Mortgage Rates

Rates Effective as of 07/10/2020
NPNC=No Points No Closing Costs. (100K minimum loan amount)
See additional disclosures below

ProductPointsInterest RateAnnual
per $1,000
30 Year Fixed0 points3.25%3.31%$4.36
20 Year Fixed 0 Points3.125%3.21%$5.61
15 Year Fixed 0 points2.875%2.98%$6.85
10 Year Fixed 0 points2.875%3.03%$9.60
Fixed Construction Permanent1 point3.25%3.39%$4.36
Jumbo Fixed Rate2 points 3.00%3.22%$4.22
1 point3.125%3.27%$4.29
0 points3.25%3.31%$4.36
Wealth Builder 100% Financing
20 Year Fixed. Also available for 10 or 15 year terms @ .25% over applicable offering rates. Max. loan amount $650,000. Purchase only.
0 points3.375%3.46%$5.74
Max. LTV 97% with PMI. Fixed rate. 1 unit primary residence. Purchase or rate & term refinance.
2 points
1 point3.125%3.27%$4.29
0 points3.25%3.31%$4.36
Home Possible
30 Year Fixed0 points3.25%3.31%$4.36
30 Year FixedNPNC3.50%3.50%$4.50
Adjustable Rate Mortgages
Rate may increase after origination
ProductPointsInterest RateAnnual
per $1,000
7/1 ARM
2 points3.00%3.29%$4.22
1 point3.125%3.27%$4.29
0 points3.25%3.25%$4.36
7/1 ARM Jumbo2 points3.375%3.53%$4.43
1 point3.50%3.51%$4.50
0 points3.625%3.49%$4.57
5/1 ARM2 points3.00%3.22%$4.22
1 point3.125%3.19%$4.29
0 points3.25%3.15%$4.36
5/1 ARM
Affordable Mortgage
0 points3.25%3.15%$4.36
3/1 ARM2 points2.875%3.19%$4.15
1 point3.00%3.14%$4.22
0 points3.125%3.09%$4.29
One Year ARM1 point2.875%3.13%$4.15
0 points 3.00%3.06%$4.22
5/1 ARM Investment0 points4.375%4.12%$5.00
30 Year Fixed Investment
<75% LTV0 points4.875%4.94%$5.30
>75% <80% LTV0 points5.25%5.32%$5.53
>80%0 points5.75%5.82%$5.84

All rates subject to change as market changes and without notice; restrictions may apply. Lending area limited to MA, RI and northern CT). All loans are subject to credit and underwriting approval. Loan Level price adjustments may apply.

APR Based on $100,000 @ 80% LTV and basic fees applicable to all mortgage loans. Other fees affecting APR may apply. Payment per $1,000 does not include taxes or insurance, actual payment obligation will be greater. Life of loan servicing by Milford Federal. Lower fixed rate programs may be available. Maximum loan amounts vary by product and property.

Fixed Rate:  1 Family $510,400. 2 Family $653,500. 3 Family $789,950. 4 Family $981,700.

Fixed Jumbo:  1 & 2 family owner occupied primary residences. Loan amounts greater than $510,401 to $650,000. Loan amounts greater than $650,000 – $1,000,000 add .25% to the rate.

ARM 1 and 4 family, owner and non-owner occupied $550,000.

ARM Jumbo 1 and 2 family, owner occupied $1,000,000.

7/1 ARM No PMI, APR may increase after consummation. The new rates for 7/1 loan will be determined by adding the index at that time (1 year Treasury) to the margin (3.325%) rounded to nearest one-eight percentage point. Each adjustment is limited to 2% and total adjustments over the life of the loan are limited to 6%.

Other residential mortgage loan programs are available, both for property owners and builders. To get current rates and details on all of Milford Federals mortgage loan programs, call our Mortgage Rate Lines at 508-478-8434 (MA) or 401-766-6642 (RI) or visit one of our four banking offices.

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