For home-purchase loans, first mortgages
Consoritum |
C&S |
Trust Co. |
First Atlanta |
||
Interest rate |
9.25% |
9.50% |
9.50% | 10.00% |
|
Discount points |
none |
none |
none | none |
|
Origination fee |
none |
none |
none | none |
|
Minimum downpayment |
5% |
5% |
5% | 3% |
|
Closing costs |
$1,300* |
$300 |
$1,300* | $300 |
|
Application fee |
$50 |
none |
$50 | none |
|
Loan maximum |
$60,000 |
$60,000 |
$75,000 | $50,000 |
|
Income maximum |
$33,500 |
$35,000 |
none | $30,000 |
|
Targeted areas only |
Yes |
No |
Yes | Yes |
* Represents approximate figures
Source: Atlanta Mortgage Consortium, individual banks
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