BayBank_C_P_HomebuyerBroch11x8.5-PR

The following is an example of the terms for a loan with a The bank built by entrepreneurs, BREAK GROUND FAST
purchase price of $800,000 and a 20% down-payment. for entrepreneurs.
Other adjustable rate mortgage (ARM) programs are baybankmd.com | NMLS #649616 With A Construction/Permanent
available upon request: Loan From Bay Bank Mortgage
ARBUTUS
BALTIMORE Built by Bay
COCKEYSVILLE
Construction Phase COLUMBIA
GLEN BURNIE
Interest Rate 4.000% HICKORY / BEL
AIR
Annual Percentage Rate 4.058% HIGHLANDTOWN
LUTHERVILLE
Loan Amount $640,000 PERRY HALL
PIKESVILLE
Interest Only Payment $2,133.33 (e) TOWSON EAST

7/1 Permanent Mortgage (*) Contact me today for more information.

Interest Rate 3.50% Kyle Becraft
443.463.1872
Annual Percentage Rate 3.823% [email protected]
NMLS #408111
Loan Amount $640,000

Principal & Interest $2,873.89 (e)

(e) indicates estimate
(*) 7/1 LIBOR ARM
This adjustable rate mortgage (ARM) offers interest only payments
during the construction phase based on a 30-year amortization.
During the permanent mortgage phase this ARM offers principal
and interest payments based on a 30-year amortization with a fixed
rate of interest for the first 7 years, and may adjust annually there-
after for the remaining 23 years using a fully indexed rate (index
plus margin) rounded to the nearest 0.125%. For example, during
the first 7 years the initial payment on a 30-year $640,000 loan
is $2,873.89 at 3.50%, with an 80% loan-to-value. One half (1/2)
point due at initial loan closing and a 3.823% Annual Percentage
Rate (APR). After the initial 7 years, the fully indexed rate will
adjust annually, in which case your payment may increase.
Based on a recently published index (7/5/17), the initial fully in-
dexed rate rounded to the nearest 0.125% would be 4.000%
with principal and interest payments of $3,055.46. Disclosed
payments do not include taxes and insurance premiums, so the
actual payment amount may be greater.
e loans originated by Bay Bank Mortgage, a Division of Bay Bank.
Certain restrictions apply and all loans are subject to credit
approval.
v7/17

Start Out On The Right Footing

With our one-time settlement
construction/permanent loan
designed with you in mind.

The Bay Bank Mortgage Construction/ With our construction/permanent loan, you can 12 Month Long-Term Lock
Permanent Loan serves as a construc- finance up to 90% LTV – saving your cash for With Float Down.*
tion loan while your home is being built, other, more important things.
and easily converts to a mortgage when Other Loan Programs Available
construction is done. Our in-house processing, underwriting and at Bay Bank:
You settle only once, saving loads of closing will get you to the settlement table fast.
time and avoiding the expenses – and Not only does this product save you time and • Conventional
headaches – of closing twice. Once money, it also offers you the following benefits: • Jumbo
construction is complete, your loan is • Single settlement with a simple modification • FHA
converted to a permanent mortgage with • VA
minimal paperwork. document that converts the construction • USDA/Rural Housing
When you team up with Bay Bank Mort- financing to a home mortgage loan. • Fixed Rate & ARMs
gage, you can rest assured that we can • Up to 90% LTV option that converts to a 5/1, • First Time Homebuyer Programs
develop a program to build your dream 7/1, 10/1 or 15/1 ARM. • Bank Portfolio Loans
home – while saving you money. • Transfer taxes paid on cost of lot only. • Cash-Out Refinancing
• In-house draws - Bay Bank deals directly with • Grant Programs – Federal, State &
your builder.
• Interest only payments during the construction Local
phase. • Acquisition & Development Loans
• Interest paid on the construction loan may be • Commercial Loans
tax deductible – consult your financial advisor.
• Financing available for primary residence only.

*0.50% fee applies.