Martha's Vineyard Savings Bank
 

30 Year Fixed Rate Loan

A fixed rate mortgage provides you with the security of a monthly payment that doesn't change.  Fixed rate loans are one of the most popular loan options today.  By choosing a 30 year fixed rate loan, you will have the lowest monthly payment of all the fixed rate loans we offer.  This loan has no prepayment penalty.

30 Year Fixed Rate Loan - RATES

IMPORTANT LOAN INFORMATION

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $175,000 and an estimated property value of $218,750.  The property is located in Edgartown, MA and is within Dukes County.  The property is an existing single family home and will be used as a primary residence.  An escrow (impound) account may be required.  The rate lock period is 60 days and the assumed credit score is 740.

30 Year Fixed Rate with No Points (based on $175,000 loan amount)

At a 4.375% interest rate, the APR for this loan type is 4.433%.  The monthly payment schedule would be:

359 payments of $873.75 at an interest rate of 4.375%

1 payment of $872.91 at an interest rate of 4.375%

The payments do not include amounts for taxes and insurance premiums; the actual payment obligation may be greater.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

 

15 Year Fixed Rate Loan

A 15 year fixed rate mortgage provides a monthly payment that doesn't change.  This loan may fit you're financial plan if you're comfortable with a higher payment with a shorter term loan.  Monthly payments on a 15 year loan are approximately 25% higher than payments on a 30 year loan even though the interest rates on 15 year loans are typically a quarter of one percent lower.  That's because more principal is being repaid with every payment.  Like all the loan programs we offer, there is no prepayment penalty.

15 Year Fixed Rate Loan - RATES

IMPORTANT LOAN INFORMATION

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $100,000 and an estimated property value of $218,750.  The property is located in Edgartown, MA and is within Dukes County.  The property is an existing single family home and will be used as a primary residence.  An escrow (impound) account may be required.  The rate lock period is 60 days and the assumed credit score is 740.

15 Year Fixed Rate with No Points (based on $175,000 loan amount)

At a 3.625% interest rate, the APR for this loan type is 3.725%.  The monthly payment schedule would be:

179 payments of $1,261.81 at an interest rate of 3.625%


1 payment of $1,262.80 at an interest rate of 3.625%

The payments do not include amounts for taxes and insurance premiums; the actual payment obligation may be greater.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

 
Member FDIC
Depositors Insurance Fund
Equal Housing Lender
Surcharge-Free ATMs
REPORT A LOST OR STOLEN CARD
Touch to call a number below:
During normal business hours:
508-627-4266
Outside of normal business hours:
800-554-8969
REPORT A LOST OR STOLEN CARD
During normal business hours:
Call 508-627-4266
Outside of normal business hours:
Call 800-554-8969
Rates subject to change - Martha's Vineyard Savings Bank NMLS ID# 483244