LOANS
Residential Mortgage Rates* - As of September 3, 2010
| Term | Rate | APR | Points | Monthly P & I per $1,000 |
|---|---|---|---|---|
| 15 year | 3.500% | 3.807% | 2 | $7.15 |
| 15 year | 3.750% | 3.909% | 1 | $7.27 |
| 15 year | 4.000% | 4.011% | 0 | $7.40 |
| 30 year | 4.125% | 4.301% | 2 | $4.85 |
| 30 year | 4.375% | 4.467% | 1 | $4.99 |
| 30 year | 4.625% | 4.632% | 0 | $5.14 |
*Join the Pentucket Club for 1/8% rate discount plus $250 closing credit.
Rates are based on owner occupied property and are subject to change without notice. The monthly P & I per $1,000 are based on the rate and term indicated assuming a down payment of 20%. Please note that Private Mortgage Insurance (PMI) is required on all loans with LTV's greater than 80%. If an escrow account is required or requested, the actual monthly payment will also include amounts of real estate taxes and/or PMI, if applicable. The maximum loan limits are as follows: Single Family-$417,000; Two Family-$533,850; Three Family-$645,300; and Four Family-$801,950. Additional rates for loans that exceed the loan limits are available upon request. Call to speak to a Loan Officer. All loans are subject to the Bank's credit standards. The APR is based on a loan of $180,000; please call for a personalized quote.
ARM Rates are currently not available online, please contact us for rates.
| Adjustable Rate First Mortgages (ARMs) | ||||
| Term | Rate | Points | APR | Monthly P & I per $1,000 |
|---|---|---|---|---|
Rates are based on owner occupied property and are subject to change without notice. The monthly P & I per $1,000 are based on the rate and term indicated assuming a down payment of 20%. Please note that Private Mortgage Insurance (PMI) is required on all loans with LTV's greater than 80%. If an escrow account is required or requested, the actual monthly payment will also include amounts of real estate taxes and/or PMI, if applicable. The maximum loan limits are as follows: Single Family-$417,000; Two Family-$533,850; Three Family-$645,300; and Four Family-$801,950. Additional rates for loans that exceed the loan limits are available upon request. Call to speak to a Loan Officer. All loans are subject to the Bank's credit standards. The APR is based on a loan of $180,000; please call for a personalized quote.
| Pentucket Bank's Affordable Homebuyer Programs | |||||
| Program | Term | Rate | APR | Points | Monthly P & I per $1,000 |
|---|---|---|---|---|---|
| Low to Moderate Income Homebuyer Program** | 30 Year Fixed | 4.375% | 4.381 | 0 | $4.99 |
| First Time Homebuyer Program*** | 30 Year Fixed | 4.375 | 4.381 | 0 | $4.99 |
Rates are based on owner occupied property and are subject to change without notice. The monthly P & I per $1,000 are based on the rate and term indicated assuming a down payment of 20%. Please note that Private Mortgage Insurance (PMI) is required on all loans with LTV's greater than 80%. If an escrow account is required or requested, the actual monthly payment will also include amounts of real estate taxes and/or PMI, if applicable. The maximum loan limits are as follows: Single Family-$417,000; Two Family-$533,850; Three Family-$645,300; and Four Family-$801,950. Additional rates for loans that exceed the loan limits are available upon request. Call to speak to a Loan Officer. All loans are subject to the Bank's credit standards. The APR is based on a loan of $180,000; please call for a personalized quote.
- **Up to $250 credit towards closing cost. Income restrictions apply.
- ***Up to $250 credit towards closing cost.
- Adjustable rate options are also available for the Affordable Homebuyer Program. Please call for details.
Pentucket Bank services the loans we make. All your decisions and payments are handled locally.
Jumbo Rates/Terms are available. Call to speak to a Loan Officer.
Non-Owner Occupied 1-4 Family Mortgage (3)
| Rate | Points | APR | Monthly P & I per $1,000 |
|---|---|---|---|
| 5.625% | 1.5 | 5.769% | $5.76 |
(3) Assumes a maximum LTV of 70%. Please note that private mortgage insurance is not currently available for investment properties. If an escrow account is requested, the actual montly payment will also include amounts of real estate taxes. The maximum loan limits are as follows: Single Family-$417,000; Two Family-$533,850; Three Family-$645,300; and Four Family-$801,950. Additional rates for loans that exceed the maximum limits are available upon request. The APR is based on loan of $180,000; please call for a personalized quote.
Home Equity Lines of Credit
| Type | Maximum Term | Rates |
|---|---|---|
| EQUITY LINES OF CREDIT | -5 Year Draw/10 Year Repayment | (variable) |
Disclosure: The Pentucket Home Equity Line of Credit Annual Percentage Rate (APR) is a variable rate based on the Prime Rate, as published in the money section of the Wall Street Journal, Plus 1/2%, subject to a floor of 4.50%. The Prime Rate as of December 16, 2008 is 3.25%. 1-4 family, owner occupied property only. Property insurance required. All loans are subject to the Bank's credit standards. Maximum APR is 18%.
- Borrowers receive Prime + 0% for Pentucket Club, (subject to a floor of 4.50%).
- No closing costs in most cases.
- Early termination fee may apply if paid within two years.
Prime Rate
The Prime Rate is 3.25% as of December 16, 2008.
Fixed Rate Home Equity Loan
| Term | Points | Rate* | APR | Monthly P & I per $1,000 |
|---|---|---|---|---|
| 5 Years | 0 | 4.990% | 4.990% | $18.87 |
| 10 Years | 0 | 6.500% | 6.500% | $11.35 |
| 15 Years | 0 | 6.750% | 6.750% | $8.85 |
| 20 Years | 0 | 7.000% | 7.000% | $7.75 |
* Borrower's receive a 0.25% reduction for Pentucket Club or auto charge from a Pentucket Bank checking account with the exception of the 5 Year rate, which is a promotional rate.
- No closing costs if loan is in a valid second mortgage position behind a Bank, Credit Union or Mortgage Company.
- An early termination fee may apply if paid off within two years.
CONSUMER LOAN RATES AND TERMS - As of September 3, 2010
| Type | Maximum Term | Rates | Monthly P & I per $1,000 |
|---|---|---|---|
| AUTOMOBILE - New | 36 months | 6.00% | $30.42 |
| AUTOMOBILE - New | 48 months | 6.50% | $23.71 |
| AUTOMOBILE - New | 60 months | 6.50% | $19.57 |
| AUTOMOBILE - Used | 36 months | 6.50% | $30.65 |
| AUTOMOBILE - Used 1-3 yrs old | 48 months | 6.75% | $23.83 |
| AUTOMOBILE - Used 1-3 yrs old | 60 months | 7.00% | $19.80 |
| AUTOMOBILE - Used 4-5 yrs old | max 36 months | 7.75% | $31.22 |
| AUTOMOBILE - Used more than 5 yrs old | max 24 months | 8.50% | $45.46 |
All loans are subject to the Bank's credit standards.
