Rates
Mortgage Rate Sheet
Rates Effective
September 7, 2023
MORTGAGE PROGRAMS
| TYPE | INTEREST RATE* | POINTS | ANNUAL PERCENTAGE RATE* | MONTHLY PAYMENTS PER $1000 | TERM | |||||
|---|---|---|---|---|---|---|---|---|---|---|
CONVENTIONAL MORTGAGE PROGRAMS FNMA LOAN LIMITS: | ||||||||||
| 30 Year Fixed Rate | 7.250% | 0 | 7.292% | $6.82 | 360 months | |||||
| 20 Year Fixed Rate | 7.000% | 0 | 7.054% | $7.75 | 240 months | |||||
| 15 Year Fixed Rate | 6.750% | 0 | 6.817% | $8.85 | 180 months | |||||
| 10 Year Fixed Rate | 6.750% | 0 | 6.844% | $11.48 | 120 months | |||||
CONSTRUCTION MORTGAGE PROGRAM | ||||||||||
| 30 Year Fixed Rate | 7.500% | 0 | 7.540% | $6.99 | 360 months | |||||
ADJUSTABLE RATE MORTGAGE PROGRAM
| Type | Caps | Interest Rate | Points | Annual Percentage Rate* | Monthly Payments per $1000 | Fully Indexed Monthly Pmts/$1000 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5/1 Year ARM | 2% / 6% | 4.875% | 0 | 4.912% | $5.29 | $9.43 | ||||||
| 7/1 Year ARM | 2% / 6% | 5.125% | 0 | 5.162% | $5.44 | $9.62 | ||||||
| 10/1 Year ARM | 2% / 6% | 5.500% | 0 | 5.538% | $5.68 | $9.90 | ||||||
FIXED RATE INVESTMENT 1-4 units MORTGAGE MEMBER BUSINESS PROGRAM | ||||||||||||
| 25 Year Fixed Rate | 7.750% | 1 | 7.915% | $7.55 | 300 months | |||||||
| Investment ARM Program | Add 1.25% to current ARM rates shown above | |||||||||||
ARM INVESTMENT 5-8 units MORTGAGE MEMBER BUSINESS PROGRAM | ||||||||||||
| 7/1 Mortgage 25 Year | 2%/6% | 6.375% | 1 | 6.529% | $6.67 | $10.81 | ||||||
LAND LOAN MORTGAGES | Please contact the Credit Union for details. | |||||||||||
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Mortgage Team James Maloney NMLS# 3686 Email: jmaloney@frmcu.com (508) 678-9028
NMLS ID# 410816 *Estimated APR (Annual Percentage Rate) based on a $200,000.00 loan amount includes finance charges. Payment amounts do not include taxes and insurance. Rates are subject to change without notice. Rates are determined by your credit score and credit history. Rates quoted above are for members with best credit score. Rates quoted are for single family detached owner-occupied (conforming) property, other rates and terms available based on property type. Investment Mortgage: Available on 1-4 family non-owner occupied residence. Adjustable Rate Program only. Add 1.25% to current ARM rates shown above. Requires 20% down payment. Jumbo Mortgages available on single family homes only. Please inquire about rates and programs guidelines. For an appointment that is convenient for you please call 508-678-9028. | ||||||||||||
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