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All rates effective 9/22/2017

Mortgage Rates

Conventional Financing (purchase, refinance or construction/permanent)

 
Term Rate APR*

10 Years

3.125%

3.229%

15 Years

3.125%

3.196%

20 Years

3.625%

3.681%

30 Years

4.000%

4.041%

*Annual Percentage Rate. Rates stated above apply to qualified borrowers with a minimum representative credit score of 720 and a maximum loan to value of 80%.   Different rates may apply to borrowers with different scores and loan to value. With 20% down payment, $100,000.00 for 15 year term fixed at 3.196% APR would be $696.61 per month and have a finance charge of $25,390. Payment does not include amount for taxes and insurance premiums. Actual payment obligation may be greater. Must be credit qualified. Program subject to change. 

Non-Conforming Properties


Non-conforming properties do not need to be able to be occupied year round, and do not require all standard mechanical systems (Permanent heat, plumbing, electricity)

Term

Rate

APR*

10 Year

3.375%

3.408%

15 Year

3.375%

3.447%

20 Year

3.875%

3.931%

30 Year

4.250%

4.291%

 *Annual Percentage Rate. Rates stated above apply to qualified borrowers with a minimum representative credit score of 720 and a maximum loan to value of 80%.   Different rates may apply to borrowers with different scores and loan to values. With 20% down payment, $100,000.00 for 15 year term fixed at 3.447% APR would be $708.76 per month and have a finance charge of $27,577. Payment does not include amount for taxes and insurance premiums. Actual payment obligation may be greater. Must be credit qualified. Program subject to change.

Home Equity Rates

 
Term Rate APR*

HE Loan 5 Years

3.500%

3.500%

HE Loan 10 Years

3.750%

3.750%

HE Loan 15 Years

4.000%

4.000%

HE Loan 20 Years

4.500%

4.500%

HE Line of Credit

Prime

Prime

*Annual Percentage Rate. Rates stated above apply to qualified borrowers with a minimum representative credit score of 720 and a maximum loan to value of 80%.   Different rates may apply to borrowers with different scores and loan to values. Rate shown for first lien position only.  For home equity lines of credit and loans Patriot Federal Bank pays all closing costs except the borrower's share of mortgage tax.  If the loan is paid off within 3 (three) years of closing the borrower is responsible for paying the bank back for these costs. These costs may range from $0-2,500.00 but average $750.00. A $50,000.00 Home Equity Loan 10 year repayment at 3.750% APR would have a $500.31 monthly payment and a total finance charge of $10,037.00 Home Equity Line of Credit rate is determined by adding 0.5000% to the prime rate published in the Wall Street Journal which is then reduced 0.5000% when payment is automatically deducted from a Patriot Federal Bank deposit account. The maximum APR for HELOC is 15.000%  Offer of credit subject to approval.  Program subject to change.