| As of July 27, 2010
Unless otherwise noted: Maximum Loan Amount $417,000 Jumbo Rates Available
Litchfield Bancorp does not offer, broker, make or sell non-traditional, sub-prime or non-prime home loans as defined in Connecticut Public Act 08-176, an Act Concerning Responsible Lending and Economic Security.
Posted rates do not include Construction to Permanent Loans. Please call for our Current Construction Loan Rates.
For All Fixed Rate and ARM Programs: Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. The actual Annual Percentage Rate (APR) and fees available to you may differ from the rates posted based on your credit history, loan amount, property type, product features, and loan to value ratio. The rates posted are based on certain assumptions that may or may not apply to your loan. All rates and terms shown are subject to change without notice. Loan is available only for single family owner-occupied homes and approved condominiums. Property insurance is required. Flood insurance may be required. Loan to Value (LTV) of 80.01% to 90% will require Private Mortgage Insurance (PMI).
For All Fixed Rate and ARM Programs: Cost per $1,000 does not include taxes and insurance. The actual payment will be higher if escrow payments for property taxes and/or insurance are made in addition to the regularly scheduled loan payment.
FIXED RATE MORTGAGES
| MORTGAGE FIXED RATES |
RATE |
|
POINTS |
|
ANNUAL PERCENTAGE RATE (A.P.R.) |
|
PAYMENT PER $1,000 BORROWED |
| 30 YEAR |
4.500% |
|
2.0 |
|
4.705% |
|
$5.07 |
| |
4.875% |
|
0.0 |
|
4.907% |
|
$5.29 |
| 20 YEAR |
4.250% |
|
2.0 |
|
4.529% |
|
$6.19 |
| |
4.625% |
|
0.0 |
|
4.668% |
|
$6.39 |
| 15 YEAR |
3.750% |
|
2.0 |
|
4.101% |
|
$7.27 |
| |
4.125% |
|
0.0 |
|
4.179% |
|
$7.46 |
ADJUSTABLE RATE MORTGAGES (A.R.M.) ARMs offer an initial fixed interest rate period followed by a period when the rate may adjust anually. Rate caps limit interest rate changes over teh life of the loan. The payment per $1,000 below is based on a term of 30 years and the initial interest rate, after which the rate and payments will be determined based on the One Year Treasury Index plus the margin.
| ARM |
RATE |
|
POINTS |
|
ANNUAL PERCENTAGE RATE (A.P.R.) |
|
CAPS |
|
MARGIN |
|
PAYMENT PER $1,000 BORROWED |
1/1 ARM
1-4 CAPS |
Interest rate and payment amount is fixed for the first year, then is subject to change every year with caps of 1% per adjustment and 4% for the life of the loan. |
| |
4.000% |
|
2.0 |
|
3.288% |
|
1/4 |
|
2.750% |
|
$4.77 |
| 4.250% |
|
0.0 |
|
3.147% |
|
1/4 |
|
2.750% |
|
$4.92 |
|
1/1 ARM
2-6 CAPS |
Interest rate and payment amount is fixed for the first year, then is subject to change every year with caps of 2% per adjustment and 6% for the life of the loan. |
| |
3.750% |
|
2.0 |
|
3.268% |
|
2/6 |
|
2.750% |
|
$4.63 |
| 4.000% |
|
0.0 |
|
3.127% |
|
2/6 |
|
2.750% |
|
$4.77 |
|
3/1 ARM
2-6 CAPS |
Interest rate and payment amount is fixed for the first year, then is subject to change every year with caps of 2% per adjustment and 6% for the life of the loan. |
| |
4.125% |
|
2.0 |
|
3.461% |
|
2/6 |
|
2.750% |
|
$4.85 |
| 4.375% |
|
0.0 |
|
3.353% |
|
2/6 |
|
2.750% |
|
$4.99 |
|
5/1 ARM
2-6 CAPS |
Interest rate and payment amount is fixed for the first year, then is subject to change every year with caps of 2% per adjustment and 6% for the life of the loan. |
| |
4.625% |
|
2.0 |
|
3.794% |
|
2/6 |
|
2.750% |
|
$5.14 |
| 4.875% |
|
0.0 |
|
3.715% |
|
2/6 |
|
2.750% |
|
$5.29 |
|
7/1 ARM
2-6 CAPS |
Interest rate and payment amount is fixed for the first year, then is subject to change every year with caps of 2% per adjustment and 6% for the life of the loan. |
| |
4.750% |
|
2.0 |
|
4.049% |
|
2/6 |
|
2.750% |
|
$5.22 |
| 5.000% |
|
0.0 |
|
3.998% |
|
2/6 |
|
2.750% |
|
$5.37 |
|
10/1 ARM
2-6 CAPS |
Interest rate and payment amount is fixed for the first year, then is subject to change every year with caps of 2% per adjustment and 6% for the life of the loan. |
| |
4.875% |
|
2.0 |
|
4.396% |
|
2/6 |
|
2.750% |
|
$5.29 |
| 5.125% |
|
0.0 |
|
4.386% |
|
2/6 |
|
2.750% |
|
$5.44 |
FIRST TIME HOMEBUYER PROGRAM: Maximum $260,000 $375 application fee, LTV up to 95%; 80.01% - 95%, PMI required
| FIRST TIME HOMEBUYER PROGRAM |
RATE |
|
POINTS |
|
ANNUAL PERCENTAGE RATE |
|
CAPS |
|
MARGIN |
|
PAYMENT PER $1,000 BORROWED |
5/1 ARM
1-4 CAPS |
Interest rate and payment amount is fixed for the first five years, then is subject to change every year with caps of 1% per adjustment and 4% for the life of the loan. |
| |
4.500% |
|
0.00 |
|
3.564% |
|
1/4 |
|
2.750% |
|
$5.07 |
NONSPECULATIVE BUILDING LOTS Maximum $250,000 Maximum LTV 75% Maximum Term 15 years.
| NONSPECULATIVE BUILDING LOTS |
RATE |
|
POINTS |
|
ANNUAL PERCENTAGE RATE |
|
CAPS |
|
MARGIN |
|
PAYMENT PER $1,000 BORROWED |
1/1 ARM
2-6 CAPS |
Interest rate and payment amount is fixed for the first year, then is subject to change every year with caps of 2% per adjustment and 6% for the life of the loan. |
| |
6.000% |
|
1.00 |
|
4.679% |
|
2/6 |
|
4.000% |
|
$8.44 |
BRANCH OFFICES:
Litchfield 860-567-9401 - Jennifer Ives-Groebl, Paul A. McLaughlin, Jr., Margret K. Warner
Torrington 860-482-9707 - Jennifer Ives-Groebl Oakville 860-274-7467 - Debra P. Telman
Washington 860-868-7301 - Sarah Better Lakeville 860-435-9828 - Susan Dickinson
RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. PLEASE CALL FOR CURRENT RATE QUOTES. EVENING INTERVIEWS BY APPOINTMENT. |
