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Mortgage Loans
Rates as of October 11, 2016

Term Interest Rate Annual Percentage Rate Points
10/1 ARM 3.50% 3.57% 0.00
7/1 ARM 3.25% 3.31% 0.00
5/1 ARM 3.00% 3.06% 0.00
3/3 ARM 2.75% 2.81% 0.00
30 Year Fixed 3.500% 3.574% 0.00
20 Year Fixed 3.250% 3.352% 0.00
15 Year Fixed 2.750% 2.880% 0.00

Interest rate and annual percentage rate (APR) listed are as of the date shown and are subject to change without notice. The APR calculation assumes a $100,000 loan for the term shown and borrower paid finance charges and closing fees totaling approximately $906.00.

An Adjustable Rate Mortgage, or ARM, contains a variable rate feature which provides that the interest rate and payment and/or terms of the loan can change.  After the initial fixed period, the amount of the monthly payment may increase. A $100,000 10/1 ARM loan, at an interest rate of 3.75%, could have a monthly payment of $463.12 for 360 months.

A fixed rate mortgage features an interest rate that will not change during the term of your loan, and the monthly payment will remain consistent for the term of the loan. A $100,000 15 year loan, at a fixed interest rate of 3.25%, could have a monthly payment of $702.67 for 180 months.

Your monthly payment may vary, and may include homeowner’s insurance and/or property taxes which could increase your monthly payment.   All loans are subject to credit approval. Property type restrictions and other limitations apply. Contact the Bank for more information.

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Low Rate Adjustable Rate Mortgages

Oct 11, 2016

With an adjustable-rate mortgage, you benefit from an initial interest rate that may be lower than the rate on a fixed-rate mortgage. Our 3/3, 5/1, 7/1 and 10/1 ARMs offer the stability of a lower initial rate that is set for a period of three, five, seven or ten years before the adjusting period begins.