| Adjustable Rate Mortgages - Home |
| Primary & Secondary Home ~ Purchase or Refinance ~ 20% down payment - $729,750.00 Limit |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
30
|
4.000%
|
1
|
3.543%
|
$4.77
|
|
3/1 yr ARM
|
30
|
4.375%
|
0
|
3.527%
|
$4.99
|
|
5/1 yr ARM
|
30
|
4.875%
|
1
|
3.864%
|
$5.29
|
|
5/1 yr ARM
|
30
|
5.125%
|
0
|
3.851%
|
$5.44
|
| |
|
|
|
|
|
| Jumbo Adjustable Rate Mortgages - Home |
| Primary & Secondary Home ~ Purchase or Refinance ~ 20% down payment . |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
30
|
4.500%
|
1
|
3.630%
|
$5.07
|
|
3/1 yr ARM
|
30
|
4.875%
|
0
|
3.614%
|
$5.29
|
|
5/1 yr ARM
|
30
|
5.375%
|
1
|
4.003%
|
$5.60
|
|
5/1 yr ARM
|
30
|
5.625%
|
0
|
3.988%
|
$5.76
|
|
|
|
|
|
|
All ARMs adjusted with 2% annual caps and 6% lifetime caps. All rates are subject to increase. APRs are based on $125,000.00 loan amount.
3/1 - First adjustment date is after three years; 5/1 - First adjustment date is after 5 years. Annually thereafter for both 3/1 and 5/1. 1/15 and 1/30 adjusted annually. 80% loan to value required on primary and secondary homes. For loan amounts over $1,500,000.00, .25 basis points are added to the current rate and a 75% loan to value is required.
|
|
|
|
|
|
|
|
| APR - Annual Percentage Rate is the actual cost of credit to the borrower, including interest and certain other charges, expressed as a yearly rate and calculated over the life of the loan. |
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~ Ask Us About Our First Time Home Buyer Mortgages ~
|
|
| Adjustable Rate Mortgages - Construction Only |
| Primary & Secondary Home Construction - 20% down payment. |
| Construction - Mandatory Auto Pay from Nantucket Bank Account during Construction Phase |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
32
|
6.125%
|
1
|
3.928%
|
$6.51
|
|
5/1 yr ARM
|
32
|
6.875%
|
1
|
4.426%
|
$6.85
|
| |
|
|
|
|
|
|
| Jumbo Adjustable Rate Mortgages - Construction Only |
| Primary & Secondary Home Construction - 20% down payment. |
| Construction - Mandatory Auto Pay from Nantucket Bank Account during Construction Phase |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
32
|
7.125%
|
1
|
4.091%
|
$6.62
|
|
5/1 yr ARM
|
32
|
7.250%
|
1
|
4.525%
|
$6.71
|
| |
|
|
|
|
|
|
| Adjustable Rate Mortgages - Land |
| Land for Primary & Secondary Home - 35% down payment. |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
1 yr ARM
|
15
|
7.125%
|
0.5
|
4.804%
|
$9.06
|
|
|
|
|
|
|
|
| All ARMs adjusted with 2% annual caps and 6% lifetime caps. All rates are subject to increase. |
| APRs are based on $125,000.00 loan amount. 3/1 - First adjustment date is after three years; |
5/1 - First adjustment date is after 5 years. Annually thereafter for both 3/1 and 5/1. 1/15 and 1/30 adjusted annually...80% loan to value required on primary and secondary homes. For loan amounts over $1,500,000.00, .25% basis points are added to the current rate and a 75% loan to value is required.
|
| APR - Annual Percentage Rate is the actual cost of credit to the borrower, including interest |
| and certain other charges, expressed as a yearly rate and calculated over the life of the loan. |
|
|
|
|
|
|
| Conforming Fixed Rate Mortgages* |
Primary & Secondary Home ~ 20% down payment ~ $417,000.00 limit
Primary with Second Unit ~ 20% down payment ~ $533,850.00 limit
*These loans are subject to secondary market underwriting approval. |
|
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
15
|
4.375%
|
1
|
4.622%
|
$7.59
|
|
15
|
4.625%
|
0
|
4.726%
|
$7.71
|
|
30
|
5.000%
|
1
|
5.148%
|
$5.37
|
|
30
|
5.250%
|
0
|
5.312%
|
$5.52
|
|
|
|
|
|
|
| APRs are based on $125,000.00 loan amount. |
|
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|
|
|
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| Conforming Jumbo Fixed Rate Mortgages* |
Primary & Secondary Home ~ 20% down payment ~ $417,001.00 to $729,750.00
*These loans are subject to secondary market underwriting approval. |
|
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
15
|
4.500%
|
1
|
4.748%
|
$7.65
|
|
15
|
4.750%
|
0
|
4.852%
|
$7.78
|
|
30
|
5.125%
|
1
|
5.274%
|
$5.44
|
|
30
|
5.375%
|
0
|
5.438%
|
$5.60
|
|
|
|
|
|
|
| Non-Conforming Fixed Rate Mortgages |
| Primary & Secondary Home ~ 20% down payment up to $729,750.00 |
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
15 |
4.750% |
1 |
5.002% |
$7.78 |
|
15
|
5.000%
|
0
|
5.104%
|
$7.91
|
|
30
|
5.375%
|
1
|
5.528%
|
$5.60
|
|
30
|
5.625%
|
0
|
5.690%
|
$5.76
|
|
|
|
|
|
|
| APRs are based on $125,000.00 loan amount. 80% loan to value required on primary and secondary homes. For loan amounts over $1,500,000.00, .25 basis points are added to current rate and a 75% loan to value is required. |
|
|
|
|
|
|
|
| APR - Annual Percentage Rate is the actual cost of credit to the borrower, including interest |
| and certain other charges, expressed as a yearly rate and calculated over the life of the loan. |
|
|
|
|
|
|
|
|
|
|
|
|
|
~ Ask Us About Our First Time Home Buyer Mortgages ~
|
| |
|
Please call the Residential Lending Department at Nantucket Bank for an appointment
or to answer your questions. 508-228-0580
|
