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| Personal Banking Services : Borrowing |
| Today's Mortgage Rates |
| EFFECTIVE DATE: May 6, 2008 until
changed |
| |
CONFORMING MORTGAGE
PRODUCTS |
PAYMENT PER $1000 BORROWED |
CONSTRUCTION
TO PERMANENT |
PAYMENT PER $1000 BORROWED |
| |
RATE |
PTS. |
APR |
|
RATE |
PTS. |
APR |
|
| OWNER OCCUPIED |
| 40 Year Fixed |
6.500% |
0 |
6.60% |
($5.85) |
N/A |
N/A |
N/A |
N/A |
| 30 Year Fixed |
5.750% |
0 |
5.89% |
($5.84) |
5.750% |
1 |
6.32% |
($5.84) |
| |
5.500% |
1 |
5.73% |
($5.68) |
5.500% |
2 |
6.16% |
($5.68) |
| |
5.250% |
2 |
5.58% |
($5.52) |
5.250% |
3 |
6.01% |
($5.52) |
| 20 Year Fixed |
5.625% |
0 |
5.82% |
($6.95) |
5.625% |
1 |
6.25% |
($6.95) |
| 15 Year Fixed |
5.250% |
0 |
5.49% |
($8.04) |
5.250% |
1 |
5.92% |
($8.04) |
| |
5.000% |
1 |
5.40% |
($7.91) |
5.000% |
2 |
5.83% |
($7.91) |
| |
4.750% |
2 |
5.30% |
($7.78) |
4.750% |
3 |
5.73% |
($7.78) |
| 10 Year Fixed |
5.125% |
0 |
5.46% |
($10.67) |
5.125% |
1 |
5.89% |
($10.67) |
|
| ADJUSTABLE
RATES - 30 year amortization reflected |
| 1 Year Adjustable |
3.750% |
0 |
6.15% |
($5.14) |
3.750% |
1 |
6.58% |
($5.14) |
| 1 Year Adjustable
- convertible |
3.875% |
0 |
6.18% |
($5.14) |
3.875% |
1 |
6.61% |
($5.14) |
| 3/1 Year Adjustable |
4.625% |
0 |
6.38% |
($5.14) |
4.625% |
1 |
6.81% |
($5.14) |
| 5/1 Year Adjustable |
5.125% |
0 |
6.78% |
($5.14) |
5.125% |
1 |
7.21% |
($5.14) |
| 7/1 Year Adjustable |
5.375% |
0 |
6.88% |
($5.14) |
5.375% |
1 |
7.31% |
($5.14) |
| 10/1 Year Adjustable |
5.750% |
0 |
7.00% |
($5.14) |
5.750% |
1 |
7.43% |
($5.14) |
|
| INVESTMENT |
| 30 Year Fixed |
5.750% |
2 |
6.09% |
($5.84) |
|
N/A |
|
N/A |
| 15 Year Fixed |
5.250% |
2 |
5.81% |
($8.04) |
|
N/A |
|
N/A |
|
| PORTFOLIO
- Non-Conforming (1-4 family) - 30 year amortization
reflected |
| 1 Year Adjustable |
4.625% |
0 |
4.73% |
($5.14) |
|
N/A |
|
N/A |
| 2/6 Caps-1 Year
Treasury |
|
|
|
|
|
N/A |
1 Year Adjustable
(investment) |
4.625% |
2 |
4.97% |
($5.14) |
|
N/A |
|
N/A |
|
| JUMBO (LTV
< 75%) |
| 30 Year Fixed |
6.000% |
0 |
6.10% |
($6.00) |
6.000% |
1 |
6.53% |
($6.00) |
| 15 Year Fixed |
5.500% |
0 |
5.74% |
($8.17) |
5.500% |
1 |
6.17% |
($8.17) |
|
| Back |
For further information please
call:
Paul M. Mulligan, VP and Retail Loan Manager,
Newport (401) 847-5500
Mildred Dion, VP/Branch Manager, Union St. 401-596-2911
Maria Morrison-Barr, AVP and Branch Manager, Newport
(401) 847-5500
Donna Manning, AVP and Branch Manager, Middletown
(401) 847-9900
Sue Ann Votta, AVP and Branch Manager, Wakefield
(401) 789-9200
Frankie Algiere, AVP/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 |
|
| Member
FDIC |
|
Equal Housing Lender |
|
| 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%. |
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| More information on any of our consumer
mortgage programs can be requested through e-mail
(warning: do not send confidential information via
email) or by calling us at (401) 847-5500. To best
serve its customers, NewportFed will only accept
deposits from the market areas contiguous to our
branch locations.
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