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Let me make it clear about Mortgage Products

October 21st, 2020

Let me make it clear about Mortgage Products

No Bank Fees – Check the APR!

Kennebec Savings Bank is proud to not charge bank that is ANY on our biweekly and monthly fixed rate mortgages. (Other third-party charges nevertheless use.)

Looking around? Be sure you are accurately costs that are comparing. The APR (apr) will help. The APR is needed to add fees that are certain banking institutions want to add with their loans.

When you have any queries, call us at (207) 622-5801 and inquire to talk with a loan provider. We are constantly very happy to assist.

Mortgage Products

Biweekly Fixed Rate Loans
Monthly Fixed speed Loans
Adjustable Rate Loans
Construction Loans
First-Time Homebuyer & Veteran Loans
HomeAid low-cost Residence Loans
Seasonal Residence Loans
Mobile house or apartment with Land Loans
Land just Loans
Home Equity Loans
Home Equity personal lines of credit

Biweekly Fixed Rate Loans

Our signature home loan item. 50 % of a month-to-month mortgage repayment is taken immediately from your KSB bank checking account every fourteen days, leading to significant interest savings, using years from the lifetime for the home loan.

These prices assume a 20% advance payment. Call us for any other options.
Payment quantities try not to consist of fees and insurance coverage and so the payment that is actual will soon be greater.

Term Interest APR* 10 3.000 12 months% 3.000% With that loan level of $100,000, you could have 237 biweekly re re re payments of $482.80 (having to pay off in mere 9 years and 2 months). 15 3.500 12 months% 3.500% With that loan level of $100,000, you could have 352 biweekly re re payments of $357.44 (paying down in just 13 years and a few months). 20 12 Months 3.750% 3.750% With financing quantity of $100,000, you might have 463 biweekly re re re payments of $296.44 (settling in just 17 years and 9 months). 30 3.950 12 months% 3.950% With that loan level of $100,000, you will have 674 biweekly re re payments of $237.27 (settling http://speedyloan.net/uk/payday-loans-hef/ in just 25 years and 11 months).

Month-to-month Fixed Speed Loans

Our other fixed-rate selection for house buying or refinancing, billed and paid monthly.

These prices assume a 20per cent advance payment. Call us for any other choices.
Payment quantities usually do not consist of fees and insurance and so the payment that is actual would be greater.

Term Interest APR* 10 12 Months 3.250% 3.250% With that loan number of $100,000, you could have 120 monthly obligations of $977.19 15 12 Months 3.750% 3.750% With financing quantity of $100,000, you could have 180 monthly obligations of $727.22. 20 4.000 12 months% 4.000% With that loan number of $100,000, you could have 240 monthly obligations of $605.98. 30 4.250 12 months% 4.250% With financing level of $100,000, you could have 360 monthly premiums of $491.94.

30 Year Adjustable Price Mortgages

For those of you about to retain their home loan for a somewhat little while of the time or desire the attention to regulate (considering market prices), you can expect a range of four adjustable price mortgages that offer reduced initial monthly obligations and caps in the interest.

These prices assume a 20per cent deposit. Call us for any other choices.
Payment quantities try not to add fees and insurance coverage so that the payment that is actual will undoubtedly be greater.

Item Interest APR* 3/3 ARM 3.250per cent 3.250percent With that loan level of $100,000, you could have 36 monthly premiums of $435.21 during the initial rate of interest of 3.250per cent. The price would then adjust every three years predicated on a margin and index. The present fully-indexed price is 3.250%, which may end in 324 monthly obligations of $435.21. 5/1 ARM 3.500per cent 3.255% With that loan number of $100,000, you will have 60 monthly premiums of $449.04 in the interest that is initial of 3.500per cent. The price would then adjust every based on a margin and index year. The existing fully-indexed price is 3.125%, which will lead to 300 monthly premiums of $431.21. 7/1 ARM 3.650per cent 3.368percent

With financing level of $100,000, you will have 84 monthly obligations of $457.46 during the interest that is initial of 3.650per cent. The rate would then adjust every based on a margin and index year. The present rate that is fully-indexed 3.125%, which will lead to 276 re re payments of $433.98.

10/1 ARM 3.750% 3.508%

With that loan level of $100,000, you could have 120 monthly obligations of $463.12 at the interest that is initial of 3.750per cent. The price would then adjust every 12 months centered on a margin and index. The existing fully-indexed price is 3.125%, which will end up in 240 re re payments of $438.11.

First-Time Homebuyer & Veteran Loans

Make a lesser deposit as a qualifying first-time homebuyer or veteran.

Various loan terms and payment that is fixed (biweekly or month-to-month) available.

HomeAid Loans

Our HomeAid affordable mortgage system was designed to help low-to-moderate earnings candidates; consult with certainly one of our lenders to see in the event that you qualify.

Various loan terms and fixed payment options (biweekly or month-to-month) available. HomeAid system funds are limited and subject to income limits. Personal home loan insurance coverage may be required. Main residences just; mobile houses are excluded. Needs payments that are automatic a Kennebec Savings banking account.

Construction Loans

Only pay interest during construction, with a seamless change (with no extra closings) into a normal mortgage that is residential.

Different loan terms available. Construction loans need a fee that is additional on construction expenses as well as the loan quantity; e mail us for details. Approved contractor that is general.

Seasonal Homes

For camps, cottages, as well as other properties that are non-year-round.

Various loan terms, fixed re re payment choices (biweekly or month-to-month), or payment that is adjustable (3/3 supply or 5/1 supply) available.

Cellphone House With Land Loans

For mobile houses on fundamentals.

Various loan terms, fixed re re re re payment choices (biweekly or month-to-month), or adjustable repayment choices (3/3 supply or 5/1 supply) available. Cellphone domiciles should be forever connected to secure.

Land Loans

For land-only acquisitions with adjustable rates of interest.

Different loan terms and payment that is adjustable (3/3 supply or 5/1 supply) available.

Residence Equity Loans

Use the existing equity you have actually in your house today. House equity term loans offer a set price choice that funds you the coziness of once you understand your re payment will be the same always.

Various loan terms and payment that is fixed (biweekly or month-to-month) available.

Residence Equity Credit Lines

An option that is excellent your personal future borrowing requirements by providing the capacity to access the equity you’ve got in your house when you need it; also choose the way you desire to repay it.

Various payment solutions.

* APR = percentage rate that is annual.

All loans are at the mercy of credit approval by Kennebec Savings Bank. Optimum terms listed. Shorter terms might be available; contact financing officer for details. Greater loan-to-value funding might be around with personal home loan insurance coverage (PMI).

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