House on little neck in ipswich

Residential Loan Rates

Great rates. Personal service. Fast turnaround.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rates Effective
ALL RATES SUBJECT TO CHANGE WITHOUT NOTICE
Owner-Occupied Properties
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 2.875% 3.023% $4.15 720
*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 $165,000 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  Purchase Only Special




30 Year Fixed 0 2.875% 2.917% $4.15 720
For Loans up to $2,000,000. APR is based on a $165,000 loan with a 20% Down Payment. Private Mortgage Insurance (PMI) required on loans with Loan to Value Ratio (LTV) greater than 80%. PMI will increase APR. 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.
 
 
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
2.750%

2.875%

2.990%
2.948%

2.996%

3.032%
$4.08

$4.15

$4.21
720

720

720
20 Year Fixed
0
2.750% 2.809% $5.42 720
15 Year Fixed
2

1

0
2.375%

2.500%

2.625%
2.737%

2.718%

2.701%
$6.61

$6.67

$6.73
720

720

720
10 Year Fixed 0 2.500% 2.588% $9.43 720
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 $165,000 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 Special*




Introductory Rate**
IFS currently holds first Mortgage OR
The Loan closes simultaneously with a new IFS first mortgage
2.990% $25,000 $25,000 Reduced**
All rates are subject to change without notice. Minimum Credit Score of 720 required.
*Owner occupied primary residences only. This is a onetime offer. Borrowers who have received this or a prior Special Introductory Rate on their current residence are not eligible for this rate but may be eligible for a non-introductory rate.
**Introductory rate (2.99%) for the first 24 months. After that, the APR will change monthly, and be based on an index plus a margin. The index is the Prime Lending rate as published in the Wall Street Journal, and the margin is minus .50%, subject to a minimum rate of 3.25% and a maximum APR of 11.00% To qualify for the Introductory APR of (2.99% APR) you must maintain an outstanding balance on your line of credit of $25,000.00 for the first 6 months of the loan. If you fail to maintain this minimum balance your loan will automatically convert to a monthly variable rate, with the index and margin described above. Closing costs associated with this product and the minimum outstanding balance requirement will be waived if you open your account at the same time you close on a first mortgage new home loan, purchase or refinance, with us. Closing costs may range from $0.00 to $1,600. Minimum draw at closing is $25,000. Minimum line amount of $25,000.00. Maximum line amount of $250,000.00. Other terms and conditions may apply. Subject to credit approval. Property insurance required. Flood insurance required if the property is located in a FEMA Special Hazard Flood Zone.
 

 
LOAN TYPE INTEREST RATE ANNUAL PERCENTAGE RATE PAYMENT PER $1,0001 ADJUSTED UNIT COST2
Fixed Rate Home Equity Loan



5 Year 4.500% 4.500% $18.64 N/A
10 Year 5.000% 5.000% $10.61 N/A
15 Year 5.250% 5.250% $8.04 N/A
20 Year 5.750% 5.750% $7.02 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.
No closing cost program available for loans of $50,000 or more provided that the loan is secured by a valid second position behind a Bank, Credit Union or licensed mortgage company. Maximum loan amount of $250,000. Maximum LTV of 80% (75% for condos and Townhouses.) Other terms and conditions
 
   
LOAN TYPE
ANNUAL PERCENTAGE RATE
MINIMUM
LINE
MINIMUM
DRAW*
CLOSING
COSTS
Home Equity Line of Credit




Prime Minus .50%**
3.250% $50,000 $0.00 Borrower*
Prime Minus .50%**
3.250% $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. Title Insurance will increase closing costs by $2.50 per $1,000 borrowed, subject to a minimum charge of $125.00. Maximum combined loan to value ratio of 75%, 70% for Condominiums and Townhouses. Property Insurance is required. Other terms and conditions may apply.  For additional information, ask us for a copy of our “Important Terms of our Home Equity Line of Credit” disclosure.  
**Rate Floor of 3.25

Bank NMLS Number: 409410