Adjustable Rate Mortgage Rates

Rates effective as of May 27, 2018.

Adjustable Rate Mortgage

Adjustable Rate MortgageRatesPointsAPRMonthly Payment
5/1 ARM:  30 Year 3.875% 0.00 4.649% $775.89

5/1 ARM Payment Example: The total repayment term for this ARM is 30 years or 360 payments. For the first 60 months, the payment will be $775.89 with a corresponding interest rate of 3.875%; for the remaining 300 months, the estimated payment will be $1237.00 with a corresponding interest rate of 8.875%. The interest rate and monthly payment amount may vary after the first 60 months.

7/1 ARM:  30 Year 4.000% 0.00 4.580% $787.74

7/1 ARM Payment Example: The total repayment term for this ARM is 30 years or 360 payments. For the first 84 months, the payment will be $787.74 with a corresponding interest rate of 4.000%; for the remaining 276 months, the estimated payment will be $1,220.00 with a corresponding interest rate of 9.000%. The interest rate and monthly payment amount may vary after the first 84 months.

10/1 ARM:  30 Year  4.125% 0.00 4.514% $799.67

10/1 ARM Payment Example: The total repayment term for this ARM loan is 30 years or 360 payments. For the first 120 months, the payment will be $799.67 with a corresponding interest rate of 4.125%; for the remaining 240 months, the estimated payment will be $1,185.00 with a corresponding interest rate of 9.125%. The interest rate and monthly payment amount may vary after the first 120 months.

Purchase or Refinance: 60 day rate lock

New Construction New Build: 240 day rate lock

Minimum Loan amount: $25,000; Maximum Loan amount: $453,100

We offer a variety of mortgage options, contact the Mortgage Department at 315-484-2205 for further details.

Felix Melendez  ●  NMLS ID #494173 ●  315-484-2225 ●  fmelendez@solvaybank.com

Trish DeWalt Cazzolli  ●  NMLS ID #589621 ●  315-701-5275 ●  tcazzolli@solvaybank.com

Christian Roque  ●  NMLS ID #23236 ●  315-484-2235 ●  croque@solvaybank.com

* The Annual Percentage Rate (APR) and Monthly Payment calculation is current as of 05/15/2018 and is based on loan amount of $165,000.00 with a $110,000.00 down payment and 0 points.  The APR and monthly payment on Adjustable Rate Mortgages (ARMs) are variable and subject to increase or decrease after the initial period.  Interest rates are subject to change at any time without notice due to market conditions or borrower eligibility. The rates shown are based on rates for well-qualified applicants. Individual rates may vary. Monthly payment does not include property taxes or homeowners insurance.  Your actual monthly payment may be greater. Mortgage Insurance is required if the loan-to-value exceeds 80%.  Homeowners insurance and flood insurance, if applicable, are required.  Subject to credit approval and property appraisal based on secondary market underwriting requirements.  Contact a Mortgage Loan Originator at 315-484-2205 for further details.