EXPANDED LOT LOAN PROGRAM FOR
PEPPER CREEK
Residential
Real Estate Division
312 East Lincoln Highway
Schererville, IN 46375
(219) 933-2255
312 East Lincoln Highway
Schererville, IN 46375
(219) 933-2255
Loan Type and Terms
-
5 year balloon, 30-year amortization
-
Balloon is 5 years with no conditional right to refinance
Loan Amounts
- Minimimum $50,000
- Maximum $225, 000
Lot Size
- Maximum of 5 acres
- Larger Parcels considered on a case by case basis
- Land must be improved
Maximum Loan To Value Ratios (Purchases Only)
85.01% to 90.00% - 6.125% APR*
80.01% to 85.00% -
6.000% APR*
75.01% to 80.00% - 5.875% APR*
75.00% or less - 5.750% APR*
* Annual Percentage
Rate (APR) effective as
of 6/16/004. Rates subject
to change without notice.
For
Additional Information, contact the Mercantile Bank
Residential Real Estate Division at (219) 933-2255.
Loans subject to credit approval. No survey or flood certification required. No procesing fee.
A commitment fee of 0.50% is charged at time of application. Subordinate financing not permitted.
Residential Real Estate Division at (219) 933-2255.
Loans subject to credit approval. No survey or flood certification required. No procesing fee.
A commitment fee of 0.50% is charged at time of application. Subordinate financing not permitted.
