Mortgage Rates
Rates Effective as of 1/25/2022.
NPNC=No Points No Closing Costs. (100K minimum loan amount) See additional disclosures below.
Fixed Rate Mortgages
Points
Interest
RateAnnual
Percentage RatePayment
per $1,000
30 Years 0 points
NPNC3.50%
3.875%
3.56%
3.88%$4.50
$4.71
20 Years 0 Points
NPNC3.25%
3.625%3.34%
3.63%$5.68
$5.87
15 Years 0 points
NPNC2.875%
3.25%
2.99%
3.25%$6.85
$7.03
10 Years 0 points 2.875% 3.03% $9.60
Jumbo Fixed Rate 2 points
1 point
0 points3.25%
3.375%
3.50%
3.48%
3.52%
3.56%
$4.36
$4.43
$4.50
Home Possible
30 Years
0 points
NPNC
3.50%
3.875%
3.56%
3.88%
$4.50
$4.71
*HomeOne 2 points
1 point
0 points
NPNC3.25%
3.375%
3.50%
3.875%3.48%
3.52%
3.56%
3.88%
$4.36
$4.43
$4.50
$4.71
**Wealth Builder
20 Year Fixed
0 points
3.50%
3.59%
$5.80
Fixed Construction Permanent 1 point 3.50% 3.65% $4.50
30 Year Fixed Investment
<75% LTV
>75% <80% LTV
>80%
0 points
0 points
0 points
4.125%
4.375%
4.625%
4.19%
4.44%
4.69%
$4.85
$5.00
$5.15
*Max. LTV 97% with PMI. Fixed rate. 1 unit primary residence. Purchase or rate & term refinance.
**Also available for 10 or 15 year terms @ .25% over applicable offering rates. Max. loan amount $650,000.
Purchase only.
Adjustable Rate Mortgages
Rate may increase after origination
Points
Interest Rate
Annual
Percentage RatePayment
per $1,000
7/1 ARM
2 points
1 point
0 points2.25%
2.375%
2.50%
3.15%
3.13%
3.11%$3.83
$3.89
$3.96
7/1 ARM Jumbo 2 points
1 point
0 points3.00%
3.125%
3.250%3.56%
3.54%
3.52%$4.22
$4.29
$4.36
5/1 ARM 2 points
1 point
0 points2.20%
2.325%
2.450%
3.27%
3.24%
3.20%$3.80
$3.87
$3.93
5/1 ARM Affordable Mortgage 0 points 2.45% 3.20% $3.93
3/1 ARM 2 points
1 point
0 points2.00%
2.125%
2.25%3.39%
3.34%
3.29%$3.70
$3.76
$3.83
One Year ARM 1 point
0 points1.875%
2.00%3.52%
3.45%$3.64
$3.70
5/1 ARM Investment 0 points 3.625% 4.17% $4.57
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 $647,200. 2 Family $828,700. 3 Family $1,001,650. 4 Family $1,244,850.
Fixed Jumbo: Also available for 10, 15, & 20 year terms. 1 & 2 family owner occupied primary residences. Loan amounts greater than $548,251 to $1,000,000.
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 (2.95%) 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.
