**Payment Example (10-Year/6-Month Adjustable Rate): A loan amount of $250,000 with an interest rate of 6.500% and an APR of 7.344% will have a monthly payment of $1,580.17 for years 1-10. For years 11-30, interest rate and payments may change once every 6 months based on any increase or decrease in the Secured Overnight Financing Rate (SOFR) index as outlined in your agreement. Taxes and insurance are not included; therefore, the actual payment obligation will be greater.
The following applies to the 3-year, 5-year, 7-year, and 10-year adjustable-rate mortgage products listed above:
*APR is based on a set of assumptions, which include the following:
- A loan amount of $250,000
- A loan to value of 80% of the total cost to construct plus land purchase price
- A loan processing fee of $850
- An origination point of 1
- A rate floor of 3.000%
- A margin of 3.000% and lifetime rate cap of 5.000%
- A 1-4 family Residential Dwelling
- A property intended to be constructed as your primary place of residence or second home
- A property located in the State of CT
Please contact one of our mortgage experts about our:
- First Time Homebuyer rates
- Jumbo rates for loan amounts greater than $766,550
- 1-4 Family Residential Investment Property rates
- Point options
Actual rate may vary based on property type, occupancy, term, and geography.
Rates advertised are a variable rate and will change every 6 months after the initial fixed period.
Combined Loan to Value (CLTV) up to 80% are available for certain mortgage products, property types and loan amounts.
Hazard Insurance (flood insurance, if applicable) is required.
This is not a commitment to lending; all loans are subject to credit approval and other criteria.
Rates are subject to change without notice.