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Residential Lending Current Rates

Mortgage Rates effective July 13, 2018 Email a Friend Download PDF

Fixed Mortgage Rates
Loan Program
Interest Rate(1)
Points
APR (2)
Monthly Payment Per $10,000
Borrowed
30-Year Fixed Rate(1)
Up to $453,100
4.625%
0
4.65%
$51.41
15-Year Fixed Rate(1)
Up to $453,100
4.000%
0
4.04%
$73.97
10-Year Fixed Rate(3)
Up to $1,000,000
3.625%
0
3.68%
$99.47

Payments do not include taxes or insurance. Actual payments may be greater.
(1) Your interest rate may vary based on FICO score, loan amount, loan term, etc.
(2) Annual Percentage Rate (APR) assumes 20% down payment or equity on 1-4 family, owner-occupied primary residence and $453,100 loan amount. Property insurance is required. Rate subject to change at any time. Subject to credit approval.
(3) The Interest Rate reflects .25% rate reduction under the Premier Plus Mortgage Discount Program. Please speak to a Loan Officer for more information on eligibility requirements.

Adjustable Rate Mortgages (ARMs)
Loan Program Initial Interest Rate(1) Effective Period Monthly Payment Per $10,000 Borrowed (initial) Subsequent Rate (2) Effective Period (3) Monthly Payment Per $10,000 Borrowed (subsequent) Points APR (4)
5/3 ARM(1)
Up to $1,000,000
3.625% First 60 Months $45.61 5.375% 300 Months $55.20 0 4.83%
7/3 ARM(1)
Up to $1,000,000
3.875% First 84 Months $47.03 5.375% 276 Months $54.24 0 4.74%

Payments do not include taxes or insurance. Actual payments may be greater.
(1) The Initial Interest Rate reflects .25% rate reduction under the Premier Plus Mortgage Discount Program. Please speak to a Loan Officer for more information on eligibility requirements.
(2) As of July 6, 2018 the "index" value of weekly average yield on United States Treasury securities adjusted to a constant maturity of 3 years is 2.64% as published by the Federal Reserve Board in Selected Interest Rates Publication H15. A "Margin" of 2.75% is applied to the index and the result rounded to nearest one-eighth of percentage point to derive the "Fully Indexed Rate" which is the Subsequent rate disclosed above. The Subsequent Rate and APR that will apply to your loan may be different and will depend on the index value in effect at the time of rate adjustment.
(3) The Effective Period for the Subsequent Rate is based on an assumption that it will remain in effect for the remainder of the loan. However, the Subsequent Rate for you loan will adjust every 36 months after the initial period. At each adjustment, the rate will not increase or decrease by more than 2% from the prior rate and the rate will never exceed 5% over the initial rate.
(4) Annual Percentage Rate (APR) assumes 30-year loan term and 20% down payment or equity on 1-4 family, owner-occupied primary residence and $453,100 loan amount. The APR is variable-rate and may increase after consummation. Property insurance is required. Rate subject to change at any time. Subject to credit approval.

Home Equity Lines of Credit (HELOCs)
Loan Program Interest Rate Floor Rate Max Rate APR (1) Draw Period Repayment Period
Premier Plus Level (1) Prime minus .60% 3.50% 18.00% 4.40% 20 Years 10 Years

(1)Interest Rate and Annual Percentage Rate (APR) reflects rate reduction under the Premier Plus Lending Discount Program, which requires automatic deduction from Premier Plus Checking and combined daily deposit balance of $25,000. Clients of Wellesley Bank's subsidiary are also eligible for rate reduction with automatic deduction from Wellesley Bank checking account. Otherwise, the Interest Rate and APR will be Prime Rate plus .25%. The Prime Rate as published by the Wall Street Journal is 5.00% as of 06/14/18.
(2) Interest Rate and APR for 1-4 family, owner occupied primary residence or second home with max loan-to-value 80%, subject to change at any time. Interest Rate and APR are variable-rates and may increase after consummation. The maximum APR that may apply is 18%. All standard closing costs including legal, recording, credit report, flood zone certification and appraisal fee will be absorbed by the Bank. An early termination fee of $500 will apply if the line is closed within the first 24 months. Property and flood insurance is required. Please consult a tax advisor regarding the deductibility of interest and charges. Subject to credit approval.