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CITIZEN'S BANK OF MUKWONAGO
Current Rates are available on our website, www.citizenbank.com, or by calling our rate hotline at (262) 363-6513.
Fixed Rate Mortgages-Servicing Retained
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Program/Term
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Interest Rate
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APR*
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Monthly Payment per $1,000 Borrowed
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15 Year- Fixed/180 monthly payments
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3.250%
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3.308%
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$7.03
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20 Year- Fixed/240 monthly payments
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3.875%
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3.921%
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$5.99
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30 Year- Fixed/360 monthly payments
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3.875%
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3.908%
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$4.70
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40 year- Fixed/480 monthly payments
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4.750%
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4.787%
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$4.66
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NOTES:
*The Annual Percentage Rate (APR) is based on the following:
$150,000 loan with 0 (zero) points, 20% down and finance charges of $596.50 (or $784.00 for the 40 year loan), for a 1 unit owner-occupied residence. Payments made on the 1st day of each month.
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Your APR will vary based on your loan amount and finance charges.
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The monthly payment includes principal and interest. Your actual monthly payment will be higher if an escrow account is established for taxes, hazard insurance, and mortgage insurance.
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Your fees may vary based on factors such as credit score, loan to value ratio, and the use of subordinate financing.
Low Down Payment Loans:
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Program/Term
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Interest Rate
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APR*
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Monthly Payment per $1,000 Borrowed
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WHEDA – 30 year fixed/360 monthly payments
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4.250%
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4.949%
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$4.92
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USDA – 30 year fixed/360 monthly payments
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4.125%
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4.647%
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$4.85
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NOTES:
*The Annual Percentage Rate (APR) is based on the following:
WHEDA- $150,000 loan with 0 (zero) points, 3% down and finance charges of $2,933.25, which includes PMI. A minimum credit score of 700 is assumed. Payments made on the 1st day of each month.
USDA- $150,000 loan with 0 (zero) points, 0% down and finance charges of $5956.50. Payments made on the 1st day of each month.
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Your APR will vary based on loan amount and finance charges.
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The monthly payment includes principal and interest. Your actual monthly payment will be higher if an escrow account is established for taxes, hazard insurance, and mortgage insurance.
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Both loan programs have borrower and/or property eligibility requirements.
Construction Loans:
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Program/Term
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Initial Interest Rate
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Initial APR##
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Monthly Payment
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1/1 ARM construction, with 360 monthly payments (eligible borrowers may qualify to modify loan to a fixed rate product upon completion of construction)
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3.50%
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2.996%
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12 monthly estimated interest payments, followed by 348 principal and interest payments
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“Worst Case” Example
Remaining
Period Index Margin% Rate% APR% Monthly Payt Principal
1-12mos .18* 2.75 3.500** 3.252** $ 915.66 $195,947.35
13-24mos 2.625 2.75 5.500 5.500 $1,144.27 $192,917.58
25-36mos 4.735 2.75 7.500 7.500 $1,390.43 $190,623.43
37-48mos 6.641 2.75 9.500^ 9.500 $1,650.04 $188,856.55
*actual index as of 08/01/11 **initial interest rate ^6% Lifetime Cap attained
& APR for 1st year
Note: The interest rate will continue to change annually after the 48th payment, but can never be higher than 9.50%.
Information about our 1 Year Adjustable Rate Mortgage (ARM) Construction Loan- The APR, interest rate and principal and interest payment are subject to increase and can change annually, based on market-driven changes to the Index. Above is a worst case example showing the maximum interest rate and monthly payments if a $200,000.00, 1 year ARM with a 12 month interest only period, followed by a 29 year term was originated at an Initial Interest Rate of 3.500%. This example assumes that the Initial Interest Rate increases to the Maximum Interest Rate of 9.50% as rapidly as possible.
NOTES:
There are no escrow accounts on construction loans.
##The Annual Percentage Rate (APR) is based on the following:
A $200,000 loan, with a 12 month “interest only” period, followed by a 29 year amortization period. Down payment of 20%, 0 (zero) points, and finance charges of $1,203.50 for an owner occupied 1 family residence. Interest payments are computed from total amount of draws, and are only estimates.
Construction Loans (continued):
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Program/Term
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Interest Rate
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APR*
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Monthly Payment
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12 month construction
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5.95%
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7.665%
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12 monthly estimated interest payments, followed by a final balloon payment
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NOTES:
There are no escrow accounts on construction loans.
*The Annual Percentage Rate (APR) is based on the following:
A $200,000 loan, with a 12 month “interest only” period, followed by a balloon payment. Down payment of 20%, 0 (zero) points, and finance charges of $1,064.00 for an owner occupied 1-4 family residence. Interest payments are computed from total amount of draws, and are only estimates.
Vacant Lot Loans:
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Program/Term
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Interest Rate
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APR*
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Monthly Payment
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1 Year Fixed Balloon
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4.95%
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5.854%
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12 monthly payments, with a final balloon payment
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3 Year Fixed Balloon
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5.75%
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6.097%
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36 monthly payments, with a final balloon payment
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NOTES:
*The Annual Percentage Rate (APR) is based on the following:
$65,000 loan amortized over 120 months with 0 (zero) points, 30% down and finance charges of $537.00. Maximum amortization available is 240 months.
This information is provided and distributed to assist real estate professionals and is not intended to extend consumer credit as defined by Section 226.24 of Regulation Z. Rates and terms quoted are effective as of the date above and are subject to change at any time without notice.
Citizens Bank of Mukwonago
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