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Today's Mortgage Rates
EFFECTIVE DATE 12/17/08

Fixed Rate Investment
Fixed Rate Construction Portfolio (Non-Conforming)
Adjustable Rate Jumbo
Adjustable Rate Construction Jumbo Construction


Fixed Rate Mortgage (Owner Occupied, Conforming Mortgage Products)
Term Rate Points APR Payment Per $1000 Borrowed
40 Years 7.750% 0 7.85% $6.77
30 Years 5.000% 0 5.14% $5.37
30 Years 4.750% 1 4.98% $5.22
30 Years 4.500% 2 4.83% $5.07
20 Years 5.000% 0 5.19% $6.60
15 Years 4.875% 0 5.11% $7.84
15 Years 4.625% 1 5.02% $7.71
15 Years 4.375% 2 4.92% $7.59
10 Years 4.875% 0 5.21% $10.55

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Fixed Rate Construction Mortgage (Construction To Permanent)
Term Rate Points APR Payment Per $1000 Borrowed
30 Years 5.000% 1 5.57% $5.37
30 Years 4.750% 2 5.41% $5.22
30 Years 4.500% 3 5.26% $5.07
20 Years 5.000% 1 5.62% $6.60
15 Years 4.875% 1 5.54% $7.84
15 Years 4.625% 2 5.45% $7.71
15 Years 4.375% 3 5.35% $7.59
10 Years 4.875% 1 5.64% $10.55

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Adjustable Rate Mortgage (30 Year Amortization Reflected)
Term Rate Points APR Payment Per $1000 Borrowed
1 Year 4.875% 0 7.28% $4.49
3/1 Year 5.125% 0 6.88% $4.49
5/1 Year 5.250% 0 6.90% $4.49
7/1 Year 5.375% 0 6.88% $4.49
10/1 Year 5.500% 0 6.75% $4.49

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Adjustable Rate Construction Mortgage (Construction To Permanent)
Term Rate Points APR Payment Per $1000 Borrowed
1 Year 4.875% 1 7.71% $4.49
3/1 Year 5.125% 1 7.31% $4.49
5/1 Year 5.250% 1 7.33% $4.49
7/1 Year 5.375% 1 7.31% $4.49
10/1 Year 5.500% 1 7.18% $4.49

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Investment Mortgage
Term Rate Points APR Payment Per $1000 Borrowed
30 Year Fixed 5.250% 2 5.59% $5.52
15 Year Fixed 5.000% 2 5.56% $7.91

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Portfolio Mortgage (Non-Conforming 1-4 Family, 30 Year Amortization Reflected)
Term Rate Points APR Payment Per $1000 Borrowed
1 Year Adjustable
2/6 Caps
1 Year Treasury
3.500% 0 3.60% $4.49
1 Year Adjustable
Investment
3.500% 2 3.84% $4.49

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Jumbo Mortgage (Fixed Rate, Loan To Value 75% Or Less)
Term Rate Points APR Payment Per $1000 Borrowed
30 Year 5.500% 0 5.60% $5.68
15 Year 5.250% 0 5.49% $8.04

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Jumbo Construction Mortgage (Fixed Rate, Loan To Value 75% Or Less)
Term Rate Points APR Payment Per $1000 Borrowed
30 Year 5.500% 1 6.03% $5.68
15 Year 5.250% 1 5.92% $8.04

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For Further Information Please Call:

Paul M. Mulligan, SVP and Retail Loan Manager, Newport (401) 847-5500

Mildred Dion, VP/Branch Manager, Union St. (401) 596-2911

Maria Morrison-Barr, VP and Branch Manager, Newport (401) 847-5500

Donna Manning, VP and Branch Manager, Middletown (401) 847-9900

Sue Ann Votta, VP and Branch Manager, Wakefield (401) 789-9200

Frankie Algiere, VP/Branch Manager, Wilder Ave., (401) 596-5353

Also Available - "B" & "C" Mortgage Products, call Paul for details

Ask About Newport Federal Savings Bank’s 1 Point 1 Closing Construction/Permanent Loan


The above conforming loan rates assume a 20% downpayment on a loan amount of $100,000. Conforming loan rate maximums are as follows: owner-occupied single family dwelling - $ 417,000 ; two family - $ 533,850 ; three family - $ 645,300 ; four family - $ 801,950 . If the downpayment is less than 20%, mortgage insurance may be needed, which would increase the APR. Investment property mortgages require a 30% downpayment, while Jumbo financing requests (loan requests in excess of the above-listed dollar maximums) require a 25% downpayment. All loans are subject to credit approval. Adjustable rate and loan payment may increase after consummation of any adjustable rate mortgage.

Adjustable-Rate Mortgages (ARMs) feature an interest rate which adjusts periodically with changing market rates. NewportFed utilizes the average yield on U.S. Treasury securities adjusted to a constant maturity of 1 year plus a fixed margin of 2 and 3/4 (or 2.75%) percent. Typically, the maximum amount your rate can increase or decrease per adjustment period is 2%, and over the life of the loan, 6%.



More information on any of our products and services can be requested through
e-mail (warning: do not send confidential information via email) or by calling us at (401) 847-5500.


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NewportFed, 100 Bellevue Avenue, Newport, RI 02840 __ Telephone: 401.847.5500__ © 2008 NewportFed. All rights reserved.__ Member FDIC _Equal Housing Lender