Conventional Fixed Rate Mortgage Rates

Rates effective as of May 3, 2016.

Conventional Fixed Rate Mortgage

Conventional Fixed Rate MortgageRatesPointsAPR
30 Year 3.625% 0 3.644%
30 Year 3.500% 0.5 3.559%
30 Year 3.375% 1 3.474%
25 Year Bi-Weekly 3.375% 0 3.387%
20 Year 3.375% 0 3.401%
20 Year 3.250% 0.5 3.332%
20 Year 3.125% 1 3.264%
15 Year 2.750% 0 2.783%
15 Year 2.625% 0.5 2.730%
15 Year 2.500% 1 2.676%
10 Year 2.625% 0 2.674%
10 Year 2.500% 0.5 2.653%
10 Year 2.375% 1 2.632%
7 Year 2.500% 0 2.568%

HomeReady MortgageRatePointsAPR
30 Year 4.000% 0.0 4.019%

On a 30 year mortgage, with 0 points, for $165,000.00 with an interest rate of 3.625% (3.644% APR) and a minimum down payment of 20% ($206,250 purchase price with $41,250 down payment), the principal and interest payment would be $752.48 per month. Monthly payment does not include property taxes or homeowners insurance, your actual payment will be greater.

Minimum loan amount: $25,000

Maximum conforming loan amount: $417,000

For Jumbo loans (over $417,000), add 0.50% to conventional rates

Rates subject to change without notice

All loans subject to secondary market underwriting requirements

Contact Solvay Bank Mortgage Department for further details at 315-484-2205.