Mortgage Rates & Terms


Rates shown below were in effect on December 5, 2018. (Rates may change several times a day and may have changed from those below).

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Fixed Rates
- Get peace of mind knowing your monthly principal and interest payments won't change over the life of your loan.

Term: 30 Years Fixed
Maximum Amount: $453,100
(For information on our Fixed Jumbo Mortgages, please contact one of our Mortgage Specialists)

Interest Rate1 Annual
Percentage
Rate (APR)
Points Cost Per
Thousand
4.500% 4.700% 0.700 $5.07
4.625% 4.784% 0.200 $5.14
4.750% 4.893% 0.000 $5.22

 

Term: 15 Years Fixed
Maximum Amount: $453,100
(For information on our Fixed Jumbo Mortgages, please contact one of our Mortgage Specialists)

Interest Rate1

Annual
Percentage
Rate (APR)

Points Cost Per
Thousand
4.000% 4.288% 0.800 $7.40
4.125% 4.326% 0.200 $7.46
4.250% 4.422% 0.000 $7.52

Rates above effective as of 12/5/2018 and are subject to change. Rate may be different than those shown depending on loan amount, borrower credit worthiness and other factors. Contact a Mortgage Specialist for more information.

APR calculations are based on a FICO score of 750, a down payment of 20% and a loan amount of $250,000. Payments shown do not include taxes or insurance, therefore your payment will be greater. Rates may change several times a day and may have changed from those above. Contact a Mortgage Specialist for current rates.

1Rates shown are for single family, owner-occupied, primary residences, and for which there is a 20% down payment for purchases or a maximum of 80% financing for refinances. The payment is for monthly principal and interest only. Terms for Jumbo Mortgage amounts in excess of $1,000,000 vary.


Adjustable Rates
- An Adjustable rate mortgage (ARM) provides borrowers with an initial lower monthly payment. With an ARM, the interest rate changes periodically, usually in relation to an index, and payments may go up or down accordingly.

(Example - 3/1 ARM, is for an ARM with a 3-year fixed interest-rate period and subsequent 1-year interest-rate adjustment periods).

    • For 1-4 family, owner-occupied, primary residences.
    • A 30 year amortization period.
    • A 2% cap per rate adjustment and 6% lifetime cap.
    • Rate lock-in options are available.


3/1 ARM

Loan Type1 Interest Rate
(first 36 months)
Points Annual Percentage
Rate (APR2)
Cost Per
$1,000 Borrowed
Remaining Months3
(324 Months)
Cost Per $1,000 Borrowed Loan Amount
3/1 ARM 3.750% 0.5 5.194% $4.63 5.50% $5.59 <$453,100
3/1 ARM 3.750% 0.5 5.194% $4.63 5.50% $5.59 $453,101-$750,000
3/1 ARM
JUMBO
4.125% 0.5 5.284% $4.84 5.50% $5.61 > $750,0004


5/1 ARM

Loan Type1 Interest Rate
(first 60 months)
Points Annual Percentage
Rate (APR2)
Cost Per
$1,000 Borrowed
Remaining Months3
(300)
Cost Per $1,000 Borrowed Loan Amount
5/1 ARM 4.000% 0.0 5.011% $4.77 5.500% $5.55 <$453,100
5/1 ARM 4.000% 0.0 5.011% $4.77 5.500% $5.55 $453,101-$750,000
5/1 ARM
JUMBO
4.375% 0.5 5.193% $4.99 5.500% $5.58 > $750,0004

 

7/1 ARM

Loan Type1 Interest Rate
(first 84 months)
Points Annual Percentage
Rate (APR2)

Cost Per
$1,000 Borrowed
Remaining Months3
(276 months)
Cost Per $1,000 Borrowed Loan Amount
7/1 ARM 4.250% 0.5 5.002% $4.92 5.500% $5.53 <$453,100
7/1 ARM 4.250% 0.5 5.002% $4.92 5.500% $5.53 $453,101-$750,000
7/1 ARM
JUMBO
4.625% 0.5 5.184% $5.14 5.500% $5.58 > $750,0004

Rates above effective as of 12/5/2018 and are subject to change. Rate may be different than those shown depending on loan amount, borrower credit worthiness and other factors. Contact a Mortgage Specialist for more information.

2APRs reflect a discount for making automatic payments from a BankRI account. Rates and monthly payments will adjust after the third, fifth or seventh year depending on the loan type selected, and each year thereafter. Rate adjustments are capped at 2% per adjustment and 6% for the life of the loan. Adjusted rates are based on an index of the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year (as published by the Federal Reserve Board in Selected Interest Rates Publication H15) plus a margin of 2.75%. Rates apply to loans for which there is a 20% down payment for purchases or a maximum of 80% financing for refinances. The payment is for monthly principal and interest only for the first three, five or seven years depending on which loan type selected. Property insurance is required.
3Fully Indexed rates and payment examples are estimates of what could apply for the remaining term of the loan based on the current index. Actual interest rates and payments will adjust in accordance with the terms of the loan.

4Terms for Jumbo ARM amounts in excess of $1,999,999 vary. Speak to a Mortgage Specialist for more information.