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ADJUSTABLE RATE MORTGAGES



Rates Effective: April 14, 2008

Featured Rate:
See BelowAPR
5/1yr. ARM


Type Term Interest Rate Points APR Payment Per $1,000 Subsequent Payments
3/1-yr. ARM 30-yr. 5.500% 0 6.61% 36@$5.68 324@$6.58
5/1-yr. ARM 30-yr. 5.750% 0 6.48% 60@$5.84 300@$6.55
7/1-yr. ARM 30-yr. 6.000% 0 6.48% 84@$6.00 276@$6.54

Available for 1-4 Family Owner Occupied Residences. Other Terms Available, Construction Loans/No Inspection fees, one closing permanent loan, Condos - (not to exceed 75%LTV), Investment Property (add 1% to interest rates listed), Land (not to exceed 60%LTV) (add 1% to interest rates listed), Jumbo Loans $500,000 or more add .25%. 1 & 2 point rates available. All adjustable rates are subject to increase after consummation.

 

 

FIRST TIME HOME-BUYER



Rates Effective: April 14, 2008

Featured Rate:
See BelowAPR
5/1-yr. Discounted ARM


Type Term Interest Rate Points APR Payment Per $1,000 Subsequent Payments
3/1-yr. Discounted ARM 30-yr. 5.500% 0 6.61% 36@$5.68 324@$6.58
5/1-yr. Discounted ARM 30-yr. 5.750% 0 6.48% 60@$5.84 300@$6.55
7/1-yr. Discounted ARM 30-yr. 6.600% 0 6.48% 84@$6.00 276@$6.54

Available for first time homebuyers for the purchase of One to Four family Owner Occupied Residences; Minimum down payment of 10%; Qualifying income ratios: 32% and 40%; Maximum Loan Amount $375,000. All adjustable rates are subject to increase after consummation. NO CLOSING COSTS

 

 

FIXED RATE MORTGAGES - In House



Rates Effective: April 14, 2008

Featured Rate:
5.769%APR
10-yr. Fixed


Type Term Interest Rate Points APR Payment Per $1,000
10-yr. Fixed 10-yr. 5.750% 0 5.769% 120@$10.98
15-yr. Fixed 15-yr. 6.000% 0 6.014% 180@$8.44

Rates subject to change.

 

 

FIXED RATE MORTGAGES - Sold


Rates Effective: April 14, 2008

Featured Rate:
6.008%APR
30-yr. Fixed


Type Term Interest Rate Points APR Payment Per $1,000
30-yr. Fixed 30-yr. 6.000% 0 6.008% 360@$6.00
15-yr. Fixed 15-yr. 5.750% 0 5.764% 180@$8.31

Rate Changes Daily. Owner-occupied 1-4 family properties. Loan limits 1-family $417,000, 2-family $533,850, 3-family $645,300 and 4-family $801,950. Loans serviced by Gloucester Cooperative Bank.