First Time Homebuyer Program Rates
For up-to-the minute rates, please call our Loan Servicing Department at 860-688-8511.

Rates as of Wednesday, July 23, 2008
Points Interest Rate APR Payment per $1,000 Payments Apply
3 Year / 1 Year Adjustable Rate (3 year fixed rate to 1 year adjustable thereafter) 30 Year
0.000 5.125% 5.089% $5.45 Show Payments
5 Year / 1 Year Adjustable Rate (5 year fixed rate to 1 year adjustable thereafter) 30 Year
0.000 5.375% 5.202% $5.60 Show Payments
The contract rates will remain fixed until the first adjustment date and are subject to increase or decrease after consummation. Adjustments based on the 1 year US Treasury weekly constant plus a 2.75% margin.
  • 1 - 4 Family Owner Occupied First Time Homebuyer Residential Loans up to $292,455.
  • Maximum Sales Price: $301,500.
  • Income limit of $81,000 for a household of 2 or less; $93,150 for 3 or more.
  • Must be a First-Time Homebuyer.
  • As little as 3% percent down-payment. (Private Mortgage Insurance is required for down-payments less than 20%).
  • Annual Percentage Rates (APR) are based on $100,000 for conventional loans with a 20% down payment. Any down payment less than 20% would require a monthly PMI (Private Mortgage Insurance) payment.
  • Minimum Credit Score: 620.
  • Maximum APR 18%
  • Initial Unit Cost represents the monthly payment during the initial fixed term based on a $1,000.00 loan at the discounted rate for a 30 year term.
  • Payment per $1,000.00 represents the monthly payment based on a $1,000.00 loan at the rate and term indicated.
  • At the adjustment which could be in 3 or 5 years depending on product. The maximum increase could be 2% yearly cap with a maximum of 5% lifetime cap over the life of the loan.
  • Subject to credit approval.
  • Other terms and conditions may apply.
  • Rates subject to change at anytime without notice.
  • Lending Area: Hartford, Tolland and Litchfield counties only.