Monthly Principal &
|30 Year Fixed Rate||7.125%||7.184%||0.000%||$2,021.16|
|15 Year Fixed Rate||6.750%
|30 Year Fixed FHA||7.000%||7.868%||0.000%||$2,030.84|
|Ready to Own||7.125%||7.184%||0.000%||$2,0121.16|
Effective Date: September 29, 2023
Assumptions and general disclosures
- Rates shown above require a Newtown Savings Bank checking account with auto deduction payment (excluding FHA).
- The information provided assumes the purpose of the loan is to purchase a property.
- The property is an existing single family home and will be used as a primary residence.
- The rate lock period is 60 days.
- The credit score is 780 or above.
- The loan amount is $300,000 with an estimated property value of $400,000.
- The Interest Rate and Annual Percentage Rate (APR) shown above are subject to change without notice.
- The Annual Percentage Rate (APR) will vary based on your final loan amount and actual finance charges.
- Payment does not include real estate taxes, homeowner's insurance premiums or mortgage insurance premiums. If applicable, the actual payment obligation will be greater.
- Loans are subject to credit and property approval.
- Other rates and terms available.
- Total loan amount is $305,250. The base loan amount is $300,000.
- The total loan amount includes the Upfront Mortgage Insurance Premium of 1.75% of the base loan amount.
- Annual Mortgage Insurance Premiums will be required for 11 years and charged monthly. If the down payment is less than 10% mortgage insurance is required for the life of the loan. The amount is not included in the monthly payment example shown above.
Ready to Own
- This program is specifically tailored to meet the needs of first-time home buyers or those who have not owned a home for a period of three years.
- Learn more about First-Time Homebuyer Mortgages.
- This program is designed to meet the needs of homebuyers in low to moderate income areas. Contact a Mortgage Banker to see if you qualify.