Loan Products and Rates

AFM Secondary Market Products with 30-day Rate Lock pricing

 As of: 02/22/2010 

Blue text indicates current recommended products

Product Payment Options Prepayment Options Term Amortization

Standard Rate

Platinum Rate
1 Month ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 3.12% 2.92%
1 Year  ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 3.53% 3.33%
3 Year ARM Mo, SA Open - pmt date 15 years 15 or 25 years 4.80% 4.60%
5 Year ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 5.55% 5.35%
3/1 ARM Mo, S/A Open - Pmt date 15 years 15 or 25 years 5.02% 4.82%
5/1 ARM Mo, S/A Open - Pmt date 15 years 15 or 25 years 6.12% 5.92%
7/1 ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 6.87% 6.67%
10/1 ARM Mo, S/A Open - pmt date 15 years 15 or 25 years 6.94% 6.74%
10 Year VRM Mo, S/A Open - pmt date 15 or 20 years 15/20 years 7.15% 6.95%
10 Year VRM Mo, S/A Open - pmt date 25 or 30 years 25/30 years 7.33% 7.13%
10-Yr Fixed Mo, S/A Open - pmt date 10 years 10 years 6.70% 6.50%
15-Yr Fixed Mo, S/A Open - pmt date 15 years 15 years 7.04% 6.84%
15/25 15Yr Fixed Mo, S/A Open - pmt date 15 years 25 years 7.52% 7.32%
15/25 15Yr Fixed Mo, S/A Yield Maintenance 15 years 25 years 7.33% 7.13%

Secondary Market product notes:

Fast Track (Farmer Mac) applications from $200,000 - $750,000 in size, with 50% Maximum Loan to Value and credit score of 700 or better, net worth on pro forma Financial Statement must exceed total debt by 12%.  Standard Farmer Mac applications from $300,000 - $1,500,000 with full documentation underwriting.  The above rates are for typical size and risk loans. 

Integrated Poultry products are indicated underlined in green type; if construction funding is required additional restrictions and/or disclosures regarding the application process and/or the funding mechanism/restrictions are available.

All Platinum products require a minimum loan size of $750,000 and other underwriting requirements. 

3/1, 5/1, 7/1 &  10/1 ARM products, the Rate is FIXED for the first 3, 5, 7, or 10 years and then adjusted annually thereafter, mid score of 680 required.     Semi-Annual (S/A) payments are due Jan 01, and July 01.  Open prepayment on any payment date for ARM products, payment of interest to next payment date is required. 

SPLIT LOANS

NOTE:  we now offer split loans (two notes with different products -- both notes secured by the same mortgage).  This flexibility allows you to FIX your rate on a portion of the total mortgage (insulating against probable future interest rate increases), and at the same time to take advantage of lower rates found on the shorter term adjustable rate products (with open prepayment).