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Interest rates are subject to change at any time without notice.

Rates Effective: 10/22/2020

PAYMENTS DO NOT INCLUDE TAXES AND INSURANCE AND THEREFORE THE PAYMENT OBLIGATION WILL BE GREATER.

FIRST MORTGAGE LOANS

  Rate Points (%) APR* $ PER $1000
Conforming Rates (Loan amounts $510,400 or less)(1)  
30 Year Fixed 3.125% 0 3.184% $4.28
359 payments of $1,178.03 and 1 payment of $1,179.57 on a loan amount of $275,000.00
15 Year Fixed 2.750% 0 2.853% $6.79
179 payments of $1,866.21 and 1 payment of $1,866.08 on a loan amount of $275,000.00
8 Year Turbo 2.50% 0 2.769% $11.58
95 payments of $3,163.56 and 1 payment of $3,163.22 on a loan amount of $275,000.00
Jumbo Rates (Loan amounts over $510,400; up to $1,000,000)(1)  
30 Year Fixed 3.25% 0 3.291% $4.35
359 payments of $2,393.63 and 1 payment of $2,396.36 on a loan amount of $550,000.00
15 Year Fixed 2.875% 0 2.944% $6.85
179 payments of $3,765.22 and 1 payment of $3,765.51 on a loan amount of $550,000.00

 

Please contact a loan officer for pricing on loans over $1,000,000.

HOME EQUITY LOANS AND LINES OF CREDIT

  Rate Points (%) APR* $ PER $1000
Home Equity Loans (Loan amounts up to $300,000)(2)‚Äč  
5 Year Fixed 3.240% 0 3.240% $18.08
           $451.89 per $25,000 for 60 months at 3.240% APR
7 Year Fixed 3.625% 0 3.625% $13.50
           $337.42 per $25,000 for 84 months at 3.625% APR
10 Year Fixed 3.750% 0 3.750% $10.01
           $250.15 per $25,000 for 120 months at 3.750% APR
15 Year Fixed 3.990% 0 3.990% $7.39
          $184.80 per $25,000 for 180 months at 3.990% APR
Home Equity Lines of Credit (line amounts up to $300,000)(3)  
Line of Credit - 10 Year Draw, 15 Year Repayment 2.740% 0 2.740%  
   Prime Rate minus .51%

 

Please contact a loan officer for pricing on loans over $300,000.


*Annual Percentage Rate

Important Loan Information
First Mortgage Loans (1)

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.

Home Equity Loans (2) Annual Percentage Rate (APR) and rate(s) posted are indications only and are subject to change without notice and your actual rate may be different based on the factors specific to your loan. Qualification is subject to credit, underwriting and property approval; not all applicants will qualify. An escrow (impound) account may be required. Property insurance is required and flood insurance may be required. Property cannot be listed for sale. 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 terms from 60 to 180 months; and loan amounts of $5,000 to $300,000. A pre-payment penalty will apply if the loan is closed and discharged within 3 years of activation. For CT properties, the prepayment penalty for first 2 years of activation is 2% of the outstanding balance; the third year prepayment fee is 1% of the outstanding balance. For RI properties, the prepayment penalty for the first 12 months of activation is 2% of the outstanding 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.
Home Equity Lines of Credit (3) 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 10 months with the APR being 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.
Rate Page Reminders: (Member FDIC/Equal Housing Lender) Chelsea Groton Bank NMLS ID: 402928

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Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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You are now leaving Chelsea Groton Bank's Website.

Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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