Current First Mortgage Rates are located at the Bottom of Page
Effective: Thursday 08/7/2008 as of 4:00 pm 

Interest Rate Protection Programs
Now available for up to 12 Months!!

Mortgage Interest Rates continue to rise...the solution?
Ram Mortgage Company's, new Long Term Rate Protection.
Extended rate protection offers up to 360 days of Interest rate protection to ensure your peace of mind!
This program is available as a Long Term Rate cap on a Fixed Rate Mortgage.
This program is offered with a 1% deposit, at time of your rate cap, of which 1/2% will be refundable at closing!

Your second option is to complete an Extended rate lock for up to 180 days. On this program there is a deposit required for your extended rate lock protection based on the number days you will need and market conditions. Please contact Jerry Silvi at our main office with any questions. 

Option One
Long Term Rate Cap Program

For 120 days add    .375% to current rate for a capped rate   
For 150 days add    .500% to current rate for a capped rate
For 180 days add    .750% to current rate for a capped rate

For 210 days add    .875%  to current rate for a capped rate

For 270 days add    1.00%  to current rate for a capped rate

For 360 days add    1.25% to current rate for a capped rate

For example:

On a 6.0% Base Rate

120 days would be a capped rate of 6.375%
180 days would be a capped rate of 6.750%
360 Days would be a capped rate of 7.25%

Benefits of our Rate Cap Program

*1/2 % of your deposit is refunded at closing

*You are now protected against any increases in the interest rate market with an opportunity to improve your capped rate prior to the completion of your new home.

*If your interest rate drops you get the best market rate available with no floor.   

As an added benefit, 60 days prior to closing, if our current market rate is below your capped rate you will have a one time option to float down to the current market rate available at that time, with no added fees or charges. As long as your loan closes within the time period of your original rate cap you will be credited or refunded 1/2% of your deposit for this program at closing!

Please note:Not all programs qualify for Long Term Rate Locks or Long Term Rate Caps. Consult your Mortgage Advisor for details.

Option Two
Extended Rate Lock

Ram Mortgage Company Inc. now offers a Rate Lock for either 90, 120, 150 or 180 days at our Current Market Rate for fixed rate mortgages only. This program requires an upfront fee to secure your long term rate lock.

Example of Extended Rate Lock Program:

Current Market rate at 6.00% 

90 day lock, rate at 6.00% charge of .50%(of your loan balance)

120 day lock, rate at 6.00% charge of .625%(of your loan balance)

150 day lock, rate at 6.00% charge of  1.125%(of your loan balance)

180 day lock, rate at 6.00% charge of  1.375%(of your loan balance)   

Benefits of the Extended Rate Lock 

  * Guaranteed todays market rate for the time period you have chosen no matter what happens to current rates.

 *Peace of mind that you know exactly what your final rate will be.

 *You are protected against an increase in interest rates while your new home is being built. 

Other long term rate protections are also available with non- refundable fees.
Certain Restrictions apply. All programs subject to change without notice.
Please contact any RAM Mortgage officer for details.

• Rates change daily. We at RAM Mortgage are committed to providing our clients the most competitive rates and fee's EVERYDAY!  Call your Mortgage Advisor today to discuss "Real Time" Rates.

Disclaimer:
Rates are subject to change without notice.
Availability is based on loan parameters and requirements that must be approved by RAM Mortgage Company, Inc.
Rate Quotes based on a Minimum loan size of $250,000.
Rates are only available to be locked by contacting a RAM MORTGAGE LOAN OFFICER.

For information on our various programs, as well as some helpful mortgage definitions (including the Annual Percentage Rate - APR), please click here.