Server: Microsoft-IIS/3.0 Date: Thu, 18 Dec 1997 13:43:29 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Fri, 26 Sep 1997 18:30:41 GMT Content-Length: 40639 American Bank of Connecticut - Mortgage Rates
    
    Mortgage and Loan Rates


Effective 9/26/97

Adjustable Rates
see footnotes
Fixed rates
T-Bill Index 15 Year Fixed
TYPE RATE PTS CAPS MARGIN APR RATE PTS APR
CONVENTIONAL/PERMANENT                    
                     
1-4 Family Owner Occupied 1 Year   5.625% 0 2\6 2.750% 8.0358% 7.250% 0 7.2655%
(up to $214,600) 3 Year * 7.250% 0 2\6 2.750% 8.0722%      
10% downpayment or more**** 5 Year ** 7.375% 0 2\6 2.750% 7.9622%      
  10 Year *** 8.500% 0 2\6 2.750% 8.4804%      
                     
1-4 Family Owner Occupied 1 Year   5.875% 0 2\6 2.750% 8.0774% 7.500% 0 7.5063%
(over $214,600) 3 Year * 7.500% 0 2\6 2.750% 8.1348%      
10% downpayment or more**** 5 Year ** 7.625% 0 2\6 2.750% 8.0605%      
  10 Year *** 8.750% 0 2\6 2.750% 8.6624%      
                     
                     
CONSTRUCTION TO PERMANENT                    
                     
(up to $214,600) 1 Year   5.625% 0 2\6 2.750% 5.6250% 7.250% 0 7.2500%
10% downpayment or more****                    
                     
(over $214,600) 1 Year   5.875% 0 2\6 2.750% 5.8750% 7.500% 0 7.5000%
10% downpayment or more****                    
                     
                     
INDIVIDUAL LOT LOANS 1 year   10.250% 0 2\6 3.500% 9.3739%      
40% downpayment or more                    
Maximum 10 year term                    
                     
                     
SECOND MORTGAGES 1 year   10.250% 0 2\6 3.000% 8.8958%      
1-4 family, owner-occupied                    
Maximum 20 year term                    

* Fixed for the first 3 years, then becomes adjustable every year thereafter. Also available in a construction mortgage at the same rate.
** Fixed for the first 5 years, then becomes adjustable every year thereafter. Also available in a construction mortgage at the same rate.
*** Fixed for the first 10 years, then becomes adjustable every year thereafter. Also available in a construction mortgage at the same rate.
*** Ten year ARM for no more than 25 years
**** Any loan with less than 20% downpayment will require private mortgage insurance.

All mortgage loans require a 2 year prepayment penalty of 1%

Mortgage rate on owner occupied second homes are 1/2% above stated rates

Maximum loan to value on condominiums (owner occupied only) is 75%

For all other mortgage loan products and specific terms and conditions on the above, please call the lending Department.

FHA mortgages are available - please call Cathy Macdonald or Karen Chipko at 203-757-9401

All rates are subject to change, please call the lending department for the most current rate information.



Hours and
Locations
Mortgages
and Loans
Mortgage
Rates
Community
Links
Business
Banking
Deposit
Rates
Deposit
Products
About
Us
Contact
Us!!!
Site
Search
Member FDIC

Equal Housing Lender
American Bank of Connecticut