GSB Mortgage Loan Rate Sheet - Current Rates

(last change 09/05/2008)

Rates are subject to change without notice. GSB makes every attempt to keep posted rates current. Rates shown are typical for a maximum 80% loan to value (LTV) purchase or straight (no additional cash out) refinance for borrowers with clean credit histories and a current GSB checking account.
Risk premiums for factors such as higher LTV, lower credit scores or cash-out requests may increase the actual rate. $1,500 loan fee applies to non-GSB checking account customers. Actual rates cannot be quoted until qualification is verified and rates are "locked".
Except for 15 year, 20 year and 30 year Fixed products rates quoted are “90 day rates” and once locked, closing must occur within that time period. 15 year, 20 year and 30 year rates are locked for 60 days.

Conventional Mortgage Loans (Amounts to $417,000)

Mortgage Loan Product	Interest Rate	Points	Annual Percentage Rate	Payment per $10,000
10 Year Fixed	5.375%	None	5.469%	$107.91
15 Year Fixed	5.875%	None	5.945%	$83.71
20 Year Fixed	6.375%	None	6.434%	$73.82
30 Year Fixed	6.500%	None	6.546%	$63.21

Adjustable Rate Mortgage (ARM) Loan Products	Initial Interest Rate	Rate Margin	Rate Caps Initial/ Periodic/Lifetime	Annual Percentage Rate	Payment per $10,000*
3/1 Year ARM	5.125%	2.750%	2%/2%/6%	4.876%	$54.45
5/1 Year ARM	5.500%	2.750%	2%/2%/5%	5.070%	$56.78
7/1 Year ARM	5.875%	2.750%	5%/2%/5%	5.352%	$59.15

* Payment example based on 30 year amortization

Jumbo Mortgage Loans (Amounts from $417,001 to $750,000)

Mortgage Loan Product	Interest Rate	Points	Annual Percentage Rate	Payment per $10,000
10 Year Fixed	5.625%	None	5.687%	$109.15
15 Year Fixed	6.125%	None	6.172%	$85.06

Adjustable Rate Mortgage (ARM) Loan Products	Initial Interest Rate	Rate Margin	Rate Caps Initial/ Periodic/Lifetime	Annual Percentage Rate	Payment per $10,000*
3/1 Year ARM	5.375%	3.000%	2%/2%/6%	5.210%	$56.00
5/1 Year ARM	5.750%	3.000%	2%/2%/5%	5.389%	$58.36
7/1 Year ARM	6.125%	3.000%	5%/2%/5%	5.657%	$60.76

* Payment example based on 30 year amortization

Super Jumbo Mortgage Loans (Amounts in excess of $750,000)

Mortgage Loan Product	Interest Rate	Points	Annual Percentage Rate	Payment per $10,000
10 Year Fixed	5.875%	None	5.934%	$110.39
15 Year Fixed	6.375%	None	6.421%	$86.42

Adjustable Rate Mortgage (ARM) Loan Products	Initial Interest Rate	Rate Margin	Rate Caps Initial/ Periodic/Lifetime	Annual Percentage Rate	Payment per $10,000*
3/1 Year ARM	5.625%	3.250%	2%/2%/6%	5.269%	$57.56
5/1 Year ARM	6.000%	3.250%	2%/2%/5%	5.484%	$59.96
7/1 Year ARM	6.375%	3.250%	5%/2%/5%	5.785%	$62.39

* Payment example based on 30 year amortization

Lending Requirements

1-4 Family Owner Occupied Residences. (Non-owner occupied loans available; please inquire about rates.)
Annual Percentage Rates based on maximum 80% Loan-to-Value (20% down payment). Loan amounts over $750,000 limited to 70% LTV. Loan amounts over $1,000,000 limited to 60% LTV. Higher LTV loans available, please inquire about details.
Annual Percentage Rate is based on our usual closing costs for Glenview State Bank deposit customers and assumes a loan amount of $100,000 for conventional mortgages, a loan amount of $417,000 for jumbo mortgages and a loan amount of $750,000 for super jumbo mortgages; and also assumes that the loan is funded on the 15th day of a month.
Mortgage payments are based on a monthly repayment schedule.
Appraised home value, applicant’s indebtedness and credit history are the primary factors considered in determining final approval and terms.
Property insurance is required.
Tax escrow required for LTV's over 80% for Conventional loans and over 75% for Jumbo loans.

Note: All ARM products are fixed at the quoted rate for the initial period. After the initial fixed rate period, the loan rate will be adjusted by adding the Rate Margin to the “Index Rate” , but the rate will not increase more than the quoted Rate Caps. The Index Rate is the 1 Year Constant Maturity Treasury rate (CMT) as published by the Federal Reserve Bank (www.federalreserve.gov/releases/h15/update), currently 2.04%