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 August 25, 2010
Fixed Rate Mortgages - Up To $417,000.00*
| 10 Year Term
| INTEREST RATE
| POINTS
| APR** (as low as)
| Payments per thousand per month
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| 3.75%
| 0.00
| 3.77%
| $10.01
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| 15 Year Term
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| 4.00%
| 0.00
| 4.01%
| $7.40
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| 3.875%
| 1.00
| 4.03%
| $7.33
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| 20 Year Term
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| 4.625%
| 0.00
| 4.64%
| $6.39
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| 4.50%
| 1.00
| 4.63%
| $6.33
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| 30 Year Term - call for rates
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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)
|
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1 Year ARM
| 4.00%
| 0.00
| 2.75
| 3.08%
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30 Year Term
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INITIAL RATE
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POINTS
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MARGIN
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APR** (as low as)
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3 Year ARM
| 4.25%
| 0.00
| 2.75
| 3.87%
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30 Year Term
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INITIAL RATE
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POINTS
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MARGIN
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APR** (as low as)
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5 Year ARM
| 4.50%
| 0.00
| 2.75
| 4.51%
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30 Year Term
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INITIAL RATE
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POINTS
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MARGIN
|
APR** (as low as)
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7 Year Fixed/3 Year ARM
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4.75%
|
0.00
|
2.75
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4.24%
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-1 Year ARM payments per thousand borrowed: $4.77. CAPS 2%
per adjustment/6% over life of loan. 3 Year ARM payments
per thousand borrowed: $4.92. CAPS 3% per adjustment/6%
over life of loan. 5 Year ARM payments per thousand
borrowed: $5.07. CAPS 3% per adjustment/6% over life of
loan. 7 Year Fixed/3 Year ARM payments per thousand
borrowed: $5.22. 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)
| PRIME MINUS .25% FOR LIFE*
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| POINTS
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| 3.00%APR** (as low as)
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| 0.00
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No Points and no Annual Fee. Recording fee will be paid by
applicant(s). * 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 3.25%), minus .25% for the life of
the loan, however the interest rate shall never fall below
3.00%.The maximum lifetime interest rate is 18%. 1-4
family owner occupied properties only. Property insurance
required. We will lend to 50% 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 $300.00 - $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. *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
|
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5 Year
|
5.74%
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5.74%
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$19.21
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7 Year
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5.875%
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5.875%
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$14.55
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10 Year
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6.125%
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6.125%
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$11.16
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15 Year
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6.375%
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6.375%
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$8.64
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No Points and no Annual Fee. Recording fee wil be paid by
applicant(s). We will lend to 50% of the assessed value or
80% of an appraisal. If an appraisal is required the
applicant will pay the cost of $300.00 - $500.00. 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, TERMS AND COSTS ARE SUBJECT TO CHANGE WITHOUT
NOTICE.
All rates are subject to change.
Rate Sheet #0001,
updated by FR,
Aug 25, 2010
