Conventional Mortgage Loans for Primary & Secondary …

[Pages:2]09/09/2022

10:10 AM

Conventional Mortgages - for primary and second homes Serviced by NEFCU - 60 day lock period

Loan Term 30 Year 30 Year Low Cost* 20 Year 20 Year Low Cost* 15 Year 10 Year

Rate 5.875% 7.000% 5.625% 6.625% 5.375% 4.500%

Points 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

100% Financing - for primary home purchases

Serviced by NEFCU - 60 day lock period. 120 day lock period available with .5% rate markup.

Loan Term

Rate

Points

30 Year 100% Financing 7/1 ARM 100% Financing 1 YR T-Bill; Margin 2.875; Caps 2/5 10/1 ARM 100% Financing 1 YR T-Bill; Margin 2.875; Caps 2/5

6.000% 4.625% 4.875%

0.00% 0.00% 0.00%

Home Ownership Made Easier - for 1st time homebuyers

Serviced by NEFCU - 60 day lock period. 120 day lock period available with .5% rate markup.

Loan Term

Rate

Points

HOME Down Payment Assistance (DPA)

30 Year Fixed HOME DPA 7/1 ARM HOME DPA - 1 YR T-Bill; Margin 2.875; Caps 2/5 10/1 ARM HOME DPA - 1 YR T-Bill; Margin 2.875, Caps 2/5

6.000% 4.625% 4.875%

0.00% 0.00% 0.00%

HOME

5/1 ARM HOME - 1 YR T-Bill; Margin 2.875; Caps 2/5 5/5 ARM HOME - 5 YR T-Bill; Margin 2.75; Caps 2/5 7/1 ARM HOME - 1 YR T-Bill; Margin 2.875; Caps 2/5 10/1 ARM HOME - 1 YR T-Bill; Margin 2.875; Caps 2/5

4.375% 4.625% 4.625% 4.875%

0.00% 0.00% 0.00% 0.00%

Adjustable Rate Mortgages (ARM) - for primary homes

Serviced by NEFCU - 60 day lock period. 120 day lock period available with .5% rate markup.

Loan Term

Rate

Points

3/1 ARM 1 YR T-Bill; Margin 2.875; Caps 2/6

4.250%

0.00%

3/3 ARM 3 YR T-Bill; Margin 2.875; Caps 2/6

4.500%

0.00%

5/1 ARM 1 YR T-Bill; Margin 2.875; Caps 2/6

4.500%

0.00%

5/5 ARM 5 YR T-Bill; Margin 2.75; Caps 2/6

4.750%

0.00%

7/1 ARM 1 YR T-Bill; Margin 2.875; Caps 2/6

4.750%

0.00%

10/1 ARM 1 YR T-Bill; Margin 2.875, Caps 2/6

5.000%

0.00%

Products listed above available to second homes for a max term of 15 years and a rate reduction of .125%

15/15 ARM 10 YR T-Bill; Margin 2.875; Cap 6

5.750%

0.00%

Jumbo Mortgages - for primary homes

Serviced by NEFCU - 60 day lock period. 120 day lock period available with .5% rate markup.

Add .125% above $800,000 to $2,000,000. Approval needed above $2,000,000.

Loan Term

Rate

Points

30 Year Jumbo

6.000%

0.00%

20 Year Jumbo

5.750%

0.00%

15 Year Jumbo

5.500%

0.00%

10 Year Jumbo

4.625%

0.00%

5/1 ARM Jumbo 1 YR T-Bill; Margin 2.875; Caps 2/6 5/5 ARM Jumbo 5 YR T-Bill; Margin 2.75; Caps 2/6 7/1 ARM Jumbo 1 YR T-Bill; Margin 2.875; Caps 2/6 10/1 ARM Jumbo 1 YR T-Bill; Margin 2.875; Caps 2/6

4.500% 4.750% 4.750% 5.000%

0.00% 0.00% 0.00% 0.00%

15/15 ARM Jumbo 10 YR T-Bill; Margin 2.875; Cap 6

5.750%

0.00%

VA Mortgages Serviced by NEFCU - 60 day lock period

Loan Term 30 Year VA Min. loan amt $25k

Rate 5.250%

Points 0.500%

Champlain Housing Trust (CHT) Mortgages

Serviced by NEFCU - 60 day lock period. 120 day lock period available with .5% rate markup.

Loan Term

Rate

Points

30 Year CHT .125 rate mark up applies if loan not saleable to inv. 15 Year CHT .125 rate mark up applies if loan not saleable to inv.

5.875% 5.375%

0.00% 0.00%

7/1 ARM CHT - 1 YR T-Bill; Margin 2.875; Caps 2/5 10/1 ARM CHT - 1 YR T-Bill; Margin 2.875, Caps 2/5

4.625% 4.875%

0.00% 0.00%

APR 5.902% 7.029% 5.661% 6.662% 5.420% 4.563%

APR 6.027% 5.603% 5.532%

APR

6.027% 5.543% 5.453%

5.648% 5.562% 5.543% 5.453%

APR 5.875% 5.936% 5.694% 5.609% 5.603% 5.532%

5.852%

Payment Per $1,000 $5.92 $6.65 $6.95 $7.53 $8.10 $10.36

Payment Per $1,000 $6.00 $5.22 $5.37

Payment Per $1,000

$6.00 $5.14 $5.29

$4.99 $5.14 $5.14 $5.29

Payment Per $1,000 $4.92 $5.07 $5.07 $5.22 $5.22 $5.37

$5.84

APR 6.027% 5.786% 5.545% 4.688% 5.694% 5.609% 5.603% 5.532% 5.852%

APR 5.303%

APR 5.902% 5.420% 5.603% 5.532%

Payment Per $1,000 $6.00 $7.02 $8.17 $10.42 $5.07 $5.22 $5.22 $5.37 $5.84

Payment Per $1,000 $5.52

Payment Per $1,000 $5.92 $8.10 $5.22 $5.37

Vermont Housing Finance Authority (VHFA) Mortgages Servicing Released - Rate could differ with manual Underwriting

Loan Term 30 Year VHFA Advantage 100% RD 30 Year VHFA Move 30 Year VHFA Move 100% RD

Rate 5.750% 5.500% 5.250%

Points 0.00% 0.00% 0.00%

APR 5.777% 5.527% 5.276%

Investment Property Mortgages

Serviced by NEFCU

Loan Term

Rate

Points

APR

Fixed Rate - 60 day lock period

30 Year Investment Properties held in an LLC not eligible 20 Year Investment Properties held in an LLC not eligible 15 Year Investment Properties held in an LLC not eligible

7.000% 6.625% 5.375%

0.00% 0.00% 0.00%

7.029% 6.662% 5.420%

Balloon - 10 year term / 25 year amortization - 60 day lock period. 120 day lock period available with .5% rate markup.

10 Year Term/25 Year Amort.

6.000%

0.00%

6.031%

3/1 ARM 10 Yr Balloon/25 Yr Amort.; Margin 3.125; Caps 2/6 5/1 ARM 10 Yr Balloon/25 Yr Amort.; Margin 3.125; Caps 2/6 7/1 ARM 10 Yr Balloon/25 Yr Amort.; Margin 3.125; Caps 2/6

4.625% 4.875% 5.125%

0.00% 0.00% 0.00%

6.105% 5.915% 5.835%

Payment Per $1,000 $5.84 $5.68 $5.52

Payment Per $1,000

$6.65 $7.53 $8.10

$6.44 $5.63 $5.77 $5.92

Land and Construction Mortgages

Serviced by NEFCU - 60 day lock period. 120 day lock period available with .5% rate markup.

Loan Term

Rate

Points

1/1 ARM Land Loan 10 Yr Balloon/Variable Amortization up to 20 yrs.; 1 Yr T-Bill; 3.125% Margin; 2/6 Caps 3/1 ARM Land Loan 10 Yr Balloon/Variable Amortization up to 20 yrs.; 1 Yr T-Bill; 3.125% Margin; 2/6 Caps

4.000% 4.750%

0.00% 0.00%

Construction Primary Residence 6-12 Month Fixed; Interest Only

6.500%

0.00%

APR 6.293% 6.065% 7.050%

Payment Per $1,000 $6.06 $6.46 N/A

NEFCU Adjustable Rate Mortgages (ARMs) begin with a fixed rate and adjust upward or downward after the initial fixed term. ARM products contain two

numbers. The first number refers to the number of years the interest rate at closing remains fixed. The second number is the number of years in between interest rate

changes after the initial fixed term expires.

All rates quoted above are for a rate lock period of 60 Days. Rate locks are available. Rates can vary according to individual loan situations. Rates and lock periods are subject to change. The payment amount may be higher if escrows for property taxes, homeowner's insurance, or mortgage insurance are applicable. * Low cost programs include customary settlement charges only

CONTACT US AT 866-80-LOANS or 866-805-6267 or visit

Rate Lock Expiration Dates

Lock Period

Expiration Date

Conventional Products

60 Day

11/8/22

75 Day 90 Day

11/23/22 12/8/22

Portfolio Products 60 Day

11/8/22

120 Day

1/7/23

Price

Rate Sheet Price Add .125 to Points Add .25 to Points

Rate Sheet Price Add .5 to Rate Sheet Price

Conventional Loan Amount Limit

Unit Count

Max Loan Amount

1 $ 2 $ 3 $ 4 $

647,200 828,700 1,001,650 1,244,850

Treasury Bill Weekly Average Index

1 Year

3.48

3 Year

3.47

5 Year

3.31

10 Year

3.17

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