| Adjustable Rate Mortgages - Home |
| Primary & Secondary Home ~ Purchase or Refinance ~ 20% down payment - $417,000.00 Limit |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
30
|
5.500%
|
1
|
5.124%
|
$5.68
|
|
3/1 yr ARM
|
30
|
6.250%
|
0
|
5.220%
|
$6.16
|
|
5/1 yr ARM
|
30
|
5.500%
|
1
|
5.209%
|
$5.68
|
|
5/1 yr ARM
|
30
|
5.875%
|
0
|
5.264%
|
$5.92
|
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| Adjustable Rate Mortgages - Construction Only |
| 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
|
31
|
6.250%
|
1
|
5.400%
|
$6.09
|
|
5/1 yr ARM
|
31
|
6.625%
|
1
|
5.749%
|
$6.34
|
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| Adjustable Rate Mortgages - Land |
| Land for Primary & Secondary Home ~ 30% down payment |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
1 yr ARM
|
15
|
7.000%
|
0.5
|
6.141%
|
$8.99
|
|
|
|
|
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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. |
|
| 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 and Our Interest Only Mortgages ~
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| Jumbo Adjustable Rate Mortgages - Home |
| Primary & Secondary Home ~ Purchase or Refinance ~ 20% down payment - $2,500,000.00 Limit |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
30
|
6.125%
|
1
|
5.280%
|
$6.08
|
|
3/1 yr ARM
|
30
|
6.375%
|
0
|
5.251%
|
$6.24
|
|
5/1 yr ARM
|
30
|
6.375%
|
1
|
5.555%
|
$6.24
|
|
5/1 yr ARM
|
30
|
6.750%
|
0
|
5.610%
|
$6.49
|
|
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|
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| Jumbo Adjustable Rate Mortgages - Construction Only |
| 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
|
31
|
7.375%
|
1
|
5.766%
|
$6.85
|
|
5/1 yr ARM
|
31
|
7.875%
|
1
|
6.374%
|
$7.19
|
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| Jumbo Adjustable Rate Mortgages - Land |
| Land - Primary & Secondary ~ 30% down payment |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
1 yr ARM
|
15
|
7.125%
|
0.5
|
6.160%
|
$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; Loan amounts over $1,500,000.00, add 1/4% to current rate. |
| 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. |
|
|
|
| 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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| 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 |
|
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
15
|
5.375%
|
1
|
5.542%
|
$8.10
|
|
15
|
5.625%
|
0
|
5.625%
|
$8.24
|
|
30
|
5.875%
|
1
|
5.976%
|
$5.92
|
|
30
|
6.125%
|
0
|
6.125%
|
$6.08
|
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| APRs are based on $125,000.00 loan amount. |
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| Non-Conforming Fixed Rate Mortgages |
| Primary & Secondary Home ~ 20% down payment ~ $2,500,000.00 limit |
|
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
15
|
6.375%
|
1
|
6.547%
|
$8.64
|
|
15
|
6.750%
|
0
|
6.750%
|
$8.85
|
|
30
|
6.875%
|
1
|
6.982%
|
$6.57
|
|
30
|
7.250%
|
0
|
7.250%
|
$6.82
|
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| Home Equity Loans |
| $500,000.00 Maximum - 70% loan to value ratio |
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
Auto Pay
|
20
|
7.875%
|
0
|
7.875%
|
$8.29
|
|
No Auto Pay
|
20
|
8.000%
|
0
|
8.000%
|
$8.36
|
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| APRs are based on $125,000.00 loan amount. Loan amounts over $1,500,000.00, add 1/4% to current rate. |
| 80% loan to value required on primary and secondary homes. |
| 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 and Our Interest Only Mortgages ~
|
| |
|
Please call the Residential Lending Department at Nantucket Bank for an appointment
or to answer your questions. 508-228-0580
|
