First
Choice America
Loan Calculator
Mortgage Information
If you are interested in purchasing a new home or refinancing, we can help. We have a variety of first mortgage rates and terms available, including both fixed and adjustable rate loans.
Our lending area includes Hancock, Brooke, Ohio, and Marshall Counties in West Virginia, Jefferson, Columbiana, Belmont, and Harrison Counties in Ohio, and Allegheny, Beaver, and Washington Counties in Pennsylvania.
Membership eligibility is required. Please refer to Member Information. For more membership information click on the following link: Membership Info
Single Family/ Owner Occupied
ADJUSTABLE RATE LOANS
| 1 Year ARM | 3 Year Arm | |||
| Rate | 4.875% | 5.375% | 4.875% | 5.375% |
| Term (Points) | 30 Years | 30 Years | 30 Years | 30 Years |
| Points | 1.75 | 0 | 1.75 | 0 |
| Down Payment | 20% | 20% | 20% | 20% |
| Monthly Payment* | $296.36 | $313.59 | $296.36 | $313.59 |
| Annual Percentage Rate* |
5.624% | 5.508% | 5.240% | 5.394% |
| Index | 1Yr. Trea.Sec |
1Yr. Trea.Sec |
3Yr. Trea.Sec |
3Yr. Trea.Sec |
| Margin | 2.75% | 2.75% | 2.75% | 2.75% |
| Per
Adjustment Cap (+ or -) |
2% Maximum |
2% Maximum |
2% Maximum |
2% Maximum |
| Maximum
Lifetime Adjustment Cap |
6% | 6% | 6% | 6% |
* The above monthly payments and APRs are based on a purchase price of $70,000.00, a 20% down payment of $14,000.00, and a loan amount of $56,000.00. The monthly payments shown above are for the first 1 year or 3 year period of the loan. Payment amounts may increase or decrease thereafter. Due to Index fluctuations, the APR may increase after the loan closes. Stated rates are subject to change at any time.
FIXED RATE LOANS
| Rate | 5.250% | 5.750% | 5.500% | 6.000% | 5.625% | 6.125% | 5.750% | 6.250% |
| Term | 10 Years |
10 Years |
15 Years |
15 Years |
20 Years |
20 Years |
30 Years |
30 Years |
| Points | 2 | 0 | 2 | 0 | 2 | 0 | 2 | 0 |
| Down Payment | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% |
| Monthly Payment* | $600.84 | $614.71 | $457.57 | $472.56 | $389.19 | $405.26 | $326.81 | $344.81 |
| Annual Percentage Rate* |
5.740% | 5.796% | 5.846% | 6.033% | 5.900% | 6.151% | 5.957% | 6.270% |
* The above monthly payments and APRs are based on a purchase price of $70,000.00, a 20% down payment of $14,000.00, and a loan amount of $56,000.00. Stated rates are subject to change at any time.
Other Fixed and Adjustable rates, terms and points are available
Up to 95% financing available to qualified borrowers for both fixed and
adjustable rate first mortgage loans. Private mortgage insurance is
required on all first mortgage loans with greater than 80% financing.
Private mortgage insurance premiums will increase the stated APR and monthly
payment amount.
**Add .375 to any above stated rate for loan amounts greater than $417,000.00
Up to 80% financing is available for new home construction at the rates, terms, and points stated above.
Home Equity Line of Credit is Here with a Great Rate!
Need money for Education, Home Repairs, Vacation, Wedding Expenses, Debt Consolidation? It might be time for you to take advantage of a Home Equity Line of Credit from us.
We are now offering an introductory rate of
| 5.39% | APR* Fixed Rate Through March 31, 2009 |
5.50% | APR* Variable Rate Beginning April 1, 2009 |
And you can also save with No Closing Costs, Possible Tax Deductions, Borrow Up to 90% LTV, and Free Checks!
Borrowers can access their credit line by simply writing an advance check!
* Rate effective
February 14, 2008. No closing costs on
approved credit limits of $10,000 or more.
If less than $10,000, closing costs may range between $100 - $400.
If you modify an existing First Choice America Home Equity Line of Credit
loan, you may be charged a loan modification fee, not to exceed $195.
The initial interest rate is 5.39% until April 1, 2009 and
thereafter may adjust on the first of every month to the current prime rate plus .50% as
published in the Wall Street Journal (as of 4-30-08, 5.00% + .50 = 5.50%).
Beginning 4-1-2009, the APR will never be less than 5.39%. Maximum
APR 18%. Minimum credit line $5,000. Maximum term is 20 years.
Annual fee $35. Over
limit fee $25. Property
insurance required. Consult your tax advisor about interest deductibility.
All loans subject to credit approval.
Limited time offer. Federally
insured by NCUA. Equal Housing
Lender.
Contact
our Mortgage/Home Equity Department toll free at
1-800-427-4835 or email
us at Mortgage
Department
Rates
are effective July 14, 2008
Rates Subject to Change Daily
All loans are subject to credit approval.
