WESTFIELD BANK HOME LOAN RATES.
as of May 9, 2008 (Loans available in Hampden, Hampshire, Franklin & Berkshire Counties)
| Fixed Rate Mortgage Programs | ||||
|---|---|---|---|---|
| Term | Rate | Points | APR1 | Payment per $1000 |
| 30 Year Fixed | 5.625% | 2 | 5.8117% | $5.76 |
| 5.875% | 1 | 5.9698% | $5.92 | |
| 6.125% | 0 | 6.1265% | $6.08 | |
| 20 Year Fixed | 5.500% | 2 | 5.7496% | $6.88 |
| 5.625% | 1 | 5.7503% | $6.95 | |
| 6.000% | 0 | 6.0020% | $7.17 | |
| 15 Year Fixed | 5.000% | 2 | 5.3105% | $7.91 |
| 5.250% | 1 | 5.4065% | $8.04 | |
| 5.625% | 0 | 5.6275% | $8.24 | |
| 10 Year Fixed | 4.875% | 2 | 4.8785% | $10.35 |
| 5.250% | 1 | 5.4731% | $10.73 | |
| 5.500% | 0 | 5.5035% | $10.86 | |
| 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 | 4.000% | 1 | 4.8899% | $4.78 |
| 4.125% | 0 | 4.8134% | $4.85 | |
| 3/1 ARM 2/6 caps | 4.375% | 1 | 4.8450% | $5.00 |
| 4.875% | 0 | 4.8764% | $5.30 | |
| 5/1 ARM 2/6 caps | 4.875% | 1 | 4.9643% | $5.30 |
| 5.250% | 0 | 5.0168% | $5.53 | |
| 7/1 ARM 2/6 caps | 5.250% | 1 | 5.1507% | $5.53 |
| 5.500% | 0 | 5.1858% | $5.68 | |
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 | Interest Rate | APR | Undiscounted APR |
Payment per $1000 |
| Up to 80% CLTV | 4.00* | 5.00%* | 5.00% | N/A |
| 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 | Interest Rate | APR | Undiscounted APR | Payment per $1000 |
| Up to 80% CLTV | 4.00%* | 5.00% * | 5.00% | N/A |
| 80.01% to 90% CLTV | 5.00%** | 6.00%** | 5.00% | N/A |
* Prime minus 1% with automatic payment from a Westfield Bank checking account.
** Prime 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 | 7.44% | 100% NADA Retail Value | $35.96 |
| Used '04 | 48 Months | 7.21% | 100% NADA Retail Value | $27.81 |
| Used 2005-New | 60 Months | 7.06% | 100% Purchase price for New 100% NADA Retail Value Used |
$22.94 |
Westfield Bank checking account.
| 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.
To apply online click here.
To contact a Westfield Bank Mortgage Loan officer call 413.572.4265 or send an email.
