Fixed-Rate
Best if you want a low monthly payment.
Terms
30, 20, 15 & 10 YEARS
Benefits
- Interest rate and monthly payment stay the same for the term of the loan.
- By selecting a lower term, you can pay off your mortgage in a shorter amount of time.
5/1 Adjustable
Best if you plan to be in your home less than 5 years.
Terms
Fixed for first 5 years, then adjusts every year thereafter
10/30 Adjustable
Best if you plan to be in your home less than 10 years.
Terms
30 years - Fixed for 10 years. One-time adjustment to current 30-year fixed rate 1
Benefits
- Lower initial rate - 1/2 % below current 30-year fixed rate mortgage product.
First-Time Homebuyers
Best if you are buying a home for the first time.
Terms
10, 15, 20 or 30 years or 10/30 Adjustable Mortgage
Benefits
- No loan origination fee. Appraisal fee refunded at closing.
- Accepts loan request: $400k up to 95% & 450K up to 85% Loan To Value 3 with no PMI 2.
- Down payment may come from a gift.
Homebuyers Dream
Best if you need down payment assistance.
Benefits
- No loan origination fee. Appraisal fee refunded at closing.
- Reduced rate.
- Private Mortgage Insurance Waived.
1 Or a maximum of 3.00% over the initial rate.
2 Private Mortgage Insurance (PMI) waived for loan requests up to 90 LTV%
3 A ratio used to calculate the loan amount requested as a percentage of the value of a home.
4 Must have $10,000 or greater balance on your Piedmont Home Equity Line of Credit to receive Pinnacle Checking with no monthly maintenance fee.
5 Subject to credit approval.
6 This program applies to the permanent financing after the completion of the home. Piedmont Federal does not provide financing for the construction of the home.
