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Current Rates - Effective July 3, 2009
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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 |
4.875% |
0 |
4.973% |
$7.84 |
| 15 years |
4.625% |
1 |
4.874% |
$7.71 |
| 30 years |
5.500% |
0 |
5.559% |
$5.68 |
| 30 years |
5.250% |
1 |
5.398% |
$5.52 |
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| *Based on 20% down payment, owner-occupied - maximum amount $417,000.00. Rates are subject to change at any time.
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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 20% down payment |
5.125% |
0 |
3.884% |
$5.44
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|
| Index 0.51% 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 5% down payment |
4.875% |
0 |
4.320% |
$5.90
|
|
| Index 0.51% Margin 2.50% Caps 1.00% / 2.00% / 5.00%
Rates are subject to change at any time. |
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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, 1-2 family units – 3% down; 3-4 family units - 5% down. 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 |
6.00% |
0 |
6.01% |
$6.00 |
| 30 |
5.750% (1) |
0 |
5.76% |
$5.84 |
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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. Rates are subject to change at any time. Minimum rate is 5.00%; maximum rate is 18.00%. |
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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. |
6.75% |
$11.48 |
| 180 mos. |
7.50% |
$9.27 |
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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
Rates are subject to change at any time. |
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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 |
1.98% |
2.00% |
$1,000.00 |
| 2 Yr. CD |
$1,000.00 |
2.23% |
2.25% |
$1,000.00 |
| 3 Yr. CD |
$1,000.00 |
2.47% |
2.50% |
$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 |
1.50% |
1.51% |
$100,000.00 or more |
| $1000.00 |
1.25% |
1.26% |
$50,000.00 to $99,999.99 |
| $1000.00 |
1.00% |
1.01% |
$25,000.00 to $49,999.99 |
| $1000.00 |
.70% |
.71% |
$10,000.00 to $24,999.99 |
| $1000.00 |
.50% |
.51% |
$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. Deposit rates are subject to change at any time. |
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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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