MASS Housing Loan Products*
Effective: July 28, 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 |
APR |
Monthly Payments per $1000 Borrowed |
|
30 Year, 1-4 Units |
1 |
4.500% |
4.627% |
$5.07 |
|
30 Year, 1-4 Units |
0 |
4.750% |
4.791% |
$5.22 |
| 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.
First Time Buyer Program*
Effective: July 28, 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% |
5.142% |
$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