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EFFECTIVE DATE 12/17/08
| 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 |
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_Equal Housing Lender |
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