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Mortgage Rates

Mortgage Rates
Effective Date: Saturday, July 20th, 2024
NameMortgage RateAPR CapLoan To Value (LTV)Maximum Limit
Secondary Market Mortgages
30 Year Fixed Rate 7.000% As low as 7.260% N/A 97.00% $400,000.00
20 Year Fixed Rate 6.750% As low as 7.082% N/A 95.00% $400,000.00
15 Year Fixed Rate 6.500% As low as 6.624% N/A 95.00% $400,000.00
10 Year Fixed Rate 6.375% As low as 6.546% N/A 95.00% $400,000.00
Rate scenario: A Fixed Rate Mortgage for a Primary Residence Purchase transaction with mortgage $200,000 over 30 years at 7.000% interest and 7.286% APR will have a monthly payment of $1,330.60. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Downpayment of 20%, 680 credit score was incorporated in calculation. Rates & fees may vary and are based on credit history, down payment, property type and other factors associated with your loan application. Loans with less than 20% down payment will require private mortgage insurance. Rates vary based on market conditions and are subject to intraday market changes.
In-House Mortgages
15 Year In-House Fixed 6.750% As low as 6.888% N/A 95.00% $400,000.00
10 Year In-House Fixed 6.625% As low as 6.816% N/A 95.00% $400,000.00
Rate scenario: A Portfolio Fixed Rate Mortgage for a Primary Residence Purchase transaction with mortgage $200,000 over 15 years at 6.750% interest and 6.939% APR will have a monthly payment of $1,769.82. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Downpayment of 20%, 680 credit score was incorporated in calculation. Rates & fees may vary and are based on credit history, down payment, property type and other factors associated with your loan application. Loans with less than 20% down payment will require private mortgage insurance. Rates vary based on market conditions and are subject to intraday market changes.
5 Year Adjustable Rate Mortgages – 30 year Amortization
Primary & Secondary Residences 6.625% As low as 6.714% 2.00% 80.00% $400,000.00
Rate scenario: An ARM mortgage for a Primary Residence Purchase transaction with a mortgage of $200,000 over 30 years at 6.625% interest and 6.751% APR will have a monthly payment of $1,280.62. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Downpayment of 20%, 680 credit score is incorporated in calculation. Rates & fees may vary and are based on credit history, down payment, property type and other factors associated with your loan application. Loans with less than 20% down payment will require private mortgage insurance. Rates vary based on market conditions and are subject to intraday market changes.

With 5/5 ARM financing, your loan will have the ability to adjust every five years and the interest rate will be based on the 5 Yr Treasury Par Yield Curve Rates. The interest rate cannot increase/decrease more than 2% at each adjustment.  There is a ceiling of 10% and a floor cap of 4.5%.
5 Year Adjustable Rate Mortgages – 20 year Amortization
Investment 1-4 Units 7.625% As low as 7.788% 2.00% 80.00% $250,000.00

Rate scenario: An Investment purchase transaction with a mortgage of $100,000 over 20 years at 7.625% interest and 7.911% APR will have a monthly payment of $813.25. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Downpayment of 20%, 680 credit score is incorporated in calculation. Rates & fees may vary and are based on credit history, down payment, property type and other factors associated with your loan application. Maximum financing is at 80% Loan-to-Value.

With 5/5 ARM financing, your loan will have the ability to adjust every five years and the interest rate will be based on the 5 Yr Treasury Par Yield Curve Rates. The interest rate cannot increase/decrease more than 2% at each adjustment.  There is a ceiling of 10% and a floor cap of 4.5%.

Vacant Land 7.625% As low as 7.877% 2.00% 80.00% $100,000.00

Rate scenario: A Vacant Land mortgage for a purchase transaction with a mortgage of $100,000 over 20 years at 7.625% interest and 7.877% APR will have a monthly payment of $813.25. Taxes and insurance not included; therefore, the actual payment obligation will be greater. Downpayment of 20%, 680 credit score is incorporated in calculation. Rates & fees may vary and are based on credit history, down payment, property type and other factors associated with your loan application. Maximum financing is at 80% Loan-to-Value.

With 5/5 ARM financing, your loan will have the ability to adjust every five years and the interest rate will be based on the 5 Yr Treasury Par Yield Curve Rates. The interest rate cannot increase/decrease more than 2% at each adjustment.  There is a ceiling of 10% and a floor cap of 4.5%.

Construction and Home Equity

For Construction or Home Equity Rates, please contact our Mortgage Department at 906-632-5370.