Mortgage Rates Effective:
Apply Online at www.watertownsavings.com
11/6/2008
Rate
Autopay Points APR 4.226% 4.465% 4.738% 5.054% 5.547% 4.740% 6.204% 6.181% 6.295% 6.409% 4.525% 4.495% 4.465%
P&I $5.37 $5.68 $5.84 $6.00 $6.08 $5.76 $11.16 $8.51 $7.31 $6.24 $5.84 $5.76 $5.68 $6.40 $6.32 $6.24
Rate 5.250% 5.750% 6.000% 6.250% 6.375% 5.875% 6.375% 6.375% 6.500% 6.625% 6.000% 5.875% 5.750% 6.875% 6.750% 6.625%
Non-Autopay Points APR 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4.246% 4.525% 4.834% 5.183% 5.716% 4.836% 6.455% 6.431% 6.545% 6.660% 4.585% 4.555% 4.525% 6.910% 6.785% 6.660%
P&I $5.52 $5.84 $6.00 $6.16 $6.24 $5.92 $11.29 $8.64 $7.46 $6.40 $6.00 $5.92 $5.84 $6.57 $6.49 $6.40
Adjustable Rate Mortgages, up to $417,000 1/1 ARM 5.000% 0 3/1 ARM 5.500% 0 5/1 ARM 5.750% 0 7/1 ARM 6.000% 0 10/3/30 ARM 6.125% 0 First Time Homebuyer 5/1 ARM 5.625% 0 0 0 0 0
Fixed Rate Products, up to $417,000 10 Years 6.125% 15 Years 6.125% 20 Years 6.250% 30 Years 6.375%
Jumbo ARM Product, greater than $417,000 3/1 ARM, 20 % Down 5.750% 0 3/1 ARM, 30 % Down 5.625% 0 3/1 ARM, 50 % Down 5.500% 0
Jumbo Fixed Rate Product, greater than $417,000 30 Years, 20% Down 6.625% 0 6.660% 30 Years, 30% Down 6.500% 0 6.534% 30 Years, 50% Down 6.375% 0 6.409%
Autopay Rate: To qualify for our Autopay Rate, you must have your monthly mortgage payments automatically withdrawn from a WSB Checking Account and a WSB debit card activated. Should you cancel your automated monthly withdrawal, your interest rate will change to the non-autopay rate. All interest rates on Adjustable Rate Mortgage (ARM) products may increase after you obtain the loan. The interest rate caps are two percent (2%) at each rate change period and six percent (6%) over the life of the loan. Rates for all Fixed Rate mortgages based on credit score of 680 or higher. Annual Percentage Rate (APR) will vary based on final loan amount and finance charges. Example APRs listed above are based on a $100,000 mortgage and assume the loan reprices at the Current Index and Current Margin and remains at that rate for the life of the mortgage. The Current Index Rate for ARM products is: The Current Index Rate for 10/3/30 only is: The Margin for ARM products is: 1.44% 1.82% 2.75%
Jumbo mortgages are defined as loans in excess of $417,000 (single family and condominium), $533,850 (two family), $645,300 (three family) and $801,950 (four family). Jumbo loans require a minimum down payment of 20%. All mortgages over $1,000,000 require a minimum 30% down payment.
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All mortgage rates reflect Owner Occupied Rates, add 1% and 1 point for Investment Property Rates. Residential Investment Property has a maximum LTV of 70%. All Owner Occupied Rates reflect a maximum Loan to Value (LTV) of 95%, loans with LTV over 80% may require Private Mortgage Insurance. Special Information for Adjustable Rate Mortgages: The APR, interest rate and principal and interest payments are subject to increase and will change after the loan is closed due to market-driven changes to the index. Please refer to the following examples of a 30 Year ARM loan with a $180,000 loan payment (assuming a 20% downpayment). A minimum downpayment of 5% of the purchase price is required. These examples are as of 4/24/2007.
One Year ARM at a 5.500% start rate, The APR is 7.414% which is subject to increase. Your Payment schedule would be 12 payments of: $ 1,022.02 then 347 payments of: $ 1,253.19 and 1 payment of: $ 1,263.89 Three Year ARM at a 5.625% start rate, The APR is 7.147% which is subject to increase. Your Payment schedule would be 36 payments of: $ 1,036.19 then 323 payments of: $ 1,257.44 and 1 payment of: $ 1,249.53 Five Year ARM at a 5.750% start rate, The APR is 6.920% which is subject to increase. Your Payment schedule would be 60 payments of: $ 1,050.44 then 299 payments of: $ 1,247.52 and 1 payment of: $ 1,239.68 Seven Year ARM at a 5.875% start rate, The APR is 6.766% which is subject to increase. Your Payment schedule would be 84 payments of: $ 1,064.77 then 275 payments of: $ 1,238.57 and 1 payment of: $ 1,232.63 Ten Year ARM at a 6.000% start rate, The APR is 6.555% which is subject to increase. Your Payment schedule would be 120 payments of: $ 1,079.20 then 239 payments of: $ 1,225.03 and 1 payment of: $ 1,223.37
Watertown Savings Bank Loan Center, 60 Main Street, Watertown, MA 02472 617-928-9000 or 800-207-2525 Rateline: 617-928-2300
Member FDIC, Member DIF Subject to Credit Approval. Rates subject to change without notice. APR will vary based on final loan amount and finance charges.
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