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Interest rates are subject to change at any time without notice.
Rates Effective: 9/28/2021
Please contact a loan officer for pricing on loans over $1,000,000.
Please contact a loan officer for pricing on loans over $300,000.
*Annual Percentage Rate
Annual Percentage Rate (APR) and rate(s) posted are indications only and are subject to change without notice and your actual rate and/or points may be different based on the factors specific to your loan. Rates shown are for Home Purchase transactions. Qualification is subject to credit, underwriting and property approval; not all applicants will qualify. Property insurance is required and flood insurance may be required. An escrow (impound) account may be required. Other restrictions may apply. Assumes purchase on existing primary residence 1-to-4 family home held in the name of the borrower(s) located in CT or RI. Conforming rates assume a loan amount of $275,000, no subordinate financing, and an estimated property value of $459,000 (loan to value of 60.00%); a minimum credit score of 740. Jumbo rates assume a loan amount of $550,000, no subordinate financing, and an estimated property value of $930,000 (loan to value of 60.00%); a minimum credit score of 740. Rate lock period is 60 days. Other rates and terms available. Other restrictions may apply and this offer is subject to change without notice.
Annual Percentage Rate (APR) will be variable for the life of the loan. Qualification is subject to credit, underwriting and property approval; not all applicants will qualify. Property insurance is required and flood insurance may be required. Property cannot be listed for sale. Other restrictions may apply. Offer valid only in CT and RI. Assumes loan is for owner-occupied 1-to-4 family homes located in CT or RI held in the name of the borrower(s) with a minimum 20% equity; loan amounts of $5,000 to $300,000. The interest-only draw period is 9 years and 8 months, followed by a 2 month interest-accruing Conversion Period. APR is based on the highest United States Prime Rate as published in the Eastern Edition of the Wall Street Journal preceding the start of each monthly billing period (3.25% as of 03/17/2020) minus -.51. The rate will never be less than the initial rate effective at closing nor more than the lesser of 18% or the maximum permitted by applicable state law. The repayment period is approximately 15 years; during the repayment period, the interest rate is subject to adjustment annually and will be calculated by adding a margin of 3.75% to the value of a U.S. Treasury Securities Index. Monthly payments of interest only during the draw period may cause your monthly payment to increase, possibly substantially, once your credit line transitions into the repayment period. Annually, for each period of twelve months during which there are no transactions posted to this account, you will be charged an Inactivity Fee of $50.00. A prepayment penalty will apply if line is closed and discharged within 36 billing cycles for CT properties, 12 billing cycles for RI properties. CT prepayment fee for 1st 24 complete billing cycles is 2% of line credit limit, next 12 complete billing cycles it is 1% of line credit limit. RI prepayment fee for 1st 12 complete billing cycles is 2% of the outstanding line of credit balance. Contact the Bank for home equity loans without prepayment penalties. No Chelsea Groton application fee, nor closing costs apply. Other restrictions may apply and this offer is subject to change without notice.
ABA/Routing number: 211173357
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