Conventional Fixed Rate Mortgage Rates

Rates effective as of August 24, 2016.

Conventional Fixed Rate Mortgage

Conventional Fixed Rate MortgageRatesPointsAPR
30 Year 3.250% 0.25 3.292%
30 Year 3.125% 0.5 3.187%
30 Year 3.000% 1 3.101%
25 Year Bi-Weekly 3.000% 0 3.020%
20 Year 3.000% 0 3.031%
20 Year 2.875% 0.5 2.962%
20 Year 2.750% 1 2.892%
15 Year 2.500% 0 2.540%
15 Year 2.375% 0.5 2.486%
15 Year 2.250% 1 2.432%
10 Year 2.500% 0 2.559%
10 Year 2.375% 0.5 2.538%
10 Year 2.250% 1 2.517%
7 Year 2.375% 0 2.457%

HomeReady MortgageRatePointsAPR
30 Year 3.625% 0.0 3.648%

On a 30 year mortgage, with 0.25 points, for $165,000.00 with an interest rate of 3.250% (3.292% APR), a minimum FICO score of 740, and a minimum down payment of 20% ($206,250 purchase price with $41,250 down payment), the principal and interest payment would be $718.09 per month. The credit characteristics may affect the interest rate. 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.