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EFFECTIVE DATE 7/16/10
| Fixed Rate Mortgage (Owner Occupied, Conforming Mortgage Products) |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
| 30 Years |
4.750% |
0 |
4.89% |
$5.22 |
| 30 Years |
4.500% |
1 |
4.73% |
$5.07 |
| 30 Years |
4.250% |
2 |
4.58% |
$4.92 |
| 20 Years |
4.250% |
0 |
4.44% |
$6.19 |
| 15 Years |
3.875% |
0 |
4.11% |
$7.33 |
| 15 Years |
3.625% |
1 |
4.02% |
$7.21 |
| 15 Years |
3.375% |
2 |
3.92% |
$7.09 |
| 10 Years |
3.750% |
0 |
4.09% |
$10.01 |
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| Fixed Rate Construction Mortgage (Construction To Permanent) |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
| 30 Years |
5.000% |
0.5 |
5.47% |
$5.37 |
| 30 Years |
4.750% |
1.5 |
5.31% |
$5.22 |
| 30 Years |
4.500% |
2.5 |
5.16% |
|
| 20 Years |
4.500% |
0.5 |
5.01% |
$6.33 |
| 15 Years |
4.125% |
0.5 |
4.64% |
$7.46 |
| 15 Years |
3.875% |
1.5 |
4.54% |
$7.33 |
| 15 Years |
3.625% |
2.5 |
4.31% |
|
| 10 Years |
4.000% |
0.5 |
4.54% |
$10.12 |
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| Adjustable Rate Mortgage (30 Year Amortization Reflected) |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
1 Year - 12 mths
Disclosure 348 mths |
3.250%
3.125% |
0
0 |
Blended
3.26% |
$4.35
$4.28 |
3/1 Year - 36 mths
Disclosure 324 mths |
3.500%
3.125% |
0
0 |
Blended
3.29% |
$4.49
$4.28 |
5/1 Year - 60 mths
Disclosure 300 mths |
4.250%
3.125% |
0
0 |
Blended
3.44% |
$4.92
$4.28 |
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| Adjustable Rate Construction Mortgage (Construction To Permanent) |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
1 Year - 12 mths
Disclosure 348 mths |
3.250%
3.125% |
0.5 |
Blended
3.32% |
$4.35
$4.28 |
3/1 Year - 36 mths
Disclosure 324 mths |
3.500%
3.125% |
0.5 |
Blended
3.35% |
$4.49
$4.28 |
5/1 Year - 60 mths
Disclosure 300 mths |
4.250%
3.125% |
0.5 |
Blended
3.50% |
$4.92
$4.28 |
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| Investment Mortgage |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
| 30 Year Fixed |
5.000% |
2 |
5.34% |
$5.37 |
| 15 Year Fixed |
4.125% |
2 |
4.69% |
$7.46 |
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| Portfolio Mortgage (Non-Conforming 1-4 Family, 30 Year Amortization Reflected) |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
1 Year Adjustable
2/6 Caps
1 Year Treasury |
3.125% |
1 |
3.23% |
$4.28 |
1 Year Adjustable
Investment |
3.125% |
3 |
3.47% |
$4.28 |
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| Jumbo Mortgage (Fixed Rate, Loan To Value 75% Or Less) |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
| 30 Year |
5.000% |
0 |
5.10% |
$5.37 |
| 15 Year |
4.125% |
0 |
4.36% |
$7.46 |
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| Jumbo Construction Mortgage (Fixed Rate, Loan To Value 75% Or Less) |
| Term |
Rate |
Points |
APR |
Payment Per $1000 Borrowed |
| 30 Year |
5.250% |
1 |
5.65% |
$5.52 |
| 15 Year |
4.375% |
1 |
4.88% |
$7.59 |
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For Further Information Please Call:
Paul M. Mulligan, SVP and Retail Loan Manager, Newport (401) 847-5500
Mildred Dion, VP/Branch Manager, Stonington, CT (860) 599-1809
Maria Morrison-Barr, VP and Branch Manager, Newport (401) 847-5500
Donna Manning, VP and Branch Manager, Middletown (401) 847-9900
Sue Ann Votta, VP and Branch Manager, Wakefield (401) 789-9200
Frankie Algiere, VP/Branch Manager, Wilder Ave., (401) 596-5353
Kara M. Marley, Branch Manager, Portsmouth (401) 643-6000
Also Available - "B" & "C" Mortgage Products, call Paul for details
Ask About Newport Federal Savings Bank’s 1 Point 1 Closing Construction/Permanent Loan
The above conforming loan rates assume a 20% downpayment on a loan amount of $100,000. Conforming loan rate maximums are as follows (RI Market): owner-occupied single family dwelling - $ 426,650 ; two family - $ 546,200 ; three family - $ 660,200 ; four family - $ 820,500 . If the downpayment is less than 20%, mortgage insurance may be needed, which would increase the APR. Investment property mortgages require a 30% downpayment, while Jumbo financing requests (loan requests in excess of the above-listed dollar maximums) require a 25% downpayment. All loans are subject to credit approval. Adjustable rate and loan payment may increase after consummation of any adjustable rate mortgage. Property and Flood insurance may be required. Sample loan payments do not include either taxes or insurance which would result in a higher monthly payment.
Adjustable-Rate Mortgages (ARMs) feature an interest rate which adjusts periodically with changing market rates. NewportFed utilizes the average yield on U.S. Treasury securities adjusted to a constant maturity of 1 year plus a fixed margin of 2 and 3/4 (or 2.75%) percent. Typically, the maximum amount your rate can increase or decrease per adjustment period is 2%, and over the life of the loan, 6%.
More information on any of our products and services can be requested through e-mail (warning: do not send confidential information via email) or by calling us at (401) 847-5500.
Rates and terms are subject to change without notice.
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| NewportFed, 100 Bellevue Avenue, Newport, RI 02840 __ Telephone: 401.847.5500__ © 2008 NewportFed. All rights reserved.__ Member FDIC |
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_Equal Housing Lender |
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