First Time Home Buyers Program
Our primary market is Cape Ann, Massachusetts
We employ a staff of mortgage specialists who are on hand to answer your questions, and they can work with you to find a mortgage or loan option that leaves you feeling confident and satisfied.
Mortgage payments per $1,000.00 do not include taxes and insurance. The actual payment obligation will be greater.
|Type||Term||Interest Rate||Points||Annual Percentage|
|Monthly Payment per $1,000|
|7/1 ARM||30 Years||3.625%||0||3.92%*||84@ $4.56||276 @ $4.75|
|10/1 ARM||30 Years||3.750%||0||3.85%*||120@ $4.63||240@ $4.73|
*Annual Percentage Rate based on 5% down payment with private mortgage insurance.
Available to first time homebuyers (affidavit required) for the purchase of 1 - 4 family, owner occupied residences.
Minimum down payment 5% (own funds); Primary Mortgage Insurance may be required on loan to value ratios in excess of 80%.
Qualifying income ratios: 33% and 38%.
1% Cap per adjustment, 5% Lifetime Cap
Rates are applicable as of 3/30/2017.
Trust & Financial