MORTGAGE, HOME EQUITY AND AUTO LOAN RATES

Effective Date: July 15, 2008 

First Mortgages

TERM

POINTS

RATE APR**
"80-10-10" 30 Year 0 6.500% 6.548%
1 6.250% 6.394%
2 6.000% 6.238%
3 5.750% 6.080%
15 Year Fixed 0 5.875% 5.953%
1 5.625% 5.859%
2 5.375% 5.766%
3 5.125% 5.672%
20 Year Fixed 0 6.000% 6.062%
1 5.750% 5.936%
2 5.500% 5.810%
3 5.250% 5.683%
25 Year Fixed 0 6.250% 6.304%
1 6.000% 6.160%
2 5.750% 6.015%
3 5.500% 5.870%
30 Year Fixed 0 6.500% 6.548%
1 6.250% 6.394%
2 6.000% 6.238%
3 5.750% 6.080%
40 Year Fixed 0 6.750% 6.792%
1 6.500% 6.625%
2 6.250% 6.456%
3 6.000% 6.284%

30 Year Adjustable Rate Mortgages 

TERM POINTS  RATE APR**
1 Year ARM 0 5.500% 5.431%
1 5.250% 5.500%
2 5.000% 5.700%
3 4750% 5.642%
3/1 Year ARM 0 5.625% 5.481%
1 5.375% 5.511%
2 5.125% 5.542%
3 4.875% 5.572%
5/1  Year ARM 0 5.750% 5.564%
1 5.500% 5.560%
2 5.250% 5.555%
3 5.000% 5.551%
7/1 Year ARM 0 6.000% 5.737%
1 5.750% 5.702%
2 5.500% 5.668%
3 5.250% 5.634%
10/1 Year Arm 0 6.250% 5.996%
1 6.000% 5.924%
2 5.750% 5.853%
3 5.500% 5.781%

40 Year Adjustable Rate Mortgages 

TERM POINTS  RATE APR**
1 Year ARM 0 5.750% 5.440%
1 5.500% 5.498%
2 5.250% 5.557%
3 5.000% 5.617%
3/1 Year ARM 0 5.875% 5.517%
1 5.625% 5.541%
2 5.375% 5.566%
3 5.125% 5.592%
5/1  Year ARM 0 6.000% 5.618%
1 5.750% 5.613%
2 5.500% 5.608%
3 5.250% 5.603%
7/1 Year ARM 0 6.250% 5.796%
1 6.000% 5.764%
2 5.750% 5.733%
3 5.500% 5.701%
10/1 Year Arm 0 6.500% 6.065%
1 6.250% 5.998%
2 6.000% 5.931%
3 5.750% 5.865%

       ALL ADJUSTABLE RATE MORTGAGES ABOVE HAVE A MARGIN OF 2.75% ADDED TO THE INDEX.

FEE SCHEDULE:

One Family - $500.00

2-4 Family -  $650.00

Attorney Review Fee - $200.00 (Payable at closing)

 

NEW PRODUCT - PURCHASE ONLY

10% DOWN & 10% WITH A HOME EQUITY LOAN AS A SECOND MORTGAGE TO AVOID PMI.               

RATE FOR 2ND WILL BE 1 1/2% OVER THE CURRENT 30 YEAR HOME EQUITY LOAN

 

Purchases - 10% minimum down payment

PMI required on all loans above 80% loan to value.

 

Refinances - 80% loan to value required.  

Condominium loans 

 

Bi-weekly mortgages available - 15, 20, 30 year fixed rate terms.  Payment deducted every 14 days from a Glen Rock Savings Bank checking account.

 

Investment Property Loans Available - Call for Rates.

 

Adjustable Rate Mortgages - All loans must be owner occupied 1-4 family dwellings.

All Adjustable Rate Mortgage loans have a margin of 2.75% added to index rate

 

$5,000 - $200,000 - 80% LTV less 1st Mortgage

$201,000 - $500,000 - 1st Lien - 75% LTV ~~~ Combined 1st & 2nd Lien - 70% LTV.  Owner occupied only.

1st time homebuyer and affordable housing loans available.

 

Home Equity Loans

TERM RATE APR** RATE PER $1000
  5 Year Fixed 5.990% 6.115% $19.33
10 Year Fixed 6.090% 6.157% $11.15
15 Year Fixed 6.190% 6.237% $  8.54
20 Year Fixed 6.400% 6.438% $  7.40
25 Year Fixed-New 6.600% 6.633% $  6.81
30 Year Fixed-New 6.700% 6.729% $  6.45

**Calculation based on $100,000 loan

Home Equity Line of Credit

1% below prime with a floor of 4.00%**

**New Customers Only** 

Current Prime Rate: 5.000%

Term of Loan: 15 year payout 

New Product: Introducing our HELOC with new term of 240months

Maximum loan amount $200,000.

Loan up to 80% value of home, less first mortgage

Owner occupied only

$5,000 - $200,000 - 80% LTV less 1st Mortgage

$201,000 - $500,000 - 1st Lien - 75% LTV ~~~ Combined 1st & 2nd Lien - 70% LTV.  Owner occupied only.

Investment Property Loans Available - Call for Rates.

AUTO LOANS

Maximum of $50,000.00 

NEW RATE USED RATE
3 Years 6.250%* 2 Years 6.750%*
4 Years 6.375%* 3 Years 7.000%*
5 Years 6.500%* 4 Years 7.250%*

NO APPLICATION OR PROCESSING FEES 15% DOWN PAYMENT ON NEW VEHICLES.

LOAN AMOUNT TO 75% LOWER OF COST OR BOOK VALUE

*THESE RATES ALSO REDUCED BY 1/4% IF PAYMENT IS AUTOMATICALLY DEDUCTED FROM A GRSB ACCOUNT.

Please note: The rates listed above are subject to change at any time without notice.

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