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From: Kevin Draper
To: Sam Brown
Date: April 22
Subject: Home Loan
Dear Mr. Brown,
Thank you for choosing Five star Financial Bank as the provider of your home loan.
We strive to offer you the most competitive repayment plans as well as superb customer support. Below is a summary of the loan you have taken out with us.

 

During the period of your loan, senior banker Martha King will be in charge of your repayment plan. Understanding the terms of your loan is crucial to successfully paying back your loan and avoiding penalties. We advise you to schedule a time to meet with Ms. King so she can help to further familiarize you with your home loan.
If you sign up for our online banking services, you will be able to quickly and conveniently check on your repayment progress.
Thanks again for trusting Five star Financial Bank with your home loan.
Sincerely,
Kevin Draper
Loan Specialist
Five Star Financial Bank

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Listed below are the various home loans available to members of Five Star Financial Bank. Learning about different kinds of loans will help you make an informed decision. Review the loan choices below and decide which loan is right for your situation.
Fixed-Rate Mortgage Loan - This loan ensures that your interest rate and monthly principal repayment remain the same during the entire period of your loan. This loan protects you from rising interest rates and may be a good choice if you plan to live in your home for a long time.
Adjustable-Rate Mortgage Loan - Your interest rate remains fixed for the initial 5 years, and then is adjusted annually. Typically, this loan has a lower initial interest rate than on a fixed- rate mortgage.
Interest-Only Mortgage Loan - During the initial 5 years of the loan, you are required to make payments on interest only. This option is suitable for those with fluctuating incomes. When your finances are tight, you can make the interest-only payment. And when your earnings increase, you can make payments on principal.
Home Opportunity Loan -This special loan is designed for first-time home buyers. You do not need a large down payment and a perfect credit rating in order to qualify for this loan.