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Mortgage Rates


   as of 11/24/14
 

LOAN PRODUCT RATE APR MONTHLY PAYMENT
30-year Fixed Rate1,2
(Secondary Market)
4.250% 4.372% $590.33
20-year Fixed Rate1,2
(Secondary Market)
4.000% 4.166% $727.18
15-year Fixed Rate1,2
(Secondary Market)
3.500% 3.746% $857.86
10-year Fixed Rate1,2
(Secondary Market)
3.500% 3.883% $1,186.63
Home Equity Line3
of Credit (HELOC)
  3.750% See below
Close-End 2nd Mortgage4 6.000% 7.054% $111.02
5 Year ARM 2/6 Caps1,5 3.875% 3.336% $564.29


IMPORTANT NOTICES
Interest rates and Annual Percentage Rates (APRs) are based on current market rates, are for informational purposes only, and are subject to change without notice. Rate and APR may be adjusted based on several factors including, but not limited to, state of property location, loan amount, loan type, occupancy type, credit score, and loan-to-value. APR will vary based on your final loan amount and finance charges, including applicable fees, costs, and 15 days of prepaid interest. Estimated payments shown do not include amounts for taxes and insurance premiums; your actual payment obligation will be greater. Not a credit decision or a commitment to lend.

(1) Loan Assumptions – Secondary Market:

  • Loan amount $120,000
  • Single-family, owner-occupied residence
  • Rate/term refinance transaction
  • Loan-to-value 80%
  • Rate lock period of 60 days
  • Borrower profile with excellent credit


(2) Secondary Market products have a minimum loan amount of $40,000, and will not be serviced by Brotherhood Bank.

(3) HELOC (as of November 24, 2014) variable interest rate priced at Wall Street Journal Prime Rate plus 0.50% for the first year, then Prime plus 0.50% with a floor rate of 4.75% for remainder of the 10-year term. Rate plan will not exceed 18.00% APR (Annual Percentage Rate). Minimum monthly payments of interest-only. A balloon payment will result if interest only payments are made. Minimum credit line $10,000, maximum credit line $75,000. No prepayment penalty. WSJ Prime Rate 3.25%. No closing costs. Property insurance is required. Consult tax advisor regarding the deductibility of interest.

(4) Loan Assumptions – Closed-End 2nd Mortgage product:

  • Loan amount $10,000
  • Single-family, owner-occupied residence
  • 10-year term, fixed rate
  • Combined loan-to-value 80%
  • Rate lock period of 60 days
  • Borrower profile with excellent credit


(5) 5 Year ARM 2/6 Cap

Monthly Payment Schedule based on current market conditions would be:

  • 60 payments of $564.29 at an interest rate of 3.875%
  • 12  payments of $689.63 at an interest rate of  5.875%
  • 12 payments of $823.05 at an interest rate of  7.875%
  • 275 payments of $962.63 at an interest rate of 9.875%
  • 1 payment of $962.86 at an interest rate of 9.875%



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