Washington Savings Bank -Fixed Rate Mortgages

200 South Banker Street • Effingham, IL 62401 • 217.347.7173
1300 N. Keller Drive • Effingham, IL 62401 • 217.347.7127

RATES EFFECTIVE as of today,
Rates subject to change without notice.

• ALL LOANS SERVICED LOCALLY • OWNER OCCUPIED HOMES •
• PRE-APPROVALS AVAILABLE •

PRODUCT	POINT	RATE	MARKET CONDITION FEE	APR*
15 YEAR RATE**	0	3.750%	.250%	3.790%
20 YEAR RATE***	0	4.250%	.250%	4.282%
30 YEAR RATE****	0	4.250%	.250%	4.273%

*FEES and APRS can vary based on credit history and other loan attributes.

Fixed loan rates subject to change daily.
Must qualify for secondary mortgage market. Jumbo Loans available.

Rate is locked in when title work is complete, appraisal received,
all required documents are received and closing date is set.
Minimum down payment requirement: 10%

If the down payment is les than 20%, mortgage insurance may be needed
which could increase the payment and APR.

Estimated Closing Cost for a Purchase Transaction in Effingham Area are as follows:

•	Appraisal	350.00		Estimate
•	Credit Report	25.50		Estimate
•	Title Work	175.00	+	Estimate	(Title fees on refinances and new construction could vary)
•	Recording Fees	90.00		Estimate	County Recorder for Deed and Mortgage
•	Flood Determination	24.00
•	Documentation Fee	375.00
.	Closing Fee	150.00			Purchases

Loan Application Documentation:

1.		Residential mortgage loan application completed, signed by all applicable parties and dated.
2.		Copies of last 2 years Federal tax returns, signed and dated with last 2 years W2 forms.
3.		Copy of a recent paycheck stub showing current and year to date salary information.
4.		If Self employed last 2 years of signed Federal Income Tax returns and year to date Income Statement and Balance Sheet.
5.		Copies of Statements of IRA, 401K and stock.
6.		Copy of purchase agreement signed by all parties.

Refinances:

•		Name, address, account number, and phone number of current mortgage holder when refinancing.
•		Copy of title insurance policy when refinancing your loan.

Other Important Information:

A.		There are no prepayment penalties on any of our real estate loans.
B.		Escrow accounts for real estate taxes and homeowners insurance are not required for loans that are less than 80% of appraisal or selling price .
C.		payments are due on or before the 1st day of the month
D.		We offer automatic payments to loan accounts from your Statement Savings or Checking account.
E.		Interest is calculated on a 360 day basis on the principal balance.
F.		Closing statements are usually ready the day before closing for inspection by the buyer or seller.
G.		Down payment check needs to be a cashiers check or bank money order for the loan closing.
H.		Appraisals shall remain the property of the Bank and will be solely to determine the fair market value of the property for loan underwriting purposes. Copies of appraisals will be given to customers if the indemnification agreement is signed by the borrower.
I.		Homeowners Insurance binder or policy must be provided to the bank by time of loan closing.

•••The above rate assumes a 20% down payment on a loan amount of $100,000 with a 15 year term. The principal & interest payments per month for 180 months for this example would be $727.22 (escrow for insurance and taxes are not included & will/may increase the payment accordingly).

***The above rate assumes a 20% down payment on a loan amount of $100,000 with a 20 year term. The principal & interest payments per month for 240 months for this example would be $619.23 (escrow for insurance and taxes are not included & will/may increase the payment accordingly).

****The above rate assumes a 20% down payment on a loan amount of $100,000 with a 30 year term. The principal & interest payments per month for 360 months for this example would be $491.94 (escrow for insurance and taxes are not included & will/may increase the payment accordingly).

Points – Finance charges paid to the lender as part of the closing costs. Each point equals 1 percent of your total mortgage loan.

APR – Annual Percentage Rate
*Contact Jim Rutledge or Randy Jones if you have any questions on our home loans or any of our other services.

Note: This information is a brief description of loans available for single family residences. It does not fulfill all of the Truth In Lending requirements.

Mortgage Credit Application

Mortgage Credit Application (interactive pdf version)

First Time Homebuyer Program Available.

Call for details and appointment.

Primary Lending Area, Effingham and Surrounding Counties.

All Loans Serviced Locally. Decisions, Inquiries and Payments made here.

Loan applications available to print from this web site.

Customer eWarning

WASHINGTON SAVINGS BANK will NEVER request any confidential information from a customer such as account number, social security number, PINs or passwords by email or phone call. Never give out confidential information unless you have originated a voice or in-person conversation and we are requesting this for identification reasons.

Never give your PIN or password to anyone, including WASHINGTON SAVINGS BANK Staff. Emails from legitimate sources such as a bank or the FDIC can be faked!

When entering our ebranch (website), only enter directly at www.washingtonsavings.net in your browser. Never allow another website (such as a search engine or other website or bookmark) to transfer you to our website. Websites can be faked if not entered directly!

Effingham Home Builders Association Ranked as Bauer Financial's Superior Bank 5 Star Award.