Conventional Fixed Rate Mortgage Learn More
| Conventional Fixed Rate Mortgage | Rates | Points | APR* | # Payments |
Monthly Payment per $1,000* See statement below** |
|---|---|---|---|---|---|
| 30 Year | 6.875% | 0 | 6.933% | 360 | $6.57 |
| 20 Year | 6.625% | 0 | 6.700% | 240 | $7.53 |
| 15 Year | 6.375% | 0 | 6.468% | 180 | $8.64 |
| 10 Year | 6.250% | 0 | 6.381% | 120 | $11.23 |
| HomeReady Mtg 30 year | 6.875% | 0 | 6.933% | 360 | $6.57 |
Purchase or Refinance: 60 day rate lock
New Construction New Build: 240 day rate lock
New Construction Draw Only: 240 day rate lock
Minimum Loan amount: $25,000; Maximum conforming amount: $766,550.00.
Option to receive a 1/8% (0.125%) discount on the APRs listed above for terms of 10, 15 or 20 years when you have your loan payments automatically deducted from your Direct Rewards, High Interest or Emerald Checking account at Solvay Bank.
*The annual percentage rates (APR) are current as of 04/16/2024. Monthly payment examples are based on a loan amount of $165,000.00 with a $110,000 down payment with .0 points. 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.
**Payment example does not include property taxes and insurance; your actual payment will be higher.
ARM Rates
| Adjustable Rate Mortgage | Rates | Points | APR* | Monthly Payments |
Total Repayment *See statement below for additional information |
| 5/6 ARM: 30 Year | 5.750% | 0.00 | 7.238% | $962.90 | The total repayment for this arm is 30 years or 360 payments. For the first 60 months, the payments will be $962.90 with a corresponding interest rate of 5.750%. For the remaining 300 months the rate and monthly payment may increase. |
| 7/6 ARM: 30 Year | 5.875% | 0.00 | 7.038% | $976.04 | The total repayment for this arm is 30 years or 360 payments. For the first 84 months, the payment will be $976.04 with a corresponding interest rate of 5.875% for the remaining 276 months the rate and monthly payment may increase. |
| 10/6 ARM: 30 Year | 6.000% | 0.00 | 6.804% | $989.26 | The total repayment for this arm is 30 years or 360 payments. For the first 120 months, the payment will be $989.26 with a corresponding interest rate of 6.000% for the remaining 240 months the rate and monthly payment may increase. |
*Payment does not include property taxes and insurance, your actual payment will be higher.
Purchase or Refinance: 60 day rate lock.
New Construction New Build: 240 day rate lock.
Minimum Loan amount: $25,000; Maximum conforming amount: $766,550.00.
*The annual percentage rates (APR) are current as of 12/20/2023. Monthly payment examples are based on a loan amount of $165,000.00 with a $110,000 down payment with 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 will be higher. 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.