20% Down Payment * 80% LTV Program
For example, financing $150,000 for 180 months with 0-points at an interest rate of
5.500% with an APR of 5.567% would result in a monthly payment of $1,225.63 for principal and interest.
For example, financing $150,000 for 360 months with 0-points at an interest rate of
5.875% with an APR of 5.915% would result in a monthly payment of $887.31 for principal and interest.
5% Down Payment * 95% LTV Program
For example, financing $150,000 for 180 months with 0-points at an interest rate of
5.500% with an APR of 5.896% would result in a monthly payment of $1,225.63 for principal and interest. Monthly private mortgage insurance (PMI) is required due to an assumption of an LTV of 95% for this loan example, which will increase the stated monthly payment $77.50
for the first 46 payments.
For example, financing $150,000 for 360 months with 0-points at an interest rate of
5.875% with an APR of 6.382% would result in a monthly payment of $887.31 for principal and interest. Monthly private mortgage insurance (PMI) is required due to an assumption of an LTV of 95% for this loan example, which will increase the stated monthly payment $81.00
for the first 120 and $25.00 for the next 7 payments.
The above are only examples. GCF will be happy to provide you with specific information on your transaction upon your request.
Please contact GCF for information on loan amounts in excess of $417,000.
The APR, interest rate and principal and interest payment are subject to increase and will change after the loan is closed due to market-driven changes to the index. Your initial interest rate may not be based on the index used to make later adjustments. If your initial rate is discounted, your interest rate on the first change date may increase even if the index remains the same. Please refer to the following examples of a 30 year ARM loan with a $150,000 loan amount (assuming a 20% down payment).
3 year ARM at an initial rate of 6.250%, the APR is 4.871%, subject to increase. Your payment schedule would be
36 payments of $923.58; 323 payments of $760.19; and 1 payment of $757.17.
5 year ARM at an initial rate of 6.500%, the APR is 5.390%, subject to increase. Your payment schedule would be
60 payments of $948.10; 299 payments of $790.48 and 1 payment of $788.82.
For example, financing $150,000 for 360 months with 0-points at an interest rate of
5.625% with an APR of 6.127% would result in 360 monthly payments of $863.48 for principal and interest. Monthly private mortgage insurance (PMI) is required for this loan example due to an assumption of an LTV greater than 80%, which will increase your monthly payment $81.25
for the first 120 payments and $25.00 for the next 4 payments. This is only an example. GCF will be happy to provide you with specific information on your transaction upon your request.
There will be a recording fee associated with this product. This fee may range from $36.00 to $126.50 based on county and state where the property is located. New Jersey and Pennsylvania residents closing outside of a GCF branch office will be charged a closing fee of $150.00. Delaware is an attorney state, therefore, closing must be conducted by an attorney with a closing fee of $350.00.
If you close your loan within 12 months of the date upon which it is opened, you
will be required to pay an early account closure fee of $250.00.
For example, financing $150,000 for a term of 180 months at an APR of 6.375% would result in 179 monthly payments of $1,295.56 and one payment of
1,294.41.
For example, financing $150,000 for a term of 360 months at an APR of 6.875% would result in 359 monthly payments of $984.90 and one payment of $982.45.
HOME
EQUITY LINE OF CREDIT
Term
LTV%
Points
Rate
APR%
Min Loan
Max Loan
15 Year
90
0
Prime - .75%
4.50
$5,000
$350,000
There will be a recording fee associated with this product. This fee may range from $36.00 to $126.50 based on county and state where the property is located. New Jersey and Pennsylvania residents closing outside of a GCF branch office will be charged a closing fee of $150.00. Delaware is an attorney state, therefore, closing must be conducted by an attorney with a closing fee of $350.00. Property insurance is required. If the collateral is located in a designated flood hazard area, flood insurance will also be required. If you close your line of credit within 12 months of the date upon which it is opened, you will be required to pay an early account closure fee of $250.00.
Your monthly payment is 1/180th of the outstanding principal as of the last day of the billing cycle plus accrued interest.
Variable rate based on prime as published in the Wall Street Journal may increase after loan consummation.
For example, financing $150,000 for 360 months with 0-points at an interest rate
of 6.375% with an APR of 6.417% would result in a monthly payment of $935,80 for
principal and interest.
INVESTMENT HOME EQUITY LOAN
Term
LTV%
Points
Rate
APR%
1 - 5 Years
70
0
7.125
7.125
6 - 10 Years
70
0
7.750
7.750
11 - 15 Years
70
0
8.000
8.000
For example, financing $150,000 for a term of 120 months at an APR of
7.750% would result in 119 monthly payments of $1,798.59 and one of 1,798.13. If you close your loan within 12 months of the date upon which it is opened, you will be required to pay an early account closure fee of $250.00.
