Building, buying or refinancing, you’ll feel at home with us.
A home is one of the biggest financial purchases of your life. At Merrimack County Savings Bank, we put a lot of thought into customizing a loan to best suit your needs. We’ve developed a hassle-free process that lets you concentrate on bigger plans.
We keep track of all the financing details so you can focus on the finer points of making a house your home. We’re comprised of experienced local specialists who have a unique understanding of the market. So whether you’re building, buying or refinancing, you’ll feel at home with us.
| Name | Term Years | Example Loan Amount | Loan To Value | Initial Rate | Points | Ppfc | Apr | Monthly Payment | Total Paid At End Of Loan | |
|---|---|---|---|---|---|---|---|---|---|---|
| Fixed 30 Years - Retained | 30 | 200000 | 2.990 | 0 | 1510 | 3.049 | 842.13 | 303166.73 | ||
| Fixed 15 Years - Retained | 15 | 200000 | 2.750 | 0 | 1510 | 2.857 | 1357.24 | 244303.79 | ||
| Fixed 30 Years Investment - Retained | 30 | 200000 | 4.750 | 0 | 1510 | 4.815 | 1043.29 | 375586.08 | ||
| Portfolio Fixed - 30 Years | 30 | 200000 | 3.250 | 0 | 1510 | 3.310 | 870.41 | 313348.55 | ||
| Portfolio Fixed -15 Years | 15 | 200000 | 3.000 | 0 | 1510 | 3.108 | 1381.16 | 248609.39 | ||
| Jumbo Fixed - 30 years | 30 | 548251 | 3.250 | 0 | 1510 | 3.272 | 2386.02 | 858968.28 | ||
| Jumbo Fixed - 15 Years | 15 | 548251 | 3.000 | 0 | 1510 | 3.040 | 3786.12 | 681501.73 | ||
| Construction 30 Year Fixed | 30 | 200000 | 3.250 | 0 | 3935 | 3.405 | 870.41 | 313348.55 |
All Rates are quoted for a 65 day lock. Other lock periods are available. Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater.
Fixed Released and Retained Rates quoted are based on loans with a 40% down payment, a maximum loan amount of $548,250 single family dwellings. To qualify for rates quoted a minimum credit score of 740 and other underwriting requirements must be met.
Portfolio, Jumbo and Construction Loans: Maximum loan to value calculations vary based on property type and occupancy status.
APR and Fees:
- APR = Annual Percentage Rate.
- Released Programs include escrows for taxes and insurance.To waive escrows, a fee of .25% of the loan amount will be charged. The APRs reflect a $475 document prep fee, $20 flood certification fee, $275 Underwriting Fee, $150 transaction fee, $625.00 Settlement Fee,$25 closing protection letter, daily interest and $80 tax related service fee for a purchase.
- Retained and Portfolio APRs reflect a $475 document prep fee, $20 flood certification fee, $275 Underwriting Fee, $625.00 Settlement Fee, $25 closing protection letter, daily interest and $90 tax related service fee for a purchase.
- Construction loans include a 1% construction fee on the first $500,000 of construction funds and then 1/2% of the excess amount above $500,000, for a 12 month construction period. Modular construction loan fees will cap out at the maximum construction loan fee of $5,000. Self-Builds will have a two (2)% construction fee schedule for a 12 month construction period.
- APRs on construction loans include a 1% construction fee, $475 document prep fee, $20 flood certification fee, $90 tax related service fee, $275 underwriting fee, $625.00 Settlement Fee, $25 closing protection letter, $250 plot plan fee and $175 lender inspection fee.
| Name | Term Years | Payments In First Adjustment Period | Loan Amount Example | Discount Or Premium Rate | Initial Rate Percentage | Points | Margin Percentage | Annual Cap | Lifetime Cap | Arm Index Value | Interim Go To | Fully Indexed Rate | Floor | Ppfc | Months Between Adjustments | Interest Only Amount Months | Interest Note | Annual Percentage Rate | Monthly Payment | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5/1 ARM | 30 | 60 | 200000 | discount | 3.375 | 0 | 3.875 | 2 | 6 | 0.10 | 4 | 3.875 | 1510 | 12 | 3.840 | PMT #1: 884.19 4th Balance: 0.00 PMT 4th: 0.00 BAL X: 179006.35 PMT X: 944.86 BAL Last: 941.72 PMT Last: 944.97 | ||||
| 7/1 ARM | 30 | 84 | 200000 | discount | 3.250 | 0 | 3.875 | 2 | 6 | 0.10 | 4 | 3.875 | 1510 | 12 | 3.711 | PMT #1: 870.41 4th Balance: 0.00 PMT 4th: 0.00 BAL X: 169038.63 PMT X: 937.74 BAL Last: 934.63 PMT Last: 937.85 | ||||
| 10/1 ARM | 30 | 120 | 200000 | discount | 3.625 | 0 | 3.875 | 2 | 6 | 0.10 | 4 | 3.875 | 1510 | 12 | 3.831 | PMT #1: 912.10 4th Balance: 0.00 PMT 4th: 0.00 BAL X: 155541.80 PMT X: 942.55 BAL Last: 939.42 PMT Last: 942.66 | ||||
| 7/1 ARM Construction | 30 | 84 | 200000 | discount | 3.250 | 0 | 3.875 | 2 | 6 | 0.10 | 4 | 3.875 | 3935 | 12 | 3.792 | PMT #1: 870.41 4th Balance: 0.00 PMT 4th: 0.00 BAL X: 169038.63 PMT X: 937.74 BAL Last: 934.63 PMT Last: 937.85 | ||||
| 10/1 ARM Construction | 30 | 120 | 200000 | discount | 3.625 | 0 | 3.875 | 2 | 6 | 0.10 | 4 | 3.875 | 3935 | 12 | 3.920 | PMT #1: 912.10 4th Balance: 0.00 PMT 4th: 0.00 BAL X: 155541.80 PMT X: 942.55 BAL Last: 939.42 PMT Last: 942.66 | ||||
| Land Loan (1 year ARM) | 20 | 12 | 200000 | discount | 3.625 | 0 | 4.25 | 2 | 6 | 0.10 | 4.375 | 4.25 | 1510 | 12 | 4.379 | PMT #1: 1172.81 4th Balance: 0.00 PMT 4th: 0.00 BAL X: 193061.79 PMT X: 1248.36 BAL Last: 1243.83 PMT Last: 1248.51 | ||||
| Land Loan (3/1 ARM) | 20 | 36 | 200000 | premium | 4.625 | 0 | 4.25 | 2 | 6 | 0.10 | 4.375 | 4.25 | 1510 | 12 | 4.542 | PMT #1: 1278.83 4th Balance: 0.00 PMT 4th: 0.00 BAL X: 180422.88 PMT X: 1255.26 BAL Last: 1250.70 PMT Last: 1255.41 |
Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater. Monthly Payments are calculated using a $200,000 loan amount and the maximum term unless otherwise stated.
- APR = Annual Percentage Rate. ARM = Adjustable Rate Mortgage; APR may increase at adjustment period. For Adjustable rates, fully indexed rate is the 1 year treasury plus margin. Maximum loan to value calculations vary based on property type and occupancy status. All APRs assume 20% downpayment.
- Construction loans include a 1% construction fee on the first $500,000 of construction funds and then 1/2% of the excess amount above $500,000, for a 12 month construction period. Modular construction loan fees will cap out at the maximum construction loan fee of $5,000. Self-Builds will have a two (2)% construction fee schedule for a 12 month construction period.
- Caps are 2/6 on all ARM products
- APRs for land loans reflect a $475 document prep fee, $20 flood certification fee $90 tax related service fee and $275 underwriting fee, $625.00 settlement fee and $25 closing protection letter. APRs on construction loans include a 1% construction fee, $475 document prep fee, $20 flood certification fee, $90 tax related service fee, $275 underwriting fee, $625.00 settlement fee, $25 closing protection letter, $250 plot plan fee and $175 lender inspection fee.