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Have heard on the news about a local bank, Banner Bank, offering 30 fixed first mortgages at ... are you sitting down? 3.875%. Wow.
The catch is this rate is only available to customers with good credit, and only on select properties. Namely, properties whose construction has been financed by Banner Bank. The contractors/homebuilders are on the hook at the same bank and the bank doesn't want to own the houses first. So they're doing to get the money and the inventory moving.
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Be Just and Fear Not.
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