Home Loans | Bank of Ruston

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Mortgage Lending Rate Sheet
Effective APR 15, 2008.
Bank of Ruston offers many types of real estate loans for owner occupied residences, vacation homes, and investment properties in Louisiana. Types of mortgages include loans for purchase or refinancing; fixed or adjustable rates; conforming (up to $417,000) and jumbo (up to $500,000) loans; and balloon reset loans.

The rates quoted here are indications only and all rates are subject to change without notice. We update this rate information weekly. Rates are quoted for a single family, primary residence properties only. All Annual Percentage Rates are based on a loan amount of $100,000 for conforming loan amounts, assuming 20% down and no private mortgage insurance. Contact us for rates and points on 2-4 unit properties, vacation homes, jumbo loans, and investment properties at (318) 255-3733, or send e-mail to: wlpost@bankruston.com

ITEMS TO BRING FOR APPLICATION:

Most recent pay stubs showing year-to-date earnings.
Last two years W-2 statements.
Most recent bank statements.
Fully executed sales contract if applicable.

» Download the Uniform Residential Loan Application

Mortgage Calculator* You will be leaving the Bank of Ruston web site. We make no representations and accept no responsibility with regard to content or calculations produced by the Federal Reserve Board web site.

» Conforming Fixed Rate

» FHA/VA

Type of Mortgage
	Conforming Fixed Rate Mortgage $30,000 to $417,000
		Years	Rate	Points	APR
		30 Year
		15 Year


	95% maximum LTV with Private Mortgage Insurance (PMI). 80% maximum LTV without PMI.
	You may buy down the rate by paying additional discount points. Fixed Rate Mortgages are fully amortizing loans. The rate will be fixed for the full term of the loan and your monthly principal and interest payments will be level for the term of the loan. The loans are not assumable and there is no prepayment penalty if the loan is paid off before maturity. Annual Percentage Rate is based on a $100,000.00 loan.

	FHA/VA Maximum Base Loan $271,050.00
		Years	Rate	Points	APR
		30 Year
		15 Year
	Mortgage insurance required on all FHA Loans. Up front MIP or funding fees required.
	You may buy down the rate by paying additional discount points. Fixed Rate Mortgages are fully amortizing loans. The rate will be fixed for the full term of the loan and your monthly principal and interest payments will be level for the term of the loan. The loans are assumable to qualified persons and there is no prepayment penalty if the loan is paid off before maturity, as long as the payoff occurs on a due date. Annual Percentage Rate is based on maximum financing loan with a base amount of $271,050.00. Rates are subject to change without notice.