Mortgage and Home Equity Loan Rates

Loan Rates effective June 21, 2018

 Mortgages

Fixed Rate Mortgages

Product

Points

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment per $1,000

10 Year Fixed

0 points

10 Years

4.375%

4.907%

$10.30

15 Year Fixed

0 points

15 Years

4.375%

4.745%

$7.59

20 Year Fixed

0 points

20 Years

4.625%

4.920%

$6.39

30 Year Fixed

0 points

30 Years

4.750%

4.968%

$5.22

Adjustable Rate Mortgages (ARM)

Product

Points

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment per $1,000

5/1 ARM

0 points

30 Years

4.625%

5.312%

$5.14

7/1 ARM

0 points

30 Years

4.625%

5.224%

$5.14

10/1 ARM

0 points

30 Years

4.625%

5.114%

$5.14

Conforming loan amounts - maximum loan to value 95%, owner occupied only and loan amounts up to $453,100 for a single family.
All portfolio loans serviced by The Milford National Bank and Trust Company.

Jumbo Mortgage Products

Product

Points

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment per $1,000

30 Year Fixed

0 points

30 Years

4.500%

4.717%

$5.07

20 Year Fixed

0 points 

20 Years 

4.250%

4.543%

$6.19

15 Year Fixed

0 points

15 Years

3.990%

4.359%

$7.39

Minimum loan amount is $453,101 with a maximum of $750,000.

Products available for single family dwellings only.

  • All Annual Percentage Rates (APR) are based on a loan amount of $100,000, owner occupied with a 20% equity in the property and a monthly amortization.
  • Products and rates are subject to change without notice.
  • Your Annual Percentage Rate (APR) will vary based on your final loan amount and finance charges.

Home Equity

Home Equity Line of Credit

Loan Amount

Term

Annual Percentage Rate (APR)

Minimum:    $10,000

Maximum: $250,000

20 Years

(10 year draw followed by 10 year repayment period.)

Floating interest rate of Wall Street Journal Prime Rate minus .50%  for the life of the loan. An early termination fee of $300 will be charged if the line is paid off and closed within the first two years.

  • Rate equals Prime minus 0.50% for the life of the loan. Floor rate is 3.50% with a lifetime cap of 18%.
  • Loan term: 20 years with a 10 year draw period followed by a 10 year repayment period.
  • Maximum loan to value is 80%
  • Standard closing costs to be paid by lender with the exception of property appraisal, additional fees may apply.
  • Early termination fee of $300 if line is paid off and closed within the first 2 years.

 

 

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