Mortgage Rates
Residential Mortgages
| Mortgage Loans | ||
| Effective Date: Monday, January 27th, 2020 | ||
| Loan Name | Term | APR |
| Home Equity Loan | ||
1 Year Adjustable |
6.125% | |
| Fixed | up to 10 years | 6.125% |
| Home Equity Line of Credit | 5.000% | |
| Lot Mortgage | fixed up to 10 years | 7.000% |
Commercial Mortgages
| 1-4 Units, Fixed Rate | ||
| Term | Rate | APR |
| 10 years | 6.62% | 6.62% |
| 12 years | 6.75% | 6.75% |
| 12 years (baloon loan with 15 yr amortization) | 6.87% | 6.87% |
| 1-4 Units, Adjustable Rate | ||
| 12 year baloon loans with 30 year amortization. Rate cannot change more than 2% per year and 6% during the life of the loan; it will never go below the initial rate. | ||
| Initial Fixed Interest Rate Period | Rate | APR |
| 1 year | 5.75% | 8.13% |
| 3 years | 5.75% | 8.50% |
| 5 years | 6.50% | 8.37% |
| 7 years | 5.75% | 8.28% |
| 5-8 Units, Fixed Rate | ||
| Term | Rate | APR |
| 10 years | 6.75% | 6.75% |
| 12 years | 5.75% | 6.87% |
| 12 years (baloon loan with 15 year amortization) | 7.00% | 7.00% |
| 5-8 Units, Adjustable Rate | ||
| 12 year baloon loans with 30 year amortization. Rate cannot change more than 2% per year and 6% during the life of the loan; it will never go below the initial rate. | ||
| Initial Fixed Interest Rate Period | Rate | APR |
| 1 year | 5.87% | 8.04% |
| 3 years | 6.37% | 8.39% |
| 5 years | 5.75% | 8.31% |
| 7 years | 7.00% | 8.24% |
| 5-8 Units, Adjustable Rate |
| 12 year baloon loans with 30 year amortization. Rate cannot change more than 2% per year and 6% during the life of the loan; it will never go below the initial rate. |