Loan Rates from Marion Center Bank (Indiana, PA)

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Loan Rates

We offer a variety of terms and rates to fit any need or budget. Contact a lender today to get our latest loan rates.

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Home Equity Loan Rates

Terms

Rate

APR

Payment Per $1,000

20 Year Fixed 4.49% 4.512%* $6.32
15 Year Fixed 4.24% 4.267%* $7.52
10 Year Fixed 3.99% 4.028%* $10.12
5 Year Fixed 3.74% 3.809%* $18.30

*APR's (Annual Percentage Rate) listed above are for fixed rate Home Equity Loans that meet the following credit qualifications: Rate is available with a minimum credit score of 740 to qualify (other rates available based on credit score), loan-to-value up to 85%, property and flood insurance (if applicable) are required, and property is an owner occupied primary residence. Escrow accounts may be required for payment of property taxes and homeowners insurance for all new loans, and flood insurance if collateral is located in a flood zone. Rate includes a .25% discount for automatic debit of the payment from a MCB deposit account. If automatic payment deduction ever ceases at any point, the APR (Annual Percentage Rate) may increase. In order to receive the offered rate, a minimum of $5,000.00 borrowed is required. If refinancing existing MCB debt, $10,000.00 in new money is required. Home Equity APR is calculated based on a $100,000.00 loan with a $150.00 loan origination fee and $10.00 life of loan flood determination fee. Cost of appraisal, if required, and closing fees are the responsibility of the applicant. Cannot be a purchase money mortgage. All loans are subject to approval, and other terms, conditions, and fees may apply.  Rates are effective as of publication date and subject to change or be withdrawn without notice.

 

Residential Mortgage Loan Rates

Terms

Rate

APR

Payment Per $1,000

20 Year Fixed: Construction 3.24% 3.299%* $5.67
20 Year Fixed: Purchase/Refinance 3.24% 3.271%* $5.67
15 Year Fixed: Construction 2.99% 3.065%* $6.90
15 Year Fixed: Purchase/Refinance 2.99% 3.029%* $6.90
10 Year Fixed: Construction 2.74% 2.847%* $9.54
10 Year Fixed: Purchase/Refinance 2.74% 2.795%* $9.54
5 Year Fixed: Construction 2.49% 2.696%* $17.74
5 Year Fixed: Purchase/Refinance 2.49% 2.595%* $17.74

*Mortgage APR (Construction) is calculated based on a $100,000.00 loan with a $500.00 loan origination fee and $10.00 life of loan flood determination fee. Mortgage APR (Purchase/Refinance) is calculated based on a $100,000.00 loan with a $250.00 loan origination fee and $10.00 life of loan flood determination fee. APR's (Annual Percentage Rate) listed above are for fixed rate Mortgage Loans that meet the following credit qualifications: Rate is available with a minimum credit score of 740 to qualify (other rates available based on credit score), loan-to-value up to 97% (subject to loan parameter qualifications) and property and flood insurance (if applicable) are required, and property is an owner occupied primary residence. Escrow accounts may be required for payment of property taxes, homeowners insurance, PMI (Private Mortgage Insurance, if applicable), and flood insurance if collateral is in a flood zone. Rate includes a .25% discount for automatic debit of the payment from a MCB deposit account. If automatic payment deduction ever ceases at any point, the APR (Annual Percentage Rate) may increase. Loan-to-value over 85% requires Private Mortgage Insurance (PMI). Maximum loan-to-value for Construction Loans is 85%. In order to receive the offered rate, a minimum of $5,000.00 borrowed is required. If refinancing existing MCB debt, $10,000.00 in new money is required. Cost of appraisal and closing fees are the responsibility of the applicant. Title insurance may be required. All loans are subject to approval, and other terms, conditions, and fees may apply. Rates are effective as of publication date and are subject to change or be withdrawn without notice.

 

Home Equity Line of Credit Rate Special

 Term

Rate

APR

Introductory rate for 9 months 0.50% 3.25%*

*0.50% APR (Annual Percentage Rate) introductory rate period will be in effect for 9 months. After the 9 month introductory period, the variable APR will revert to Wall St. Journal Prime with a maximum APR of 16.00%. A $10,000.00 advance must be taken at closing in order to receive the introductory rate. Borrower is limited to a one time only discounted introductory interest rate and closing cost waiver. The bank will waive closing costs for first lien position on a primary residence with $10,000 in new money, with the exception of an appraisal (if required). Refinancing of MCB debt requires $10,000.00 in new money. Lines closed within 36 months of origination date will be subject to a $250.00 early termination fee. A $25.00 annual fee will apply to all lines and charged on the anniversary date of the line. Credit qualifications, maximum 89% loan-to-value, property and flood insurance (if applicable) are required


What documents you will need to to supply to MCB to apply for a Mortgage and Home Equity Loan is listed on our Mortgage and Home Equity Checklist


 

Refer to our Schedule of Account Fees for monthly services fees.

Still unsure which loan solution is right for you?

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