Adjustable-Rate Mortgage Rates
Effective as of 2/6/2023
Product | Term | Initial Interest Rate | Fully Indexed Rate * | Points | APR1 | Monthly P&I2 Payment (per $1,000) |
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5/6 ARM3 | 30 years | 4.750% | 7.250% | 0.250 | 6.337% | 60 payments of $5.22 300 payments of $6.61 |
7/6 ARM3 | 30 years | 4.990% | 7.250% | 0.250 | 6.185% | 84 payments of $5.36 276 payments of $6.56 |
All rates are subject to change without notice. Payment amounts on the above products do not include taxes and insurance. Your payments 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.
* The Fully Indexed Rate is rounded to the nearest 1/8.
1 Annual Percentage Rate (APR) is based on a single-family primary residence property with a loan amount of $400,000 and using the current 30-day SOFR average index. APR is subject to change based on factors such as points, loan amount, loan-to-value, borrower’s credit and property type. All rates are subject to change without notice. Subject to credit approval.
2 Principal and Interest (P&I)
3 Adjustable Rate Mortgage (ARM) Rates are available on a 1 unit, primary residence, purchase or rate and term refinance up to the conforming loan limit. Maximum loan to value of 80% and with a FICO Score of 700 or a loan to value of 75% and with a FICO Score of 680. Rates may vary based on other scenarios. All rates are subject to change without notice. The adjustable rate programs are based on a 30-year term. Rates and payments after the initial fixed period (number of payments 61-360 or 85-360) on ARM programs are based on the margin plus the current index. The interest rate on adjustable rate programs may increase after the initial term, the rate may change every 6 months and is based on the 30-day SOFR average index as published by the Federal Reserve Bank of New York plus a margin of 3.00%. StonehamBank updates the SOFR index weekly each Wednesday. Subject to credit approval.