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Recent News

PIDA Rate Remain the Same for the 4th Quarter of 2021, Valid thru December 31, 2021

For Real estate loans financing eligible land and building costs, borrowers will have the following interest rate options:  For term loans with a regular amortization;Fixed interest rate for the full term of the loan (up to a 15-yr. period), set at the current 10-year treasury yield + 100 basis points.  Based on the current 10-year treasury yield, the fixed rate option is 2.5% for the life of the loan.Fixed interest rate for a seven (7) year period set at the 10-year treasury yield.  After seven years, the rate will reset to the then-current 10-year treasury yield.  Please note, the reset rate is limited to a 200 basis point increase/decrease.  The reset rate is then fixed for the duration of the loan.  Based o...

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