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Current Rates - Effective May 9, 2008
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MORTGAGE LOANS
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| FIXED RATES
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| Term |
Interest Rate
|
Points
|
APR |
Monthly Payment per $1,000* |
| 15 years |
5.625% |
0 |
5.719% |
$8.24 |
| 15 years |
5.375% |
1 |
5.623% |
$8.10 |
| 30 years |
6.125% |
0 |
6.183% |
$6.08 |
| 30 years |
5.875% |
1 |
6.026% |
$5.92 |
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| *Based on 20% down payment, owner-occupied - maximum amount $417,000.00
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| FIRST-TIME
HOMEBUYERS |
|
| 5/1 yr. Adjustable Rate Mortgage - NO PMI |
| Term |
Interest Rate
|
Points
|
APR **
|
Monthly Payment
Per $1000
|
| 30 years 15% down payment |
5.250% |
0 |
4.750% |
$5.52
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|
| Index 1.93% Margin 2.50% Caps 1.00% / 2.00% / 5.00% |
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| 5/1 yr. Adjustable Rate Mortgage - with PMI (PMI included in APR and Payment per $1,000 |
| Term |
Interest Rate
|
Points
|
APR **
|
Monthly Payment
Per $1000
|
| 30 years 3% down payment |
5.250% |
0 |
5.118% |
$5.91
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| Index 1.93% Margin 2.50% Caps 1.00% / 2.00% / 5.00% |
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| MassHousing Rates: MassHousing Rates: Eligible buyers include First-Time Buyers, Veterans and repeat buyers in Lynn and other targeted communities. Income and purchase limits apply. Single family homes and condominiums, 2-4 family units – 3% down. MassHousing in addition offers 100% financing under different terms than below for single units. Call Tom Traverse at 781-426-2172 for more details. |
Mass. Advantage 30 yr. fixed |
Term |
Interest Rate |
Points |
APR** |
Monthly Payment
per $1000 |
| 30 |
5.875% |
0 |
5.89% |
$5.92 |
| 30 |
6.00% (1) |
0 |
6.01% |
$6.00 |
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| (1) Incomes below 80% of area median; **Annual Percentage Rate (APR) may be increased during the life of your loan. |
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HOME EQUITY LINE OF CREDIT
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Maximum term 20 years - Minimum amount $10,000.00 - Maximum amount $250,000.00
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We will use the highest Prime Rate published on the first business day of the month in the Wall Street Journal. |
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HOME EQUITY LOANS
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| Maximum Term |
Annual Percentage Rate |
Monthly Payment per $1,000 |
| 60 mos. |
6.50% |
$19.57 |
| 120 mos. |
7.00% |
$11.61 |
| 180 mos. |
7.75% |
$9.41 |
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HOME IMPROVEMENT
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|
Maximum Term
|
Annual Percentage Rate
|
Monthly Payment per $1,000
|
| 60 mos. |
7.50% |
$20.04 |
| 120 mos. |
9.50% |
$12.94 |
| Maximum term is ten years; maximum amount is $25,000
Application Fee is $295.00; loan is secured by lien on property |
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SAVINGS AND INVESTMENT RATES
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| Certificates of Deposit
¹ |
| Term |
Minimum
Deposit to Open |
Interest
Rate |
Annual Percentage
Yield |
Minimum
Daily Balance to Earn APY |
| 18 Mo. CD |
$1,000.00 |
2.77% |
2.80% |
$1,000.00 |
| 2 Yr. CD |
$1,000.00 |
2.81% |
2.85% |
$1,000.00 |
| 3 Yr. CD |
$1,000.00 |
3.20% |
3.25% |
$1,000.00 |
| ¹ Substantial penalty for early withdrawal. |
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| Money Market* |
| Minimum Deposit
to Open |
Interest Rate² |
Annual Percentage Yield |
Minimum
Daily Balance to Earn APY |
| $1000.00 |
2.75% |
2.78% |
$100,000.00 or more |
| $1000.00 |
2.40% |
2.42% |
$50,000.00 to $99,999.99 |
| $1000.00 |
2.00% |
2.01% |
$25,000.00 to $49,999.99 |
| $1000.00 |
1.50% |
1.51% |
$10,000.00 to $24,999.99 |
| $1000.00 |
1.00% |
1.01% |
$1,000 to $9,999.99 |
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| *No interest paid on balances below $1,000. |
| Passbook & Statement
Savings Account |
| Minimum Deposit to Open |
Interest Rate² |
Annual Percentage
Yield |
Minimum
Daily Balance to Earn APY |
| $10.00 |
1.00% |
1.01% |
$10.00 |
| ² Rate may vary. |
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| Also Available: |
Personal and Business Checking Accounts
(fees could reduce earnings), IRAs, SEPs and Other Retirement Accounts |
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