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Construction Loan Rates |
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30 year - Residential Mortgage |
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FIXED |
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Payments do not include taxes and insurance. Your payment may be greater. |
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Monthly Payment |
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Rate |
Points |
APR |
Per $1,000 |
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5.000% |
2.00 |
5.428% |
$5.37 |
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5.375% |
0.25 |
5.664% |
$5.60 |
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5.500% |
0.00 |
5.773% |
$5.68 |
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APR assumes 10% down payment on $100,000 for terms
stated above as 11/18/09. Single Family Only. |
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Maximum Loan Amount $417,000 for above conforming
rates. Minimum Down Payment 30%. |
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Fees: Application Fee: $410.00
Inspection Fees: $320.00 |
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Doc/Prep Review Fee: $275.00 Flood Certification
Fee: $13.00 |
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BI - WEEKLY |
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with a
Chelsea Groton Savings Account EFT* |
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available if you do not have a Chelsea Groton Bank savings account. |
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Payments do not include taxes and insurance. Your payment may be greater. |
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Number of |
Bi-Weekly Payment |
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Rate |
Points |
APR |
Payments |
Per $1,000 |
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5.375% |
2 |
5.893% |
650 |
$2.80 |
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5.875% |
0 |
6.214% |
640 |
$2.96 |
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APR assumes 10% down payment on $100,000 for terms
stated above as 11/18/2009. Single Family Only. |
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Maximum Loan Amount $417,000 Minimum Down Payment
30%. |
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Fees: Application Fee: $410.00
Inspection Fees: $320.00 |
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Doc/Prep Review Fee: $275.00 Flood Certification
Fee: $13.00 |
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ADJUSTABLE |
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If you are interested in Adjustable Rate Mortgage
Products, please visit www.chelseagroton.com for detailed information. |
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Please call any of our full service branch
locations, or a mortgage specialist at (860) 448-4174 for personalized
service. |
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Private mortgage insurance is required for loans
with less than 20% downpayment. |
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We
also offer wide variety of other mortgage products and terms, jumbo loans,
land loans, seasonal and |
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second home loans and loans on non-owner occupied
properties. Ask us for details. |
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*Other rates are available if you do not have a
Chelsea Groton Bank savings account. |
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Please see the second page for information about our
construction mortgages. |
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FDIC Equal Housing Lender Effective 11/18/09 Last Revision 11/03/09 www.chelseagroton.com |
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ALL RATES, TERMS AND CONDITIONS SUBJECT TO CHANGE.
SUBJECT TO CREDIT APPROVAL |
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PERMANENT |
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CONSTRUCTION MORTGAGES |
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Use any of
our adjustable rate or select fixed rate mortgages. Pay interest only on the |
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amounts
disbursed during the construction period. When the house is complete, just |
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start making
regular monthly payments: no second closing required. We can lend up to |
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80% (85%) of
the combined cost of the land and the cost to construct or 80% (85%) of the |
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appraised
value, whichever is less. The purchase of a lot can be included in the
mortgages, or |
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if the land
is owned free and clear, it may be used towards the down payment. |
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85% CONSTRUCTION LOAN |
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Now available from |
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Chelsea Groton Bank |
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Rate: See reverse side
for 15% down payment loans. |
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Type of Loan: Any 5/1/ ARM |
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Jumbo Fixed Rate |
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Eligible Properties: Single Family |
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Primary Residence Only |
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Maximum
Loan: ARM $650,000 |
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Jumbo Fixed
$650,000 |
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Private mortgage insurance is required. Ask for
different payment options. |
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Disbursement: Loan will be
disbursed up to 80% during |
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construction. Some other restrictions apply. |
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Special Condition:
The 85% construction loan is available only for the |
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borrower who is under contract with a builder. |
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Some other restrictions apply. |
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