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Loan Rates
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Rates are effective as of 05/09/08 and are
subject to change without prior notice.
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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.
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| 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%.
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| 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
Deposit Rates
Rates are effective
05/05/2008 and are
subject to change without prior notice.
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Personal
Checking
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Account
|
Minimum
Balance*/Tier
(To avoid service fees and earn stated rates.) |
Interest
Rate |
Annual
Percentage Yield |
Compounding |
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Oak Premier Checking
|
$0.00-2,499.99 |
0.00% |
0.00% |
Monthly |
| $2,500.00-24,999.99 |
0.20% |
0..20% |
Monthly |
| $25,000.00-49,999.99 |
0..40% |
0..40% |
Monthly |
| $50,000+ |
0.75% |
0.75% |
Monthly |
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Personal
Checking
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Account
|
Minimum
Balance*/Tier
(To avoid service fees and earn stated rates.) |
Interest
Rate |
Annual
Percentage Yield |
Compounding |
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Oak Money Market
|
$0.00-2,499.99 |
0.00% |
0.00% |
Monthly |
| $2,500.00-24,999.99 |
0.70% |
0.70% |
Monthly |
| $25,000.00-49,999.99 |
1.69% |
1.70% |
Monthly |
| $50,000.00-89,999.99 |
1.88% |
1.90% |
Monthly |
| $90,000.00+ |
1.88% |
1.90% |
Monthly |
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Personal Savings
HSA Funds can be invested in the Oak Personal Savings
Account.
|
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Account
|
Minimum
Balance*
(To avoid service fees and earn stated rates.) |
Interest
Rate |
Annual
Percentage Yield |
Compounding |
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Oak Savings
|
$0.00-2,499.99 |
0.15% |
0.15% |
Monthly |
| $2,500.00-24,999.99 |
0.90% |
0.90% |
Monthly |
| $25,000.00-49,999.99 |
1.74% |
1.75% |
Monthly |
| $50,000.00-89,999.99 |
1.98% |
2.00% |
Monthly |
| $90,000.00+ |
1.98% |
2.00% |
Monthly |
Certificates of Deposit (Business & Personal) Customized terms can be determined to fit your individual needs.
Please call 441-6000 for a rate quote and other details. IRA Funds
can be invested in any CD or the Oak Savings Account.
(Early withdrawal penalties apply to CDs.)
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Business Banking
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Account
|
Minimum
Balance*
(To avoid service fees and earn stated
rates.) |
Interest
Rate |
Annual
Percentage Yield |
Compounding |
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Business Money Market
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Same as Oak Money Market (see above). |
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Business Interest Checking
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No Minimum Balance |
1.04% |
1.05% |
Monthly |
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Total Business Checking (Earnings Credit)
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No Minimum Balance |
1.26% |
N/A |
Monthly |
*Average Daily Balance/Tier needed to avoid service fees and
earn stated rates.
Fees, rates, minimum balances and accounts subject to change. Fees could reduce earnings. Early withdrawal penalties apply to
Certificates of Deposit.
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