Loan Rates
 

Rates are effective as of 05/09/08 and are subject to change without prior notice.

Oak Bank Fixed Rate Loans - Secondary Market Rates with a loan amount up to $417,000.00.

Years

 Interest Rate Points APR*
40 6.375%
480 payments of $1153.15		 0 6.391%
30
 		 5.875%
360 payments of $1183.08		 0 5.893%
20
 		 5.750%
240 payments of $1404.17		 0 5.774%
15
 		 5.375%
180 payments of $1620.93		 0 5.411%
10 5.375%
120 payments of $2158.16		 0 5.427%
Rates and/or fees may vary depending upon borrower's credit score, loan-to-value and other factors. Mortgage Insurance may be required on loans with a down payment of less than 20%. This may affect your monthly payment and the loan's Annual Percentage Rate.
*Service Retained:  1-4 Unit Owner Occupied. The above payment terms and Annual Percentage Rate (APR) are based on a $200,000 loan, with a 20% down payment, $12.50 Flood Certification Fee, a $95.00 Underwriting Fee, and a $285.00 Closing Fee to the title company.

 

 

 

Oak Bank Balloon Mortgage Rate
Years  Interest Rate Points APR*
Balloon - 3 year 5.500%
35 payments of $1135.58**		 0 5.589%
Balloon - 7 year 6.125%
83 payments of $1215.22***		 0 6.161%
Rates and/or fees may vary depending upon borrower's credit score, loan-to-value, loan purpose and other factors. Mortgage Insurance may be required on loans with a down payment of less than 20%. This may affect your monthly payment and the loan's Annual Percentage Rate.
*1-4 Unit Owner Occupied. The above payment terms and Annual Percentage Rate (APR) is based on $200,000 loan, a 30 year amortization, a 20% down payment, $12.50 Flood Certification Fee, a $95.00 Underwriting Fee, $75.00 Balloon Endorsement Fee, and a $285.00 Closing Fee to the title company. ** One Final Payment of $192,588.48. ***One Final Payment of $180,891.23.

 

 

 

Oak Bank Lot Loan Rate
Years  Interest Rate Points APR*
Balloon - 1 year 8.10%
11 payments of $673.00**		 0 8.560%
*The above payment terms and Annual Percentage Rate (APR) is based on $70,000 loan amount, a 15 year amortization, a 10% down payment, $12.50 Flood Certification Fee, and a $285.00 Closing Fee to the title company. **One Final Payment $68,099.83.

 

Oak Bank Construction Mortgage Rates  
Years Interest Rate Points APR*
6 Month Construction 5.625%** 0 7.427%
*1-4 Unit Owner Occupied. Payments and Annual Percentage Rate (APR) are calculated using a loan amount of $300,000 for 180 days with 0 points, $12.50 Flood Certification Fee, $155.00 Appraisal Re-certification, $600.00 Draws/Inspections fee, $140 Survey fee, and a $285.00 closing fee to the title company. There would be 5 payments of interest plus one final payment of $300,000 plus interest at maturity.  **Permanent Financing is Required. 

 

Oak Bank Jumbo Mortgage Rates     (Loan amounts greater than $417,000.00)
Years Interest Rate Points APR*

30

 7.250%
360 payments of $3,410.88		 0 7.268%

15

 6.750%
180 payments of $4,424.55		 0 6.779%
Rates and/or fees may vary depending upon borrower's credit score, loan-to-value, loan purpose and other factors. Mortgage Insurance may be required on loans with a down payment of less than 20%. This may affect your monthly payment and the loan's Annual Percentage Rate.
*1-4 Unit Owner Occupied. The above payment terms and Annual Percentage Rate (APR) are based on $500,000 loan, a 20% down payment, $22.50 Flood Certification Fee, a $95.00 Underwriting Fee, a $350.00 Administration Fee, a $50.00 processing fee and a $285.00 Closing Fee to the title company.

 

Oak Bank Home Equity Line of Credit - Variable Rate
Interest Rate/APR* Terms
Rates as low as Prime Minus 0.500%** 1 Year Revolving Line of Credit
*Minimum Payment Example: If you took a single $10,000 advance and the ANNUAL PERCENTAGE RATE was 6.00% , it would take one year to pay off the balance if you made only the minimum payments and the single final payment. During that period, you would make 11 payments varying between $47.54 and $50.82 and one final payment of $10,050.82  (includes interest).  Assumes 80% LTV.  Closing costs of approximately $75.50 will be charged.  Homeowners insurance is required.  Subject to credit approval.
**This is a variable rate loan and your  rate could change monthly. The APR on variable rate lines is determined by adding a margin to an index. Your rate and the corresponding ANNUAL PERCENTAGE RATE (APR) may be higher than the rate stated above and depends on the actual line amount, loan-to-value ratio of your home, your credit history and Oak Bank's credit policies.  As of 05/01/2008 the Prime Rate is 5.00% as published in the Wall Street Journal . The margins range from minus 0.50% to plus 1.75%, resulting in APR's ranging from 4.50% to 6.75%. The APR will never be greater than 18%.

 

Oak Bank Home Equity Line of Credit - Fixed Rate
Loan To Value Interest Rate/APR* Terms
80% or less LTV  4.75%-5.25% 1 Year Revolving Line of Credit
Greater than 80% LTV 5.50%-7.00% 1 Year Revolving Line of Credit
*Minimum Payment Example: If you took a single $10,000 advance and the ANNUAL PERCENTAGE RATE was 6.75% , it would take one years to pay off the balance if you made only the minimum payments and the single final payment. During that period, you would make 11 payments varying between $53.48 and $57.17 and one final payment of $10,057.17 (includes interest).  Assumes 80% LTV.  Closing costs of approximately $75.50 will be charged.  Homeowners insurance is required.  Subject to credit approval.

 

Oak Bank Home Equity Term Loan Rates 
Loan To Value Interest Rate Terms APR*
80% or less LTV 5.75%
35 pymts of $303.17
and 1 pymt of $303.17		 3 year 5.768%
Greater than 80% LTV 6.35%
35 pymts of $305.90
and 1 pymt of $305.90		 3 year 6.370%
80% or less LTV 6.25%
47 pymts of $236.07
and 1 pymt of $236.07		 4 year 6.266%
Greater than 80% LTV 7.05%
47 pymts of $239.78
and 1 pymnt of $239.78		 4 year 7.068%
80% or less LTV 6.95%
59 pymts of $197.85
and 1 pymt of $197.85		 5 year 6.966%
Greater than 80% LTV 7.35%
59 pymts of $199.74
and 1 pymt of $199.74		 5 year 7.365%
*1-4 Unit Owner Occupied. Payments and annual percentage rate (APR) are based on fully amortized loan of $10,000 with an $12.50 Flood Certification fee.

 

Oak Bank Vehicle Loan Rates

Autos

 Maximum Term Fixed Interest Rate APR* Monthly Payment**
2005- Newer 3 years 7.69% 7.715% $31.20
4  years 7.79% 7.810% $24.32
5 years 8.19% 8.208% $20.38
2002-2004 3 years 8.79% 8.818% $31.72
4 years 8.99% 9.013% $24.89
2001 - Older 3 years 9.49% 9.519% $32.04
*Annual percentage rate (APR) based on fully amortized loan of $10,000 with a $4.00 lien filing fee.
**Monthly Payment is based on payment per $1000 for term and rate shown above.

*Annual Percentage Rate

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Madison, WI