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Conventional
Mortgage Loans | First Time Home
Buyers | Construction Loan | This is a traditional mortgage loan for owner occupied one to four family homes, condominiums and townhouses. These are fixed rate loans with terms available for 10 years, 15 years, 20 years and 30 years. Our lending areas are Monmouth County and Ocean County. If you are buying a home, a minimum down payment of 20 % of the purchase price is required. If you already own your home why not consider doing a Refinance mortgage which may lower your rate. We do not sell your mortgage loan; we service it. If you have questions or concerns you can always speak to one of our helpful staff members. There are several ways you can make the payments; at one of our two offices, by mail, by automatic debit each month from your statement savings or checking account with us, or through the INTERNET by transferring funds from your statement savings or checking account with Freehold Savings. We offer a discount interest rate and refundable applications fees for FIRST TIME BUYERS. Please call us at 732-462-6700 for additional information. We offer construction/permanent loans for individual homeowners. Please call one of our mortgage specialists for our current rates and requirements. Fixed rate Home Equity Loans are available for terms from 5 years to 20 years. The loan is secured by a first or second mortgage on the primary residence. The variable rate Home Equity Loan is a line of credit secured by a first or second mortgage on the primary residence. The interest rate can change monthly. This is a loan secured by the balance in your Freehold Savings & Loan savings account. Loans can be secured by a regular savings account or a Certificate of Deposit that has a term of at least 1 year. There is no application or credit check. Interest is calculated on the unpaid balance and billed monthly. You may borrow up to 90% of the savings account balance.
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