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Personal Overview > Loans > Mortgages > Fixed Rate Mortgage
Summary
- Down payment may be a low as 5% (Private Mortgage Insurance may be required).
- Keeps payments constant by retaining the same interest rate over the life of the loan.
- Costs include a low application fee (non-refundable) plus closing costs which may include points. Reserves for taxes and insurance may be required.
- Must meet Lorain National Bank’s underwriting guidelines.
- Enjoy the convenience of having your home loan payment automatically deducted from your Lorain National Bank checking account.
- Our Loan Officers can meet with you—at your home or office—to discuss your loan application.
Current Interest Rates
| Fixed Rate Options |
|
Term
|
Rate
|
Annual Percentage Rate
|
Points
|
15 years |
5.375 |
5.541 |
0 |
20 years |
5.750 |
5.884 |
0 |
30 years |
5.875 |
5.976 |
0 |
30 years |
5.625 |
5.956 |
1.625 |
30 years |
5.500 |
5.802 |
2.125 |
Note: 1-4 family owner occupied. APR is calculated using
a $175,000 mortgage. Not every customer will
qualify for this rate. See a
Loan Officer for details. All rates subject to credit approval and accurate as of May 1, 2008. Base rates for customers with a credit score of 680 or higher. Other rates & plans available.
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George Marolla 
