FINANCING TERMS for LAND & COTTAGES |
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| 10% DOWN PAYMENT | |||
| 9.75% INTEREST – FIXED RATE | |||
| TERMS OF 5 YEARS, 10 YEARS or 15 YEARS | |||
| NO “POINTS” or MORTGAGE APPLICATION FEE | |||
| NO PENALTY FOR EARLY PAYOFF | |||
| CREDIT REPORT FEE OF $20.00 (NON-REFUNDABLE) PER LAST NAME OF BUYER | |||
| “CLOSING COSTS” ARE SOMETIMES $100 OR LESS | |||
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Rate schedule showing the monthly amortizing payment of Principal and Interest (for instance, a $9,000 mortgage would have a monthly payment of $114.01 for 10 years) These amounts are based on a interest rate of 9.75 % |
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| Amount of Loan | 5 years | 10 Years | 15 Years |
| $1000.00 | 21.13 | 13.08 | 10.60 |
| $2000.00 | 42.25 | 26.16 | 21.19 |
| $3000.00 | 63.38 | 39.24 | 31.79 |
| $4000.00 | 84.50 | 52.31 | 42.38 |
| $5000.00 | 105.63 | 65.39 | 52.97 |
| $6000.00 | 126.75 | 788.47 | 63.57 |
| $7000.00 | 147.87 | 91.54 | 74.16 |
| $8000.00 | 169.00 | 104.62 | 84.75 |
| $9000.00 | 190.12 | 117.70 | 95.35 |
| $10,000.00 | 211.25 | 130.78 | 105.94 |
| $11,000.00 | 232.27 | 143.85 | 116.53 |
| $12,000.00 | 253.30 | 156.93 | 127.13 |
| $13,000.00 | 274.62 | 170.01 | 137.72 |
| $14,000.00 | 295.74 | 183.08 | 148.32 |
| $15,000.00 | 316.87 | 196.16 | 158.91 |
| $16,000.00 | 337.99 | 209.24 | 169.50 |
| $17,000.00 | 359.12 | 222.31 | 180.10 |
| $18,000.00 | 380.24 | 235.39 | 190.69 |
| $19,000.00 | 401.37 | 248.47 | 201.28 |
| $20,000.00 | 422.49 | 261.55 | 211.88 |
| $21,000.00 | 443.61 | 274.62 | 222.47 |
| $22,000.00 | 464.74 | 287.70 | 233.06 |
| $23,000.00 | 485.86 | 300.78 | 243.66 |
| $24,000.00 | 506.99 | 313.85 | 254.25 |
| $25,000.00 | 528.11 | 326.93 | 264.85 |
| $26,000.00 | 549.24 | 340.01 | 275.44 |
| $27,000.00 | 570.36 | 353.08 | 286.03 |
| $28,000.00 | 591.48 | 366.16 | 296.63 |
| $29,000.00 | 612.61 | 379.24 | 307.22 |
| $30,000.00 | 633.73 | 392.32 | 317.81 |