Consumer Loan Rates
|
Product Name
|
Description
|
Maximum Collateral Values
(Loan to Value-LTV)
|
Term
|
APR*
|
Monthly Principal & Interest
per $1000
|
|
Personal Loan - Unsecured
|
Multi-purpose loan
|
N/A
|
48 months
|
13.74%
|
$27.20
|
|
Personal Loan - Secured
|
Secured by tangible personal property (older model cars)
|
NADA "Retail" Value (NADA is an official used car guide)
|
60 months
|
9.25%
|
$20.88
|
|
Overdraft Protection
|
Revolving line of credit linked to a personal non interest bearing Demand Deposit Account (DDA)
|
N/A
|
36 months
(1/36th of principal + interest)
|
18.00%
|
$42.78
|
|
Automobile New 2008
|
Foreign and domestic auto (Personal use only)
|
Retail Value (up to 100% financing is available)
|
Up to 60 months
|
Up to 48 months - 6.25%
49-60 months - 6.50%
|
$23.60
$23.29 to $19.57
|
|
Automobile Used 2004-07
Any Vechicle with more than 5000 miles is considered a used vehicle
|
Foreign and domestic auto (Personal use only)
|
NADA "Retail" Value (NADA is an official used car guide)
|
Up to 60 months
|
Up to 36 months - 6.74%
37 to 48 months - 7.00%
49-60 months - 7.50%
|
$30.75
$30.13 to $23.95$23.76 to $20.04
|
|
Automobile Used 2001-03
Any Vchicle with more than 5000 miles is considered a used vehicle
|
Foreign and domestic auto (Personal use only)
|
NADA "Retail" Value (NADA is an official used car guide)
|
Up to 48 months
|
Up to 36 months - 7.00%
37-48 months - 7.50%
|
$30.88
$30.36 to $24.18
|
|
Home Equity - Variable HELOC
|
Home Equity Multi Purpose Line of Credit
|
Owner Occupied 1-4 Family
75% LTV
Vacation Property Condominnium/Townhouse
1 Family
65% LTV
Rental Property
1-4 Family
55% LTV
Must be zoned Residential (Storefront properties are not acceptable) Homeowners insurance is required. (LTV=total of all liens against the property divided by the appraised value of the property)
|
Revolving
Principal & Interest Option
Payments equals 1/240 of principal plus interest & insurance for the month
or
Interest Only Option
For 10 Years
Then
Payments equals 1/180 of the principal plus interest & Insurance for the month
|
3.99% (Fixed) for 6 months
then
Prime for Life of Line
Maximum APR: 18%
Note:
Minimum payment is $50
Minimum Draw is $200
|
$7.08 (Initial Rate, P&I 1/240)
$7.50 (Regular Rate, P&I 1/240)
$2.91(Interest Only Initial Rate)
$3.33 (Interest Only at current Prime Rate)
$8.891 (Regular Rate, P&I 1/180)
|
|
Home Equity Loan - Fixed
|
Home Equity Multi Purpose fully amortizing loan.
|
Same as above (HELOC)
|
Terms to 240 months
|
Monthly or Bi-Weekly
36-60 months - 5.50%
61- 120 months - 6.00%
121 - 180 months - 6.50%1 81 - 240 months - 6.74%
|
$30.20 to $19.10 $19.06 to $11.10 $11.29 to $8.71 $8.82 to $7.60
|
*APR (Annual Percentage Rate): The APR's shown for Personal Unsecured, Personal Secured, Automobile and Home Equity loans include a .25% discount for having the loan payments autom6atically deducted from a Lakeland checking or statement savings account. The APR will increase if, at any time during the term of the loan, the automatic payment deduction is discontinued.
The Initial Annual Percentage Rate (APR) for the Home Equity Line of Credit is fixed for the first six months of the line. After the initial 6 month discounted period, the APR is variable and equals the Wall Street Journal Prime Rate. The non-discounted APR is 4.00% as of December 01, 2008 .
All loans are subject to credit approval. Rates and terms are accurate as of December 01, 2008 and are subject to change without notice.
Current Mortgage Rates for our Most Popular Products
|
Product
|
Rate
|
Points
|
Annual
Percentage
Rate
|
Maximum
Loan
Amount
|
Principal &
Interest Per
$1,000
|
|
30 Year Fixed Bi-Weekly
|
5.500%
|
0
|
5.502%
|
$650,000.00
|
$2.84 (bi-weekly)
|
|
15 / 30 Balloon
|
5.375%
|
0
|
5.377%
|
$650,000.00
|
$5.60
|
|
5 / 1 ARM Loan*
|
5.500%
|
0
|
4.474%
|
$650,000.00
|
$5.68(Fixed for the first 5 years
then adjusts annually thereafter)
|
|
Construction Loan - 12 Month
|
5.490%
|
0
|
6.547%
|
$1,000,000.00
|
$4.58 (Interest Only)
|
*APR (Annual Percentage Rate): The APR's shown for the 30 Year Biweekly, the 15/30 Balloon and the 5/1 Arm Loan include a .25% discount for having the loan payments automatically deducted from a Lakeland checking or statement savings account. The APR will increase if, at any time during the term of the loan, the automatic payment deduction is discontinued.
Contact a Mortgage Consultant for additional rates on other products and loans for over $650,000.00
*Annual Percentage Rate may be increased after the initial discount period.
Rates vary daily and are accurate as of 12/1/08 and subject to change without notice.
Private Mortgage Insurance is required on all loans with less than 20% down.
|
