 |
- Purchase Only (No Refi's)
- Beacon Score Of 680 Or Better
- ***90% LTV (10% Must Be Cash Down,
No Subordinate Financing)
|
| Rates |
|
APR |
|
Terms |
| *6.5% |
(7.057%) |
36 Months
Interest Only
25% Origination
$250 Minimum |
| |
| *6.875% |
|
(7.238%) |
|
60 Months
Interest Only
25% Origination
$250 Minimum |
| |
| **7% |
|
(7.290%) |
|
20 Yr.
Am
7 Yr. Balloon
25% Origination
$250 Minimum |
|
| |
| *
Financing Terms Disclosure: 36-Months and 60-Months Interest Only
Program: Fixed rate loan. Note rate for the 36-month program is 6.50%; note rate for the 60-month program is 6.875%. Cost of financing is expressed as the Annual Percent Rate (APR). The APR varies with the actual amount financed. The following APR examples are based upon the lowest and highest lot value in the property: |
| Example
1: Sales Price $31,900 - 10% Down, Interest Only |
| Term |
36
Months |
60 Months |
| Origination Fee |
$250.00 |
$250.00 |
| Amount Financed |
$28,294.00 |
$28,294.00 |
| Monthly Payment |
35 @ $168.72 |
59 @ $178.45 |
| Final Payment |
1
@ $28,868.49 |
1 @ $28,877.64 |
| Annual Percentage Rate (APR) |
7.057% |
7.238% |
| Example
2: Sales Price $104,900 - 10% Down, Interest Only |
| Term |
36
Months |
60 Months |
| Origination Fee |
$250.00 |
$250.00 |
| Amount Financed |
$93,540.06 |
$93,513.87 |
| Monthly Payment |
35 @
$511.39 |
59 @
$540.89 |
| Final Payment |
1
@ $94,921.39 |
1 @
$94,950.89 |
| Annual Percentage Rate (APR) |
6.657% |
6.977% |
|
| |
| **
Financing Terms Disclosure: 20 Year AM 7 Year Balloon Program: Fixed Rate loan. Note rate 7% for 84 months. The following APR examples are based upon the lowest and highest lot value in the property: |
| Example
3: Sales Price $104,900 - 10% Down, Interest Only |
| Sales Price |
$31,900 |
$104,900 |
| Term |
84
Months |
84
Months |
| Origination Fee |
$250.00 |
$250.00 |
| Amount Financed |
$28,294.00 |
$93,505.14 |
| Monthly Payment |
83 @
$222.59 |
83 @
$731.96 |
| Final Payment |
1
@ $22,980.21 |
1 @
$75,568.81 |
| Annual Percentage Rate (APR) |
7.290% |
7.086% |
|
|
|
*** LTV Is Determined On The Lower Of The Appraised Value Or The Purchase Price.
For more information contact Sue Gibbs or Josh Owens at Macon Bank at 828-524-1000.
|
|
|
CLICK
HERE TO VIEW PLATS, PRICES
AND A LISTING OF AVAILABLE LOTS |
CLICK
HERE TO RETURN TO THE
ELKHORN RIDGE HOME PAGE |