|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction Loan Rates |
|
30 year - Residential Mortgage |
|
|
|
|
FIXED |
|
|
|
|
|
|
Monthly Payment |
|
|
|
Rate |
Points |
APR |
Per $1,000 |
|
|
|
5.500% |
2.00 |
5.966% |
$5.68 |
|
|
|
5.875% |
0.25 |
6.197% |
$5.92 |
|
|
|
6.000% |
0.00 |
6.306% |
$6.00 |
|
|
APR assumes 10% down payment on $100,000 for terms
stated above as 06/30/09. Single Family Only. |
|
|
Maximum Loan Amount $417,000 for above conforming
rates. Minimum Down Payment 15%. |
|
|
Fees: Application Fee: $410.00
Inspection Fees: $320.00 |
|
|
Doc/Prep Review Fee: $275.00 Flood Certification
Fee: $13.00 |
|
|
|
|
|
|
BI - WEEKLY |
|
|
|
with a
Chelsea Groton Savings Account EFT* |
|
| *Other rates are
available if you do not have a Chelsea Groton Bank savings account. |
|
|
|
|
|
Number of |
Bi-Weekly Payment |
|
|
|
Rate |
Points |
APR |
Payments |
Per $1,000 |
|
|
|
5.875% |
2 |
6.440% |
640 |
$2.96 |
|
|
|
6.375% |
0 |
6.755% |
630 |
$3.12 |
|
|
APR assumes 10% down payment on $100,000 for terms
stated above as 06/30/2009. Single Family Only. |
|
|
Maximum Loan Amount $417,000 Minimum Down Payment
15%. |
|
|
Fees: Application Fee: $410.00
Inspection Fees: $320.00 |
|
|
Doc/Prep Review Fee: $275.00 Flood Certification
Fee: $13.00 |
|
|
|
|
|
|
ADJUSTABLE |
|
|
|
|
|
|
If you are interested in Adjustable Rate Mortgage
Products, please visit www.chelseagroton.com for detailed information. |
|
|
Please call any of our full service branch
locations, or a mortgage specialist at (860) 448-4174 for personalized
service. |
|
|
|
|
|
Private mortgage insurance is required for loans
with less than 20% downpayment. |
|
|
|
|
|
We
also offer wide variety of other mortgage products and terms, jumbo loans,
land loans, seasonal and |
|
|
second home loans and loans on non-owner occupied
properties. Ask us for details. |
|
|
|
|
|
*Other rates are available if you do not have a
Chelsea Groton Bank savings account. |
|
|
|
|
|
Please see the second page for information about our
construction mortgages. |
|
|
| Member
FDIC Equal Housing Lender Effective 06/30/09 Last Revision 06/17/09 www.chelseagroton.com |
|
|
|
|
|
|
ALL RATES, TERMS AND CONDITIONS SUBJECT TO CHANGE.
SUBJECT TO CREDIT APPROVAL |
|
|
|
|
|
|
|
|
|
|
|
PERMANENT |
|
|
CONSTRUCTION MORTGAGES |
|
|
|
|
|
Use any of
our adjustable rate or select fixed rate mortgages. Pay interest only on the |
|
|
amounts
disbursed during the construction period. When the house is complete, just |
|
|
start making
regular monthly payments: no second closing required. We can lend up to |
|
|
80% (85%) of
the combined cost of the land and the cost to construct or 80% (85%) of the |
|
|
appraised
value, whichever is less. The purchase of a lot can be included in the
mortgages, or |
|
|
if the land
is owned free and clear, it may be used towards the down payment. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
85% CONSTRUCTION LOAN |
|
|
|
|
|
Now available from |
|
|
|
|
|
Chelsea Groton Bank |
|
|
|
|
|
Rate: See reverse side
for 15% down payment loans. |
|
|
Type of Loan: Any ARM and Convertible 1-year ARM
and |
|
|
Special Fixed Rate and Biweekly Loans |
|
|
Eligible Properties: Single Family |
|
|
Primary Residence Only |
|
|
Maximum
Loan: ARM $650,000 |
|
|
Convertible & Fixed
$417,000 |
|
|
Jumbo Fixed
$650,000 |
|
|
|
|
|
Private mortgage insurance is required. Ask for
different payment options. |
|
|
|
|
|
Disbursement: Loan will be
disbursed up to 85% during |
|
|
construction. Some other restrictions apply. |
|
|
Special Condition:
The 85% construction loan is available only for the |
|
|
borrower who is under contract with a builder. |
|
|
Some other restrictions apply. |
|
|
|
|
|
|
|
|
|
|
|
|
