Heber Valley National Bank announces Red Ledges Special Home Site Purchase Term Sheet
- Initial interest rate of 1.90%* for 18 months
- Interest rate after initial 18 months will be Heber Valley National Bank Base Rate of ½% fixed for remaining loan term. Currently 8.00%
- 20 year amortization, 5 year maturity. No prepayment penalty
- For new purchase contracts signed from November 15th, 2007 through January 31st, 2008 25% Down payment
- Loan origination fee: 1 point which will be credited against home construction loan fee at Heber Valley National Bank
- All lot loans are serviced by Heber Valley National Bank
- Full documentation
- HVNB reserves the right to limit the number of loans made on these terms
- *2.598% AP
A $300,000 loan would have an ANNUAL PERCENTAGE RATE OF 2.598% for the first 18 months, based on above fees and terms, and then adjust to an ANNUAL PERCENTAGE RATE equal to Heber Valley National Bank Vase Rate minus ½% (currently 8.00%) for the remaining term.
