Wachovia Mortgage Comparison Chart

Features and Benefits

Fixed Rate Mortgages

Adjustable Rate Mortgages

Jumbo Loans

Community Solutions Programs

Government Loans

Community Lending Programs

Construction Mortgages

Lot Loans

Description

Product Benefit

A stable monthly principal and interest payment if you expect to stay in the home for an extended period. Choose from standard 10, 15, 20, 30, and now 40-year repayment terms.

The most home for the lowest possible initial payment if you plan to move in the short term. Choose from standard 1, 3, 5, 7, and now 10-year initial fixed interest periods with 30-year terms. ³

For mortgages over $417,000

Gives those who work in certain community service related professions an affordable way into a home²

Helps first-time home buyers or military personnel

Great options for those with modest income and limited savings²

Funding during the home-building process

Funding for a home lot that can be used for investment or building

Additional Features

Fixed Rate

Yes

Adjustable Rate

Yes

Use for Purchase

Yes

Use to Refinance

Yes

No Down Payment ¹

Yes

Low Down Payment ¹

Yes

Mortgage loans are originated by Wachovia Mortgage, FSB, and are subject to credit approval, verification and collateral evaluation. Products are not available in all states and are subject to change without notice. A prepayment fee may apply. Certain restrictions apply.

¹ Down payment requirements vary by product and individual circumstances. Please contact us for details.

² Homeownership education courses may be required for these programs. Income limitations may apply. Please contact us for details.

³ For example, on a 5/1 LIBOR Adjustable Rate Mortgage, the interest rate and payment is fixed for the first five years of the loan. The interest rate and payment may adjust every twelve months thereafter and may not increase or decrease more than 2.0% at each twelve-month adjustment. The interest rate cannot increase more than 5% over the term of the loan. A 5/1 LIBOR ARM for $200,000 with a 30-year term and an initial interest rate of 6.622% APR, repayment will consist of 60 monthly payments of $1183. If the interest rate were to increase by the maximum five percentage points to 11.622% APR, then the monthly payment would increase for $1183 to a maximum of $1999 in the fifth year. Other rates and terms are available. The terms used in this example are for illustrative purposes only and the actual terms you receive may be different depending on your individual circumstances.

MORTGAGE COMPARISON CHART