Charter Oak Federal Credit Union
Mortgage Rates
Effective September 07, 2010 at 10:00 AM
| ACCELERATOR MORTGAGE - NO Closing Costs!* | |
| 8 Year | Rates as low as 3.750% APR* |
| 12 Year | Rates as low as 3.875% APR |
| Click here for Accelerator Mortgage details | |
| COST SAVER MORTGAGE - NO Closing Costs!* | |
| 15 Year | Rates as low as 4.125% APR |
| 30 Year | Rates as low as 5.125% APR |
| Click here for Cost Saver Mortgage details | |
Rate lock expiration: 10/22/2010 / Rates subject to change without notice
*A non-refundable Origination fee of $350 is required. This program is for refinances of single-family owner occupied detached dwellings and condominiums in FHLMC approved projects located in Connecticut and Rhode Island only. Minimum loan amount $25,000 and a maximum of $250,000. The borrower is responsible for any fees or costs charged or required by their current lender to have the loan refinanced with Charter Oak. Additional costs will apply for mortgages titled in the name of a trust. Borrower is responsible for property insurance and pre-paid interest. Charter Oak requires escrows for taxes and if applicable, flood insurance. To earn the lowest rate you must have an excellent credit history and the maximum loan to value cannot exceed 80% of the property value.
CONVENTIONAL MORTGAGE
| Term | Points | Rate | APR* | Monthly Payment per $1000 |
| 10 YR FIX | ||||
| 2.000 | 3.375% | 3.802% | $9.83 | |
| 1.000 | 3.500% | 3.713% | $9.89 | |
| 0.000 | 3.625% | 3.625% | $9.95 | |
| 15 YR FIX | ||||
| 2.000 | 3.500% | 3.795% | $7.15 | |
| 1.000 | 3.625% | 3.772% | $7.21 | |
| 0.000 | 3.750% | 3.750% | $7.27 | |
| 30 YR FIX | ||||
| 2.000 | 4.125% | 4.294% | $4.85 | |
| 1.000 | 4.250% | 4.335% | $4.92 | |
| 0.000 | 4.500% | 4.500% | $5.07 | |
ADJUSTABLE RATE MORTGAGE
| Term | Points | Rate | APR* | Monthly Payment per $1000 |
| 1/1 ARM |
||||
| 2.000 | 3.125% | 3.285% | $4.28 | |
| 0.000 | 3.500% | 3.500% | $4.49 | |
| 3/1 ARM | ||||
| 2.000 | 3.375% | 3.537% | $4.42 | |
| 0.000 | 3.750% | 3.750% | $4.63 | |
| 5/1 ARM | ||||
| 2.000 | 3.625% | 3.789% | $4.56 | |
| 0.000 | 4.000% | 4.000% | $4.77 | |
Caps: 2% +/- per adjustment period. 6% lifetime.
Margin: Owner Occupied 2.75% / Non-Owner Occupied 3.25%
Second / Vacation Homes (excluding time shares): Add 0.50%
1 - 4 family non-owner occupied detached dwellings: Add 0.75%
*APR = Annual Percentage Rate
Rate lock expiration: 11/08/2010 / Rates subject to change without notice
Conventional and Adjustable Rate Mortgage Origination Fee: $350
