Home > Loan Information > Mortgage Rates

Mortgage Loan Rates


Get a Personalized Quote View Mortgage Specials

Wakefield Co-operative Bank NMLS #406738

Owner occupied 1-4 Family, Condos, Primary Residence and Second Homes.

FNMA Conforming Loan Amount Limits 

1 Family     $548,250.00
2 Family     $702,000.00
3 Family     $848,500.00
4 Family     $1,054,500.00

 


1. Fixed Mortgage Loan Rates*
(Effective: Monday, November 29, 2021)
Program
Term
Interest Rate
Points
APR
Monthly Payments
per $1000 borrowed
Fixed Rate Mortgages
10 years
2.375%
0 2.725%
$9.37
15 years
2.375%
0 2.614%
$6.61
20 years
2.750%
0 2.939%
$5.42
30 years
3.000%
0 3.137%
$4.22


2. Adjustable Rate Mortgages*
(Effective: Monday, November 29, 2021)
Program
Term
Interest Rate
Points
APR
Monthly Payments
per $1000 borrowed
*3/1 Year ARM
(Fully indexed rate: 2.875%)
360 months
2.000%
0 2.792%
 to  3 years   $3.70
 to  30 years   $4.44
*5/5 Year ARM
(Fully Indexed Rate: 3.125%)
360 months
2.000%
0 3.339%
 to  5 years   $3.70
 to  30 years   $5.07
**7/1 Year ARM
(Fully Indexed Rate: 2.875%)
360 months
2.125%
0 2.643%
 to  7 years   $3.76
 to  30 years   $4.96
**10/1 Year ARM
(Fully Indexed Rate : 2.875%)
360 months
2.250%
0 2.616%
 to  10 years   $3.82
11   to  30 years   $4.96
*
The "Monthly Payments per $1000 borrowed" amounts referenced above do not include real estate taxes and insurance. The actual monthly payment will be higher if an escrow account is established or required.

*Caps- 2/6 with 2.750% margin on the 3/1 & 5/5 ARMs.

**Caps- 5/2/5 with 2.750% margin on the 7/1 & 10/1 ARMs.

Also Available:
No Points no closing costs programs
Investment Property Loan
Loans to 1st time Homebuyers
Bridge Loans

Special Features:
45 day Rate locks available at application
No prepayment Penalties

(1)Annual Percentage Rate (APR) assumes a $100,000 loan with a 20% down payment. Fixed rate and adjustable rate loans are available with a 5% minimum down payment with PMI.
(2) Current fully indexed rate is based on the weekly average yield on U.S. Treasury Securities adjusted to constant maturities of 1 year for our adjustable rate mortgage rates. Current index for 1 year is 0.18% and for 5 year is 1.24%.
(3) Annual Percentage Rate (APR) may increase after consummation.
All posted rates are considered benchmark rates. Your actual rate and points may be different.


Fixed Jumbo Mortgage*
(Effective: Monday, November 29, 2021)
Program
Term
Interest Rate
Points
APR
Monthly Payments
per $1000 borrowed
15 Year Fixed Jumbo Mortgage
180 months
2.750%
0 2.996%
$6.79
30 Year Fixed Jumbo Mortgage
360 months
3.375%
0 3.517%
$4.42
*Maximum loan amount is up to $1 million and dependent upon loan to value. APR is based on owner occupied, primary residence, single family or condominium units, and is a new loan to the bank. Must be used to purchase or refinance. Cash out available up to 80% loan to value. On a 30 year fixed rate jumbo mortgage, you will make 360 payments of $4.35 for every $1,000 borrowed. Borrower’s FICO score must be above 700 to qualify. Taxes, insurance, homeowner fees, and escrow account may be added to and increase monthly payment. Other terms and conditions may apply. Available for a limited time only.


Get a Personalized Quote View Mortgage Specials