| Adjustable Rate Mortgages - Home |
| Primary & Secondary Home ~ Purchase or Refinance ~ 20% down payment - $625,500.00 Limit |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
30
|
4.500%
|
1
|
3.818%
|
$5.07
|
|
3/1 yr ARM
|
30
|
4.875%
|
0
|
4.114%
|
$5.29
|
|
5/1 yr ARM
|
30
|
5.375%
|
1
|
4.362%
|
$5.60
|
|
5/1 yr ARM
|
30
|
5.625%
|
0
|
4.531%
|
$5.76
|
| |
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| Adjustable Rate Mortgages - Construction Only |
| Construction - 20% down payment. |
|
Loan
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
Type
|
In Years
|
Rate
|
per $1000 borrowed
|
|
3/1 yr ARM
|
31
|
6.125%
|
1
|
4.796%
|
$6.51
|
|
5/1 yr ARM
|
31
|
6.875%
|
1
|
5.615%
|
$6.85
|
| |
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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
|
7.125%
|
0.5
|
6.153%
|
$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. Loan Amounts over $1,500,000.00 add .25 to the current rate. 80% loan to value required on primary and secondary homes. |
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|
|
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|
|
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| 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. |
|
|
|
|
|
|
| Investment properties add 50 basis points to the current rate and 1 point to the product. |
|
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|
~ Ask Us About Our First Time Home Buyer Mortgages ~
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| 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
|
5.750%
|
1
|
5.090%
|
$5.84
|
|
3/1 yr ARM
|
30
|
6.000%
|
0
|
5.253%
|
$6.00
|
|
5/1 yr ARM
|
30
|
6.125%
|
1
|
5.271%
|
$6.08
|
|
5/1 yr ARM
|
30
|
6.375%
|
0
|
5.382%
|
$6.24
|
|
|
|
|
|
|
| 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
|
7.125%
|
1
|
4.846%
|
$6.68
|
|
5/1 yr ARM
|
31
|
7.250%
|
1
|
6.007%
|
$6.76
|
| |
|
|
|
|
|
| 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
|
7.250%
|
0.5
|
6.172%
|
$9.13
|
| 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. Loan amounts over $1,500,000.00, add 1/4% to current rate.80% loan to value required on primary and secondary homes. |
| Investment properties add 50 basis points to the current rate and 1 point to the product. |
|
| 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
|
5.125%
|
1
|
5.291%
|
$7.97
|
|
15
|
5.375%
|
0
|
5.375%
|
$8.10
|
|
30
|
5.625%
|
1
|
5.725%
|
$5.76
|
|
30
|
5.875%
|
0
|
5.875%
|
$5.92
|
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|
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| APRs are based on $125,000.00 loan amount. |
|
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|
|
|
|
| Conforming Jumbo Fixed Rate Mortgages* |
Primary & Secondary Home ~ 20% down payment ~ $417,001.00 to $625,500.00
*These loans are subject to secondary market underwriting approval. |
|
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
15
|
5.375%
|
1
|
5.542%
|
$8.10
|
|
15
|
5.500%
|
0
|
5.500%
|
$8.17
|
|
30
|
5.875%
|
1
|
5.967%
|
$5.92
|
|
30
|
6.125%
|
0
|
6.125%
|
$6.08
|
|
|
|
|
|
|
| Non-Conforming Fixed Rate Mortgages |
| Primary & Secondary Home ~ 20% down payment up to $625,500.00 |
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
15 |
6.125% |
1 |
6.296% |
$8.51 |
|
15
|
6.375%
|
0
|
6.375%
|
$8.64
|
|
30
|
6.625%
|
1
|
6.731%
|
$6.40
|
|
30
|
6.875%
|
0
|
6.875%
|
$6.57
|
|
|
|
|
|
|
| Non-Conforming Jumbo Fixed Rate Mortgages |
| Primary & Secondary Home ~ 20% down payment >$625,500.00 |
|
Term
|
Interest
|
Points
|
APR
|
Monthly Payments
|
|
In Years
|
Rate
|
per $1000 borrowed
|
|
|
15
|
6.750%
|
1
|
6.924%
|
$8.85
|
|
15
|
7.000%
|
0
|
7.000%
|
$8.99
|
|
30
|
7.250%
|
1
|
7.612%
|
$6.82
|
|
30
|
7.500%
|
0
|
7.500%
|
$6.99
|
|
|
|
|
|
|
| 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. |
|
|
|
|
|
|
| Investment properties add 50 basis points to the current rate and 1 point to the product. |
|
|
|
|
|
|
|
~ 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
|
