THE VILLAGE BANK

HOME EQUITY LOAN RATE SHEET

JULY 6, 2005

            MINIMUM LOAN                   $  10,000

            MAXIMUM LOAN                  $200,000

            TERM                                      20 Years

            DRAW PERIOD                      First Ten Years

            REPAYMENT                         First Ten Years -           Interest Only

                                                            Second Ten Years -      Ten Years Monthly P & I

            INTEREST RATE                    Credit Score      725 and up        Prime Rate

                                                            Credit Score      700 to 724         Prime Rate + .5%

                                                            Credit Score      699 to 675         Prime Rate + 1%

                                                            Credit Score      674 and less      Prime Rate + 2%

           

Loan to Value not to exceed either 90% of Tax Value or 80% of Appraised Value

            APPRAISAL FEE                    Paid by Bank

            DISBURSEMENT                    Special Check, Telephone, Mail or Personal Request

            CLOSING COSTS                    All Costs To Be Paid By Bank

            MINIMUM ADVANCE           $500.00

            EARLY TERMINATION         $350 If Loan Closes Within Two Years of Opening Date

            INCOME CRITERIA               27% House Payment Ratio & 50% Total Debt Ratio Maximum

If income criteria is not met and/or credit report has adverse information pricing may be adjusted accordingly.

*  Loan rates are based upon automatic payments.

*  Limited to owner occupied property with an 80% or less combined loan to value. Other restrictions may apply.