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*This rate reflects a .50% discount for an automatic payment from a NVSL account.
There is a pre-payment penalty of 1% of the amount of the loan or $300 which ever is greater, if the loan is closed in the first 12 months.
Example: A $10,000.00 loan for 5 years at an Annual Percentage Rate (APR) of 4.50% will have 60 monthly payments of $186.43. A $10,000.00 loan for 10 years at an APR of 5.125% will have 120 monthly payments of $106.68. A $10,000.00 loan for 15 years at an Annual Percentage Rate (APR) of 5.75% will have 180 monthly payments of $83.04. A $10,000.00 loan for 20 years at an APR of 6.00% will have 240 monthly payments of $71.64. |
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The Annual Percentage Rate (APR) is variable and may change monthly based on the highest Prime Rate as published in the Wall Street Journal on the last business day of the month minus a margin of 1.00%. As of April 30, 2008 Prime -1.00% is an APR of 4.00%. There is a maximum rate cap of 18%, a minimum rate floor of 4%, a per check minimum of $250.00, a $50 annual fee waived for the first year, and a prepayment penalty of 1% of the credit limit or $300, which ever is greater if the line of credit is closed in the first 3 years. Offer is valid up to 75% of the value of owner occupied one to four family fee simple properties and approved condominiums located in Connecticut to a maximum of $200,000. Maximum Loan to Value rato will not exceed 70% when the combined mortgage debt exceeds $417,000.00. When the combined mortgage debt exceeds $417,000.00 the borrower will be responsible for the cost of the appraisal. Other rates and fees apply over $200,000 please ask. Hazard insurance is required as is flood insurance where necessary. These rates are subject to change without notice. |
