Peace of Mind Program

The Peace of Mind Program
Loan program available on Select lots at Lacamas Meadows!

80% LTV @ 3.875% w/1 % loan fee, reserves required

90%-95% LTV @ 4.5% w/1 % loan fee, PMI required, then rate is 4.875% with required, reserves required.
If borrower cannot get PMI, then rate is 4.875% with 1% loan fee and reserves.

100% financing, 4.875% w/1% loan fee, reserves required. No PMI

New:
• Job loss prevention. Coverage lasting years from closing. Covers up to $ 1500/mo for a maximum of 6 Retroactive from date of job loss.

• Homeowner's warranty. Provided by the builder in most cases, but if they don't have a program in place, Banner purchases the warranty. Programs will vary but most will provide 2 years coverage for systems and 10 years coverage on the structure.

This is a Banner Bank mortgage. No prepay, adjustments, no 80/10/10 .... just a straightforward 30 year fixed rate mortgage. We are offering this special financing to help out builders through this tough time or to work a subdivision we took back.

Community Financial Corporation ("CFC") is about 25 of us. We all used to work at Washington Mutual and left in 2000. Our corporate office is out of Lake Oswego and Karen works out of Vancouver as she lives in Battle Ground, WA.

CFC is a subsidiary of Banner Bank out of Walla Walla, WA.

CFC has its own loan processing group, underwriter and closing department. Karen can do telephone mortgage applications with documentation via mail, fax, etc. We try and get the borrower "automated" approved within 48 hrs. This then allows Talbitzer to proceed w/construction as a presold home. Automated approval is subject to completion of home, satisfactory appraisal preliminary title report and final Underwriter approval by Banner.