Mortgage Loan Rates
FIXED RATE MORTGAGES
Fixed Rate Mortgages - Conforming*
Effective: March 16, 2010
After providing an application, customers can lock-in rates between 9 a.m. and 4 p.m. daily, Monday - Friday, excluding Holidays
|
Program |
Interest Rate |
Points |
APR |
Monthly Payments per $1000 Borrowed |
|
|
|
|
|
|
|
30 Year Fixed |
5.000% |
1 |
5.089% |
$5.37 |
|
|
5.250% |
0 |
5.250% |
$5.52 |
|
|
|
|
|
|
|
20 Year Fixed |
4.750% |
1 |
4.869% |
$6.46 |
|
|
5.000% |
0 |
5.000% |
$6.60 |
|
|
|
|
|
|
|
15 Year Fixed |
4.375% |
1 |
4.525% |
$7.59 |
|
|
4.500% |
0 |
4.500% |
$7.65 |
|
|
|
|
|
|
* Annual Percentage Rate (APR) based on 20% down payment. Due to market fluctuations, interest rates are subject to change at any time and without notice. The rates shown are based on a 40-day lock-in period. The actual interest rate and fees available to you will be based on your credit history and may be different than the rates displayed here. Property Insurance required. Escrow for taxes and hazard insurance may be required with these rates. Loan amounts $100,000-$417,000 for single family. Other terms and conditions may apply. All 2-4 unit properties add 1 point; all condo units with LTV's above 75% add 3/4 point.
MASS Housing Loan Products*
Effective: March 16, 2010
Mass Housing - Mortgage
After providing an application, customers can lock-in rates between 9 a.m. and 3 p.m. daily, Monday - Friday, excluding Holidays
|
Purchase Rates |
Points |
Interest Rate |
APR |
Monthly Payments per |
|
30 Year, 1-4 Units |
1 |
5.250% |
5.340% |
$5.52 |
|
30 Year, 1-4 Units |
0 |
5.375% |
5.375% |
$5.60 |
| Both income limits and mortgage limits apply* |
*Annual Percentage Rates (APR) are based on $200,000 loan with a 20% down payment. Other products and rates available.
Visit www.masshousing.com to view both income limits by location and loan limits by property type.
ADJUSTABLE RATE MORTGAGES
Adjustable Rate Mortgages*
Effective: March 16, 2010
|
Program |
Interest Rate |
Points |
APR |
Monthly Payments per $1000 Borrowed |
|
3/3 ARM |
5.000% |
0.0% |
4.430% |
$5.37 for years 1-3 |
|
5/1 ARM |
5.250% |
0.0% |
3.890% |
$5.52 for years 1-5 |
|
7/1 ARM |
5.500% |
0.0% |
4.277% |
$5.68 for years 1-7 |
*Annual Percentage Rate (APR) based on our best qualified customer putting a 20% down payment. The actual interest rate and fees available to you will be based on your credit history and may be different than the rates displayed here. Due to market fluctuations, interest rates are subject to change at any time and without notice. Rates may increase after consummation. Property Insurance required. Monthly payments based on 30 year term (40 year term also available). Caps are 2% per adjustment 6% lifetime. Maximum loan amount $500,000.
Adjustable Rate Mortgages-Jumbo*
Effective: March 16, 2010
|
Program |
Term |
Interest |
Points |
APR |
Monthly Payments per $1000 Borrowed |
Max LTV |
|
10/1 |
30 Years |
6.000% |
0.0% |
4.973% |
$6.00 for years 1-10 $4.69 for years 11-30 |
80% |
**Annual Percentage Rate (APR) based on our best qualified customer putting a 20% down payment. The actual interest rate and fees available to you will be based on your credit history and may be different than the rates displayed here. Due to market fluctuations, interest rates are subject to change at any time and without notice. Rates may increase after consummation. Property Insurance required. Monthly payments based on 30 year term (40 year term also available). Caps: initial adjustment up to 5%/2% per adjustment /5% lifetime. Maximum loan amount $800,000.
First Time Buyer Program*
Effective: March 16, 2010
Local First Time Homebuyer Program - 30 Year Term*
|
Program |
Term |
Interest |
Points |
APR |
Monthly Payments per |
Max |
|
7/23 ARM* Two Step |
30 Years |
5.000% |
0.00% |
5.510% |
$5.37 for years 1-7 |
97% |
*Annual Percentage Rate (APR) based on our best qualified customer putting 20% down-payment on purchase. The actual interest rate and fees available to you will be based on your credit history and may be different than the rates displayed here. Due to market fluctuations, interest rates are subject to change without notice. Adjusts once after a 7-year fixed period using 10-year Treasury Index and a margin of 2.25%. Cap of 6%. PMI required for loans with less than a 20% down-payment. Rates may increase after consummation. Property insurance required. This program is town specific.
Fixed period ARM disclosure information:
1. APR's are based upon recent index and a 30 year term.
2. Adjusts once after the fixed period.
3. Margin: 2.25
4. Index: Ten Year Treasury
5. Maximum Loan Amount: $500,000.
6. This program is available in the towns of Ayer, Groton, Harvard, Littleton, Lunenburg, Pepperell, Shirley, Townsend, and Westford.
7 Main Street Ayer, MA 01432
Equal Housing Lender Member FDIC, Member DIF