WESTFIELD BANK HOME LOAN RATES.
as of August 28, 2008 (Loans available in Hampden, Hampshire, Franklin & Berkshire Counties)
| Fixed Rate Mortgage Programs | ||||
|---|---|---|---|---|
| Term | Rate | Points | APR1 | Payment per $1000 |
| 30 Year Fixed | 6.125% | 2 | 6.3175% | $6.08 |
| 6.375% | 1 | 6.4727% | $6.24 | |
| 6.625% | 0 | 6.6266% | $6.41 | |
| 20 Year Fixed | 6.000% | 2 | 6.2542% | $7.17 |
| 6.250% | 1 | 6.3784% | $7.31 | |
| 6.500% | 0 | 6.2520% | $7.46 | |
| 15 Year Fixed | 5.500% | 2 | 5.8150% | $8.18 |
| 5.750% | 1 | 5.9087% | $8.31 | |
| 6.125% | 0 | 6.1275% | $8.51 | |
| 10 Year Fixed | 5.375% | 2 | 5.8219% | $10.80 |
| 5.625% | 1 | 5.8497% | $10.92 | |
| 6.000% | 0 | 6.0035% | $11.11 | |
| Jumbo | ||||
|---|---|---|---|---|
| TERM | RATE | POINTS | APR | Payment Per $1000 |
| 30 Year Fixed | Call for Rates | |||
| 15 Year Fixed | Call for Rates | |||
| Adjustable Rate Mortgages | ||||
|---|---|---|---|---|
| 30 Year Term | Rate2 | Points | APR1 | Payment per $1000 |
| 1 yr ARM 2/6 caps | 4.125% | 1 | 5.0151% | $4.85 |
| 5.375% | 0 | 5.0333% | $5.60 | |
| 3/1 ARM 2/6 caps | 5.250% | 1 | 5.1506% | $5.53 |
| 5.875% | 0 | 5.2132% | $5.92 | |
| 5/1 ARM 2/6 caps | 5.875% | 1 | 5.4260% | $5.92 |
| 6.250% | 0 | 5.4798% | $6.16 | |
| 7/1 ARM 2/6 caps | 6.000% | 1 | 5.5963% | $6.00 |
| 6.500% | 0 | 5.7616% | $6.33 | |
RATES SUBJECT TO CHANGE WITHOUT NOTICE
1 Annual percentage rates (APR) are based on $100,000 with 20% down payment. Loans with LTV's greater than 80% require private mortgage insurance.2 The interest rates on adjustable rate mortgages are adjusted to weekly average yield of the US Treasury Securities adjusted to a constant maturity of one year.
Call for rates for 1-4 family investment properties.
RATES ARE SHOWN FOR OWNER OCCUPIED PROPERTIES
For any Variable Rate Product, Rate may increase after start of loan.
| Home Equity Lines of Credit-Variable Rates (15 year draw period of interest only payments/15 year repayment period of principal and interest payments) | ||||
|---|---|---|---|---|
| Loan to Value | APR | INDEX | MARGIN | |
| Up to 80% CLTV | 5.00% | 5.00% | 0 | |
| Home Equity Lines of Credit - Variable Rates (10 year draw period of principal and interest payments/10 year repayment period of principal and interest payments) | ||||
|---|---|---|---|---|
| Loan to Value | APR | INDEX | MARGIN | |
| Up to 80% CLTV | 5.00%* | 5.00%* | 0 | |
| 80.01% to 90% CLTV | 6.00%** | 5.00%** | 1 | |
*Prime minus 1/4% with automatic payment from a Westfield Bank checking account.
**Prime plus 3/4% with automatic payment from a Westfield Bank checking account.
The maximum rate for this product is 18%.
| Home Equity Loans - Fixed Rate & Term | ||||
|---|---|---|---|---|
| Loan to Value | Term | Interest Rate | APR | Payment per $1000 |
| Up to 80% | 5 Years | 5.50% | 5.62% | $19.11 |
| 10 Years | 6.00% | 6.13% | $11.11 | |
| 15 Years | 6.50% | 6.64% | $8.72 | |
| 80.01% to 90% | 5 Years | 6.50% | 8.71%3 | $19.57 |
| 10 Years | 7.00% | 9.48%3 | $11.62 | |
| 15 Years | 7.50% | 10.32%3 | $9.28 | |
3 The APR reflects the cost of Private Mortgage Insurance, which is being paid by the Bank and is not a cost to the customer.
Property insurance is required.
| Auto Loans- New/Used | ||||
|---|---|---|---|---|
| Type | Term | APR | Max Loan | Payment per $1000 |
| Used '03 | 36 Months | 6.74% | 100% NADA Retail Value | $35.58 |
| Used '04 | 48 Months | 6.50% | 100% NADA Retail Value | $27.44 |
| Used 2005-New | 60 Months | 6.36% | 100% Purchase price for New 100% NADA Retail Value Used |
$22.56 |
* Payment per $1,000 based on maximum loan fees of $174.
| Personal Loans | ||||
|---|---|---|---|---|
| Term | APR | Max. Loan | Comments | Payment per $1000 |
| 36 Months | 14.27% | $3,000 | $36.50 | |
The offer of credit is subject to credit approval.
* Payment per $1,000 based on maximum loan fees of $99.
To apply online click here.
To contact a Westfield Bank Mortgage Loan officer call 413.572.4265 or send an email.
