978-283-8200 | 160 Main Street, Gloucester, MA 01930 | 15 Martin Street, Essex, MA 01929

Mortgage Rates

*APR Annual Percentage Rate, LTV Loan to Value

Rates Effective: June 21, 2017

All rates are subject to change without notice.

Fixed Rate Mortgages
In House Loan Types
Term Interest Rate Points APR* Payment per $1,000
10-YR. Fixed 10-yr. 4.50% 0 4.603% 120 @ $10.36
15-YR. Fixed 15-yr. 5.00% 0 5.076% 180 @ $7.91
30-YR. Fixed 30-yr. 5.50% 0 5.547% 360 @ $5.68

Rates subject to change without notice. Add 1.000% to rate for investment properties. The payment does not include insurance and taxes and the payment may be greater.

Fixed Rate Mortgages
Sold to Secondary Markets
Term Interest Rate Points APR* Payment per $1,000
15-YR. Fixed 180 3.25% 0 3.252% 180 @ $7.03
30-YR. Fixed 360 4.00% 0 4.109% 360 @ $4.85

Rates subject to change without notice. Loan limits - conventional owner occupied - Single Family $424,100 / Two Family $543,000 / Three Family $656,350 / Four Family $815,650. The payment does not include insurance and taxes and the payment may be greater.

Adjustable Rate Products Term Interest Rate Points APR* Payment per $1,000 Payment Per $1000
after 1st Adjustment
5/1-YR. ARM 30-yr. 4.375% 0 4.41% 60 @ $4.99 300 @ $5.52
7/1-YR. ARM 30-yr. 4.625% 0 4.68% 84 @ 5.14 276@ $5.64
10/1-YR. ARM 30-yr. 4.875% 0 4.96% 120 @ $5.29 240 @ $5.75

FLOOR RATE OF 4.00% on all ARM loan types. The payment does not include insurance and taxes and the payment may be greater. These are premium rates. Not to exceed 80% LTV or PMI. Add 1.000% to rate for investment properties.

Adjustable rate mortgages are available for 1 to 4 family owner-occupied residences. Indexed to the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year as made available by the Federal Reserve Board in the Selected Interest Rate Publication H15 and as published in the Wall Street Journal. All adjustable rates are subject to increase after - consummation. The margin is 3% over the index.

The current, fully-indexed rate is 4.21%

First Time Home Buyer Rates Term Interest Rate Points APR* Payment per $1,000 Payment Per $1000
after 1st Adjustment
5/1-YR. ARM 30-yr. 4.375% 0 4.41% 60 @ $4.99 300 @ $5.52
7/1-YR. ARM 30-yr. 4.625% 0 4.68% 84 @ $5.14 276 @ $5.64
10/1-YR. ARM 30-yr. 4.875% 0 4.96% 120 @ $5.29 240 @ $5.75

FLOOR RATE OF 4.00% on all ARM loan types. The payment does not include insurance and taxes and the payment may be greater. These are premium rates.

Available to first time home buyers for the purchase of One to Four family Owner Occupied Residences; Minimum down payment 10% No PMI - 5% with PMI; Qualifying income ratios: 43%; Maximum loan amount $500,000. All adjustable rates are subject to increase after consummation. $500 towards closing costs. The margin is 3% over the index.

The current, fully indexed rate is 4.21%

Home Equity Line of Credit Term Interest Rate APR* Payment Per $1,000
Home Equity Line of Credit 25-yr. 4.00% 4.00% $3.33 interest only

VARIABLE MONTHLY FOR LIFE OF LOAN A.P.R.(annual percentage rate) as of 1st of month 4.00% (Wall Street Prime 05/31/17 4.00% less .25% with a Floor of 4.00%) 1-4 family Owner Occupied - NO CLOSING COSTS - Maximum A.P.R. 18% - Minimum A.P. R. 4%. Not to exceed 80% LTV including 1st Mortgage - 10 Year Draw - 15 Year Payback Period. Property Insurance will be required. Minimum loan amount $25,000 - Maximum loan amount $500,000 Contact our loan department for investment property rates, terms and costs. Maximum A.P.R. 18%. 

Home Equity Loans Term Interest Rate APR* Payment Per $1,000
5-YR. Fixed 5-yr. 5.00% 5.00% 60 @ $18.87
10-YR. Fixed 10-yr. 5.25% 5.25% 120 @ $10.73
15-YR. Fixed 15-yr. 5.50% 5.50% 180@ $8.18

1-4 family owner-occupied properties. No closing costs except if an appraisal is required. An appraisal may be required if loan to value is greater than 50% of assessed value less first mortgage. Appraisal costs are between $425 - $600. Maximum 80% LTV Minimum loan amount is $15,000.00. The payment does not include insurance and taxes and the payment may be greater.