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Friday,

 March 19, 2010

FHA                  5.500%

VA                    5.375%

30 YR Fixed      5.250%

20 YR Fixed      5.000%

15 YR Fixed      4.500%

SONYMA          4.750%

PHFA               4.950%

1/1 ARM           3.000%

5/1 ARM           4.750%

(APRs available in Loan Programs)

Elmira Savings Bank FSB offers a variety of loan programs to meet your needs. If you don't find what you need listed on our site, please call us to assist you with tailor-made financing.
 
Fixed Rate Loan 30 Year
Fixed Rate Loan 20 year
Fixed Rate Loan 15 Year
SONYMA Low Interest Rate
FHA 30 Year Fixed Rate
VA 30 Year Fixed Rate
PHFA 30 Year Fixed
1/1 Adjustable Rate Mortgage
5/1 Adjustable Rate Mortgage

Rates last updated on Friday, March 19, 2010

Fixed Rate Loan 30 Year

This loan will amortize over a period of 30 years (360 months) at a 'fixed', or level, payment of principal and interest for the life of the loan.

Term: 30 years   Maximum Amount: $417,000
RatesPointsAPR
5.25%0%5.278%

Fixed Rate Loan 20 year

This loan will amortize over a period of 20 years (240 months) at a 'fixed', or level, payment of principal and interest for the life of the loan.

 

Term: 20 years   Maximum Amount: $417,000
RatesPointsAPR
5%0%5.038%

Fixed Rate Loan 15 Year

This loan will amortize over a period of 15 years (180 months) at a 'fixed', or level, payment of principal and interest for the life of the loan.

Term: 15 years   Maximum Amount: $417,000
RatesPointsAPR
4.5%0%4.547%

SONYMA Low Interest Rate

This loan is a special offering through the State of New York Mortgage Agency. The program is designed for first time homebuyers and is subject to income and purchase price limits. Most often, the loan is for a term of 30 years (360 months) but a longer term is available. The payment is 'fixed', or level, for the life of the loan.

Term: 30 years   Maximum Amount: $237,030
RatesPointsAPR
4.75%0%4.75%
 

This type of loan may have a different structure depending on Household Size, Target Areas and Multi-Family homes. The owner must occupy the home. Please contact us for additional information.


FHA 30 Year Fixed Rate

This is a FHA - insured fixed rate mortgage loan that allows for low down payments and up to 6% seller concessions. This product has more liberal credit qualification guidelines than a standard conventional loan.

Term: 30 years   Maximum Amount: $271,050
RatesPointsAPR
5.5%0%5.529%
 

Other loan terms are available - 15 Year, 20 Year and 25 Year.


VA 30 Year Fixed Rate

VA mortgages allow up to 100% financing for eligible military personnel. The qualifying guidelines are more liberal than a standard conventional loan. Maximum financing can be obtained without private mortgage insurance.

Term: 30 years   Maximum Amount: $417,000
RatesPointsAPR
5.375%0%5.403%
 

A Certificate of Eligibility is required. Other loan terms are available - 15 Year and 20 Year. 


PHFA 30 Year Fixed

Pennsylvania Housing Finance Agency provides the capital for safe, affordable homes for older adults, persons of modest means and those with special housing needs. There are eligibility requirements and some unique lending programs involving assistance loans for down payments and closing costs. Please call us for additional details about this Homeownership Program.

Term: 30 years   Maximum Amount: $202,000
RatesPointsAPR
4.95%0%5.244%

1/1 Adjustable Rate Mortgage

This loan will amortize over a period of up to 30 years (360 months). The principal and interest payments adjust annually based on a preselected index plus a margin with rate cap adjustments.

RatesPointsAPR
3%0%4.923%

5/1 Adjustable Rate Mortgage

NO CLOSING COSTS

This loan will amortize over a period of up to 30 years (360 months). The first 5 years (60) have a payment that is 'fixed', or level. Annually thereafter, the principal and interest payments adjust based on a preselected index plus a margin with rate cap adjustments.

 

Term: 30 years  
RatesPointsAPR
4.75%0%5.024%



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $16,680. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.