ALL RATES SUBJECT TO CHANGE WITHOUT NOTICE
Owner-Occupied Single Family Primary Residences
Unless otherwise indicated, all rates based on a purchase money mortgage loan with a minimum down payment of 20%, a minimum indicator credit score of 720, secured by a property located in eastern Massachusetts and the New Hampshire seacoast areas. Please call us for limits and terms for loans secured by properties in other locations within our lending area. Property Insurance is required for all loans. All loans are subject to credit approval. Other terms and conditions apply for properties located in coastal risk zones and/or distressed markets.
| PROGRAM |
POINTS
|
RATE |
APR |
PAYMENT PER $1,0001 |
MINIMUM CREDIT SCORE |
| Affordable Housing & First Time Buyer Program* |
|
|
|
|
|
| 30 Year Fixed |
0 |
5.500%
|
5.525%
|
$5.68 |
720 |
*Purchase Loans Only. Property must be located in eastern Massachusetts and the New Hampshire seacoast areas. Borrowers completing a qualified First Time Home Buyers program before closing will receive a $500.00 credit toward closing costs. Ask us for additional details. APR is based on a $300,000 loan with a 20% down payment. The APR denotes Annual Percentage Rate. All programs subject to change without notice.
1 Unit Cost represents the monthly payment based on a $1,000 loan for the maximum term of the loan at the rate indicated. Principal and interest payment only. This example does not include amounts for taxes and insurance premiums, if applicable. This may increase payment amount.
| PROGRAM |
POINTS
|
RATE |
APR |
PAYMENT PER $1,0001 |
MINIMUM CREDIT SCORE |
Fixed Rate Mortgages
All other Purchase and Refinance Loans |
|
|
|
|
|
| 30 Year Fixed |
2
1
0
|
5.000%
5.250%
5.500%
|
5.229%
5.391%
5.552%
|
$5.37
$5.52
$5.68
|
720
720
720
|
| 20 Year Fixed |
1
0
|
5.250%
5.500% |
5.441%
5.570% |
$6.74
$6.88
|
720
720
|
| 15 Year Fixed |
2
1
0
|
4.250%
4.500%
4.750%
|
4.632%
4.732%
4.832%
|
$7.52
$7.65
$7.78
|
720
720
720
|
| 10 Year Fixed |
1
0
|
4.250%
4.500% |
4.579%
4.615% |
$10.24
$10.36
|
720
720
|
For Loans of $100,000 to $2,000,000 (minimum loan amount for 10 year fixed rate is $150,000) APR is based on a $300,000 purchase or no cash out refinance loan with a maximum Loan to Value (LTV) Ratio of 80%. The APR denotes Annual Percentage Rate.
1 Unit Cost represents the monthly payment based on a $1,000 loan for the maximum term of the loan at the rate indicated. Principal and interest payment only. This example does not include amounts for taxes and insurance premiums, if applicable. This may increase payment amount.
|
LOAN TYPE
|
ANNUAL PERCENTAGE RATE |
MINIMUM
LINE
|
MINIMUM
DRAW*
|
CLOSING
COSTS
|
|
Home Equity Line of Credit
|
|
|
|
|
|
Prime Minus .50%**
|
7.250% |
$50,000 |
$0.00 |
Borrower* |
|
Prime Minus .50%**
|
7.250% |
$10,000 |
$0.00 |
Borrower* |
All rates are subject to change without notice.
Rates change monthly with changes in the Prime rate of interest as published in The Wall Street Journal.
*Reduced closing cost programs available on Home Equity Lines of Credit up to $100,000 and on lines of $25,000 or more (up to a maximum line amount of $100,000) if the closing takes place in conjunction with an Institution for Savings 1st Mortgage closing, otherwise, borrower pays costs. MAXIMUM ANNUAL PERCENTAGE RATE that can apply is 11.00%. Closing costs may range from $0.00 to $1,600. Maximum loan amount of $250,000. No minimum draw required at closing. Fees may be higher for lines in excess of $250,000.00 and/or loans secured by a first mortgage lien. These fees generally total between $400.00 and $2,500.00. Title Insurance is required for all loans in excess of $100,000 and for all other loans with no first mortgage or with a first mortgage from a non-institutional lender. Maximum combined loan to value ratio of 75%, 70% for Condominiums and Townhouses. Property Insurance is required. Other terms and conditions may apply. Important Terms of our Home Equity Line of Credit
**Rate Floor of 3.25
| LOAN TYPE |
INTEREST RATE |
ANNUAL PERCENTAGE RATE |
PAYMENT PER $1,0001 |
ADJUSTED UNIT COST2 |
| Fixed Rate Home Equity Loan |
|
|
|
|
| 5 Year |
5.000% |
5.000% |
$18.87 |
N/A |
| 10 Year |
5.500% |
5.500% |
$10.85 |
N/A |
| 15 Year |
5.999% |
5.999% |
$8.44 |
N/A |
| 20 Year |
6.250% |
6.250% |
$7.31 |
N/A |
All rates are subject to change without notice.
1 Unit Cost represents the monthly payment based on a $1,000 loan for the maximum term of the loan at the rate indicated. Principal and interest payment only. This example does not include amounts for taxes and insurance premiums, if applicable. This may increase payment amount.
2 Payment that may apply during the first adjustment period.
Maximum loan amount of $250,000. Maximum CLTV of 80% for loans secured by an Institution for Savings 1st mortgage on an owner-occupied primary residence (75% for condos and Townhouses.) Max CLTV of 75% for primary residences secured by another lenders first mortgage. Property insurance is required. Other terms and conditions may apply.
Bank NMLS Number: 409410
