 6.125%
5 years 5.625%

 

bulletFixed principle and interest payments
bulletLoan to value (LTV) ratios up to 80%
bulletLTV ratios up to 90% will be accepted for American Savings, FSB mortgage customers
bulletNo fees to open!
bullet3-year pre-payment penalty of loan set up fees (approximately $350)

* Example APRs are based on a typical loan of $50,000. With a 10-year rate at 6.625%, this loan would have 120 monthly principal/interest payments of $570.93.

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Home Improvement Loans

Contact an American Savings lender for a rate quote.

bullet10 year maximum term
bullet$15,000 maximum loan amount
bulletApplication fee of $100
bulletAll home improvement loans are secured by a recorded second mortgage. A verbal title search will be obtained on loans of $2,500 or more and the results of that search will be noted in the loan file. Loans in excess of $7,500 will require a written title search; cost of same to be charged to the borrower.

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Lot Loans

No Fee Rate Locks on Construction Loans!
The current rate you secure for your construction loan transfers to your permanent loan.

Loan to Value Rate*
80% or less Primea + 1.00%
80% - 90% Primea + 1.50%

 

bullet5 year maximum term
bulletMinimum loan amount of $25,000
bulletApplication fee of $175
bulletLoan fee: $500
bullet3rd party fees to be paid by borrower

OR
 
bulletAmortize the loan over 10 or 15 years at a fixed rate
bullet1.00% over stated fixed rates for a loan to value (LTV) ratio of 80% or less
bullet1.50% over stated fixed rates for an LTV of 80% to 90%

a Prime Rate based on rate as published in the Wall Street Journal.

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Vehicle Loans

Here are some example rates. Contact an American Savings lender for a specific rate quote on anything beyond these parameters.

Year Term Rate*
NEW 36 mo. 5.50%
2008 - 2007 48 mo. 6.00%
2008 - 2007 60 mo. 6.25%
2008 - 2007 72 mo. 7.00%
2006 60 mo. 6.25%
2005 60 mo. 6.50%

 

bullet$29 origination fee on purchases;
$100 origination fee on refinances
bulletMinimum loan amount of $2000
bulletThe age of the car (in model years) plus the term of the loan shall not exceed 7 years
bulletThe value of the vehicle is based on the lower value between the sale price and the Red Book value.
bulletLoans on vintage or collectible automobiles are available at negotiated terms.

* A 2008 model year vehicle valued at $25,000 financed over 5 years would earn a rate of 6.250% and result in 60 monthly principal/interest payments of $486.23.

Rates also available for other vehicles such as:

bulletMotorcycles
bulletWave Runners
bulletSnowmobiles
bulletMotor Homes
bulletCampers / Travel Trailers
bulletBoats and Boat Trailers

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To apply for a loan or just speak to someone with
questions on our products, please contact:

Todd C. Williams   -or-   Robert Rossa
.
 


Copyright 2008, American Savings, FSB
Questions or comments,
please contact us.


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