Loan Rates
Mortgage Loan Rates
Rates and APRs (annual percentage rate) are subject to change without notice| Mortgage Program | Interest Rate | Points | APR | Monthly Payment per $1,000 Borrowed |
|---|---|---|---|---|
| Fixed Rate (1) | (2) | (3) | (4) | |
| 10 Year Mortgage Fixed Rate | 6.375% | 0 | 6.512% | $11.29 |
| 15 Year Mortgage Fixed Rate | 6.750% | 0 | 6.851% | $8.85 |
| 20 Year Mortgage Fixed Rate | 6.875% | 0 | 6.957% | $7.68 |
| 30 Year Mortgage Fixed Rate | 7.125% | 0 | 7.190% | $6.74 |
(1) Loan product available for loan amounts up to conforming loan limit.
(2) Rates quoted assume a 20% down payment on the purchase of an owner-occupied single family home. Rates are adjusted for credit score, loan-to-value, multi-family property, secondary residence, investment property, and cash-out refinance transactions. Loans with less than a 20% down payment will require mortgage insurance.
(3) Annual percentage rate (APR) assumes a $250,000 loan with a 20% down payment and 15 days prepaid interest. Actual APR may vary based on loan amount and finance charges.
(4) The monthly payment amounts shown include principal and interest. Your actual monthly payment will be greater for payment into an escrow account for taxes, property insurance premiums, mortgage insurance, and flood insurance, if required.
Consumer Loan Rates
Rates and APRs (annual percentage rate) are subject to change without notice| Consumer Loan Program | Term | Interest Rate | APR | Monthly Payment per $1,000 Borrowed |
|---|---|---|---|---|
| Home Equity Loan (1) | 60 mo. | 7.250% | 7.250% | $19.92 |
| 120 mo. | 7.500% | 7.500% | $11.87 | |
| 180 mo. | 7.750% | 7.750% | $9.41 | |
| 240 mo. | 8.000% | 8.000% | $8.36 | |
| Home Equity Line of Credit (2) | open-ended | 8.500% | 8.500% | NA |
| New Auto | 24 mo. | 6.500% | 6.500% | $44.55 |
| 36 mo. | 6.625% | 6.625% | $30.71 | |
| 48 mo. | 6.750% | 6.750% | $23.83 | |
| 60 mo. | 6.875% | 6.875% | $19.74 | |
| Used Auto (3) | 24 mo. | 7.500% | 7.500% | $45.00 |
| 36 mo. | 7.625% | 7.625% | $31.16 | |
| 48 mo. | 7.750% | 7.750% | $24.30 | |
| Passbook Loan (4) | ||||
| Personal Loan (5) | up to 36 mo. | 11.500% | 11.500% | $46.84 |
| Overdraft Protection (6) | open-ended | 18.000% | 18.000% | NA |
| Prime Rate | 8.500% |
(1) 1st or 2nd lien position behind a Methuen Co-operative Bank 1st mortgage up to an 80% loan-to-value. 2nd lien position at the discretion of the Bank. Homeowners Insurance is required, flood insurance may be required.
(2) 1st or 2nd lien position behind a Methuen Co-operative Bank 1st mortgage up to an 80% loan-to-value. 2nd lien position at the discretion of the Bank. Homeowners Insurance is required, flood insurance may be required. The interest rate is variable, may change without notice after the loan account is opened, and is
based on the Wall Street Journal Prime Rate. The maximum APR is 18%
(3) 36 month max term for used auto greater than 10 years and additional 0.50% to rate. Used auto greater than 15 years additional 1.00% to rate.
(4) Up to 60 months. 2% over the earned interest rate. Up to 95% of account balance. Monthly interest payments required.
(5) Loan amount up to $5,000. Higher amounts will be considered for qualifying borrowers that are well known to the Bank
(6) Up to $1,000. Higher amounts will be considered for qualifying borrowers that are known to the Bank.
(7) Twenty-five basis point (0.25%) rate reduction for automatic payment withdrawal from a Methuen Co-operative Bank direct deposit checking account.
ALL ACCOUNTS – All rates and APYs are accurate as of the effective date. Rates and APYs are subject to change without notice. Fees may reduce earnings.
Except for certificates of deposit, all other accounts interest rates are variable and may change after the account is opened.
CERTIFICATES OF DEPOSIT – Certificates of deposit are subject to early withdrawal penalties. The APY on certificates of deposit assumes that the interest earned on the account remains in the account until the maturity date. The rates and APYs on certificates of deposit are guaranteed for the length of the term.
* Daily Balance (the amount of principal in the account each day)