Mortgage Rates

Fixed Rate Mortgage Loans

 
15-Year Term Interest Rate Points APR* Maximum Loan Monthly Payments
Conventional 5.375% 1.00% 5.549% $417,000 $810.47
Conventional 5.625% 0.00% 5.644% $417,000 $823.73
No Points No Closing Cost 6.250% 0.00% 6.250% $417,000 $857.42
Jumbo 5.375% 1.00% 5.549% $1,000,000 $810.47
Jumbo 5.625% 0.00% 5.644% $1,000,000 $823.73

30-Year Term Interest Rate Points APR* Maximum Loan Monthly Payments
Conventional 5.875% 1.00% 5.980% $417,000 $591.54
Conventional 6.125% 0.00% 6.137% $417,000 $607.61
No Points No Closing Cost 6.750% 0.00% 6.750% $417,000 $648.60
Jumbo 5.875% 1.00% 5.980% $1,000,000 $591.54
Jumbo

6.125%

 0.00% 6.137% $1,000,000 $607.61

Monthly payments assume a loan of $100,000. *Annual Percentage Rate (APR) subject to change without notice. APR calculations are based on 20% down payment. Lower down payment options are available. Down payments of less than 20% may require Private Mortgage Insurance which could increase the APR and monthly payment. Other programs and rates are available. Other terms and conditions may apply. For loan amounts over $750,000, .250% will be added to the rate. Rhode Island, Massachusetts, and Connecticut properties. Please contact BankNewport at (800) 234-8586 for additional information.

  

 

Adjustable Rate Mortgage Loans

 
ARM Term (Year) Interest Rate Points APR* Maximum Loan Caps Monthly Payments
10/1** 30/40 5.750% 0.00% 5.452% $1,000,000 2% per yr
6% life of loan		 $583.57
6/1** 30/40 5.250% 0.00% 4.978% $1,000,000 2% per yr
6% life of loan		  $552.20
4/1** 30/40 5.000% 0.00% 4.838% $1,000,000 2% per yr
6% life of loan		  $536.82

 

Special Pricing for Purchases Term (Year) Interest Rate Points APR* Maximum Loan Caps Monthly Payments
10/1** 30/40 5.500% 0.00% 5.644%  $1,000,000 2% per yr
6% life of loan		 $567.79

**ARM loans are fixed for 10, 6 or 4 years-then adjust yearly. Monthly payments assume a 30-year loan of $100,000. Special Pricing for Purchases is available for primary and second homes.  

 

ARM Construction*** Term (Year) Interest Rate Points APR* Maximum Loan Caps Monthly Payments
10/1 30/40 5.750% 0.50% 5.653% $1,000,000 2% per yr
6% life of loan		 $583.57
5/1 30/40 5.250% 0.50% 5.142% $1,000,000 2% per yr
6% life of loan		 $552.20
***Construction loans consist of a 12-month interest-only construction period followed by either a 30 or 40 year fully amortizing term. Construction ARM loans are fixed for 10 or 5 years after the initial 12-month construction period,  then adjust yearly. Monthly payments assume a 30-year loan of $100,000.
 
Land Term (Year) Interest Rate Points APR* Maximum Loan Caps Monthly Payments
1 Year Adjustable  20 5.750% 0.50% 5.606%  $500,000 2% per yr
6% life of loan		 $702.08

Land monthly payment assumes a 20-year loan of $100,000 

*Annual Percentage Rate (APR) subject to change without notice. APR calculations are based on 20% down payment. Lower down payment options are available. Down payments of less than 20% may require Private Mortgage Insurance which could increase the APR and monthly payment. Other programs and rates are  available. Other terms and conditions may apply. For loans over $750,000, .250% will be added to the rate. Rhode Island, Massachusetts, and Connecticut properties. Please contact BankNewport at (800)234-8586 for additional information.