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Pamela Gholston

Pamela Gholston

Mortgage Loan Officer and Community Outreach Officer

NMLS ID#555799
Office Phone: 414-978-0285

Old National Bank

7401 W Greenfield Ave
West Allis, WI

About Pamela

With a combined 25 years of experience in the lending industry as a Housing Counselor and a Loan Officer, Pam understands that purchasing a home is one of the biggest financial decisions that you will make in your life.
Community partnerships with homebuyer counseling agencies throughout the City of Milwaukee helps Pam share her knowledge about the loan application process with potential homebuyers.
Pam is very knowledgeable and specializes in down payment and closing cost assistance programs that help clients achieve their goal of homeownership. Her greatest joy is to see her clients, at the time of closing, walk out of Old National Bank with keys to their new home and a smile on their face.

Current Mortgage Rates

Conventional
Term Rate APR
30 Year Fixed 4.875% 5.263%
15 Year Fixed 4.375% 4.586%
The above rate is based off of the following assumptions for your Conventional Loan:
  • Credit score 740 or higher
  • LTV 95% (5% down payment)
  • Loan amount of $230,000
  • $800 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 11/20/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

Construction
Term Rate APR
Construction 30yr 4.625% 4.665%
Construction 15yr 4.125% 4.195%
The above rate is based off of the following assumptions for your Construction Loan:
  • Credit score 700 or higher
  • LTV 80% (20% down payment)
  • Loan amount up to $1,000,000
  • $1,000 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 11/20/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

Jumbo
Term Rate APR
Jumbo 30 Year 4.500% 4.507%
2.25The above rate is based off of the following assumptions for your Jumbo Loan:
  • Credit score 740 or higher
  • LTV 80% (20% down payment)
  • Loan amount $453,101 to $1,000,000
  • $800 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 11/20/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

ARM
Term Rate APR
5/1 ARM 4.125% 4.794%
The above rate is based off of the following assumptions for your Conventional ARM Loan:
  • Credit score 740 or higher
  • LTV 95% (5% down payment)
  • Loan amount up to $453,100
  • $800 origination fee, $6.70 flood certification fee and $72 tax service fee. Additional closing costs apply

Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 11/20/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

On a $230,000, 5-1 ARM amortized over 20 years with an initial interest rate of 4.625% with an annual percentage rate of 4.451%, after fixed-period of 5 years the rate may increase annually; individual adjustments are capped at 2% first, 2% subsequent and rate can never increase by more than the lifetime cap of 5%. A payment example would be as follows based on a fully-capped interest rate of the loan: Years 1-5 at 4.625% rate with a payment of $511.53, Year 6 at 6.625% rate with a payment of $582, Year 7 at 8.625% rate with a payment of $654 and Years 8-20 at 9.625% rate with a payment of $689. The monthly payment may change when the interest rate on an adjustable rate mortgage is reset. After the initial fixed-rate period, your interest rate can increase annually according to the market index. Current index (LIBOR 12 month) as of October 25, 2017 is 1.835%. The current index plus Margin rounded to the nearest 0.125 is 4.125%. Any change may significantly impact your monthly payment.


FHA
Term Rate APR
FHA 30 Year 4.875% 6.069%
The above rate is based off of the following assumptions for your FHA Loan:
  • Credit score 640 or higher
  • LTV 96.5% (3.5% down payment)
  • Loan amount of $170,000
  • $800 origination fee and $6.70 flood certification fee. Additional closing costs apply
Please note that if your credit score, down-payment or loan amount is different than the above assumptions, your rate could be higher or lower. Subject to credit approval. Rates, terms and conditions effective 11/20/18 are for sample purposes only and subject to change. Please contact your Mortgage Loan Officer for specific, customized pricing for your financial situation.

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