Brotherhood CU offers its members many types of real estate
loans including: first mortgages, home equity loans and
home equity lines of credit; for purchase or refinancing;
fixed or adjustable rates; up to $500,000.
The rates quoted here are indications only and are based on
certain underwriting criteria, and all rates are subject
to change without notice. APR calculations are based upon
a loan amount of $417,000 with a 20% down payment or 80%
LTV. Maximum LTV(Loan to Value) = 90%. PMI (Private
Mortgage Insurance) required on loans over 80% LTV. 1-4
family owner occupied properties only. CONDOMINIUMS - 30%
DOWN PAYMENT REQUIRED.
If you require additional terms or conditions please click here for that information.
Please call Brotherhood CU at (781) 598-5555, or send email
to loandept@brotherhoodcu.org
for further information.
Effective November 5, 2008
Fixed Rate Mortgages - Up To $417,000.00*
| 10 Year Term
| INTEREST RATE
| POINTS
| APR** (as low as)
| Payments per thousand per month
|
|
| 5.875%
| 0.00
| 5.90%
| $11.04
|
|
| 5.75%
| 1.00
| 5.99%
| $10.98
|
|
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|
|
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|
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|
|
| 15 Year Term
|
|
|
|
|
|
| 6.00%
| 0.00
| 6.02%
| $8.44
|
|
| 5.875%
| 1.00
| 6.05%
| $8.37
|
|
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| 20 Year Term
|
|
|
|
|
|
| 6.25%
| 0.00
| 6.26%
| $7.31
|
|
| 6.125%
| 1.00
| 6.26%
| $7.24
|
|
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| 30 Year Term
|
|
|
|
|
|
| 6.50%
| 0.00
| 6.51%
| $6.32
|
|
| 6.375%
| 1.00
| 6.48%
| $6.24
|
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|
*JUMBO RATES AVAILABLE FOR MORTGAGES FROM $417,001.00 TO
$500,000.00. CALL FOR OUR CURRENT RATES. Maximum LTV =
90%. PMI required on loans over 80% LTV. 1-4 family owner
occupied properties only. CONDOMINIUMS - 30% DOWN PAYMENT
REQUIRED.Call for additional rates. **APR=Annual
Percentage Rate.The rates quoted are accurate as of the
date indicated and are subject to change. Terms are
dependent upon amount financed. Rates shown above are for
members with the best credit profile. Other rates are
available, based on your credit score.
The 30 year, 20 year, 15 year and 10 year Fixed Rate
Mortgages are fully amortizing loans. The rate will be
fixed for the full term of the loan and your monthly
principal and interest payments will not change for the
term of the loan.
Adjustable Rate Mortgages-Up To $417,000.00*
|
30 Year Term
| INITIAL RATE
| POINTS
| MARGIN
| APR** (as low as)
|
|
1 Year ARM
| 5.50%
| 0.00
| 2.75
| 4.25%
|
|
|
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|
30 Year Term
|
INITIAL RATE
|
POINTS
|
MARGIN
|
APR** (as low as)
|
|
3 Year ARM
| 5.625%
| 0.00
| 2.75
| 4.87%
|
|
|
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30 Year Term
|
INITIAL RATE
|
POINTS
|
MARGIN
|
APR** (as low as)
|
|
5 Year ARM
| 5.75%
| 0.00
| 2.75
| 5.60%
|
|
|
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|
30 Year Term
|
INITIAL RATE
|
POINTS
|
MARGIN
|
APR** (as low as)
|
|
7 Year Fixed/3 Year ARM
|
5.875%
|
0.00
|
2.75
|
5.26%
|
|
|
|
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-1 Year ARM payments per thousand borrowed: $5.68. CAPS 2%
per adjustment/6% over life of loan. 3 Year ARM payments
per thousand borrowed: $5.76. CAPS 3% per adjustment/6%
over life of loan. 5 Year ARM payments per thousand
borrowed: $5.84. CAPS 3% per adjustment/6% over life of
loan. 7 Year Fixed/3 Year ARM payments per thousand
borrowed: $5.92. CAPS 3% per adjustment/6% over life of
loan.
*JUMBO RATES AVAILABLE FOR MORTGAGES $417,001.00 TO
$500,000.00. CALL FOR OUR CURRENT RATES. Maximum LTV =
90%. PMI required on loans over 80% LTV. 1 - 4 family
owner occupied properties only. CONDOMINIUMS - 30% DOWN
PAYMENT REQUIRED ** APR=Annual Perccentage Rate. The rates
quoted are accurate as of the date indicated and are
subject to change. Terms are dependent upon amount
financed. Rates shown above are for members with the best
credit profile. Other rates are available, based on your
credit score.
Home Equity Line of Credit (HELOC's)
| INITIAL RATE FOR TWELVE (12) MONTHS*
| PRIME MINUS .25% FOR LIFE*
| POINTS
|
| 2.99% APR**(as low as)
| 3.75% APR **(as low as)
| 0.00
|
|
|
|
|
|
|
|
|
|
|
|
|
No Points, No Closing Costs and No Annual Fee. *After the
introductory term of twelve months the Annual Percentage
Rate (APR) is variable and based on the prime rate as most
recently published in the Wall Street Journal at the
beginning of the month (currently 4.00%), minus .25% for
the life of the loan.The maximum lifetime interest rate is
18%. 1-4 family owner occupied properties only. Property
insurance required. We will lend to 60% of the assessed
value or 80% of an appraisal.Maximum LTV on condos or
townhouses is 70%. If an appraisal is required the
applicant will pay the cost of $250.00 - $500.00. If you
cancel the line of credit anytime within the first 36
months, you will be required to reimburse us for any
closing costs we paid but no more than $500.00. Rewrites
of existing BCU Home Equity Lines of Credit or Home Equity
Loans are not eligible for intro rate. **APR=Annual
Percentage Rate. The rates are accurate as of the date
indicated and are subject to change. Terms are dependent
upon amount financed. Rates shown above are for members
with the best credit profile. Other rates are available,
based on your credit score.
Home Equity Loan
| |
INTEREST RATE
|
APR** (as low as)
|
Payments per thousand per month
|
|
5 Year
|
5.74%
|
5.74%
|
$19.21
|
|
7 Year
|
5.875%
|
5.875%
|
$14.55
|
|
10 Year
|
6.125%
|
6.125%
|
$11.16
|
|
15 Year
|
6.375%
|
6.375%
|
$8.64
|
No Points or Closing Costs. We will lend to 60% of the
assessed value or 80% of an appraisal. If an appraisal is
required the applicant will pay the cost of $250.00. If
you cancel the loan anytime within the first 36 months,
you will be required to reimburse us for any closing costs
we paid but not more than $500.00. 1-4 family owner
occupied properties only. Property Insurance required.
Rewrites of existing BCU Home Equity Lines of Credit or
Home Equity Loans are not eligible. Maximum LTV on condos
or townhouses is 70%. **APR=Annual Percentage Rate. The
rates quoted are accurate as of the date indicated and are
subject to change. Terms are dependent upon amount
financed. Rates shown above are for members with the best
credit profile. Other rates are available, based on your
credit score.
All rates are subject to change.
Rate Sheet #0001,
updated by FR,
Nov. 5, 2008
