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| Conventional Fixed Rate |
| VA Fixed Rate |
| FHA |
| Jumbo Fixed rate |
| Adjustable Rate Mortgage (ARM) |
Rates last updated on Thursday, April 14, 2011
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Conventional Fixed Rate
A fixed rate mortgage may be what you are looking for if you like the idea of stability. Queensborough National Bank and Trust offers you a lot of options to customize a fixed rate loan for all your needs including interest only.
Maximum Amount: $417,000
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VA Fixed Rate
VA (Veternas Affairs) loans are for active and retired military personnel. They offer 100% financing with low rates. Also, sellers can pay all closings cost and discount points with no limit. To find out if you qualify for a VA loan or for more information on VA Loans contact one of our Loan officers.
Maximum Amount: $417,000
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FHA
FHA (Federal Housing Administration) - insures mortgages with many advantages that help homebuyers quailify for homeownership such as low down payments, liberal qualifying rations and seller paying all closing cost. Also, FHA borrowers do not have to meet minimum income qualifications that many other programs require. Maximum loan amounts, however, are set by regions across the country.
Maximum Amount: $270,050
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Jumbo Fixed rate
Queensborough National Bank and Trust offers jumbo loan programs for the homeowner whose loan amount exceeds the "conforming" loan limits. Highly competitive rates make our jumbo programs attractive. Both Fixed Rates and Adjustable Rates Mortgages are available on Jumbo Loans.
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Adjustable Rate Mortgage (ARM)
Adjustable Rate Mortgages is a loan designed for someone wanting to take advantage of a lower rate for the first part of the loan. It is also popular for people who plan to move or refinance in the foreseeable future. There are a wide variety of adjustable rate loans. For example, a 3/1 ARM is guaranted for the first 3 years and the rate adjusts every 12 months thereafter. Other options include 5/1, 7/1, 10/1 ARM with all based on a 30 year amortization.
Maximum Amount: $417,000
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $7,600. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,001 with closing costs of $7,600. Your actual APR may be different depending upon these factors.
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