print this page

Loan Rates

 

Rates Effective 3/21/14

The Interest Rate and Annual Percentage Rate  (APR) are as of the Effective Date and are subject to change without notice. Please call 860-928-7921 to obtain the most current information.

Fixed Rate Mortgages| Adjustable Rate Mortgages|Home Equity Line of Credit| Home Equity Installment Loan| Personal Installment Loan| Automobile Loan| Debt Consolidation Loan|

 

Fixed Rate Mortgages 

With a fixed rate you can have a monthly payment that fits your budget and doesn’t change for the life of the mortgage. A variety of fixed rate terms are available. Payments do not include taxes and insurance. Your actual payment obligations will be greater.

Mortgage Maximum Term Interest Rate APR Monthly Payment per $100,000 Financed
10 Year Term 120 Months 3.500% 3.620% $988.86
15 Year Term 180 Months 3.500% 3.583% $714.88
20 Year Term 240 Months 4.250% 4.316% $619.23
30 Year Term 360 Months 4.500% 4.549% $506.69

 

APRs are based on a 20% down payment.  Lower down payments available. Actual interest rates and APRs may vary based on credit history, appraised value, determination of mortgage insurance availability and mortgage program. Origination fee and closing costs apply. Subject to credit approval. Homeowners insurance is required. Flood insurance may apply. Other conditions may apply. Rates are available for 1-4 family primary residences and single family second homes.  Interest rates and APRs are subject to change without notice.

Are you interested in estimating payments for your specific situation? Visit our Calculators and use our MORTGAGE CALCULATOR. 

Top of Page

 
 

Adjustable Rate Mortgages

Our adjustable rate products offer the same payment amount  for defined periods of time depending on the product you choose. Rate caps limit rate changes at each adjustment period and protect you from payment shock.  Payments do not include taxes and insurance.  Your actual payment obligations will be greater.

ARM Term Interest Rate APR Monthly Payment per $100,000 Borrowed
1/1

Months 1-12 

Months 13- 348 

2.90%

2.90%

2.949%

$416.23

$416.23

3/1

Months 1 -36

Months 37-  324 

3.125%

3.125%

3.165%

$428.38

$428.38

5/1

Months 1 - 60

Months 61 - 300

3.250% 

3.250% 

3.301%

$435.21

$435.21

7/1

Months 1 -84

Months 85 -  276 

3.500% 

3.500%

3.541%

$449.04

$449.04

 

Interest rates and payments may increase or decrease after consummation of loan.  Interest  rate adjustments are based on an interest rate index and margin value as described in the ARM Disclosure. Since the index in the future is unknown, the adjusted rate displayed is based on the current index plus margin (fully indexed rate) at the time of the discloser. 

  • For 1/1 Rate and payment adjustment will occur annually.
  • For 3/1 Rate and payment adjustment will occur annually after the fixed period of 3 years.
  • For 5/1 Rate and payment adjustment will occur annually after the fixed period of 5 years.
  • For 7/1 Rate and payment adjustment will occur annually after the fixed period of 7 years.

***3/1 90 year ARM for $200,000 with initial Interest Rate of 2.90% (2.949% APR) – your monthly payment for years 1 through 3 would be $865.76 and for years 4 through 30 the monthly payment would be $856.76 based on the current index plus margin.  Monthly payments do not include taxes and insurance, your actual payment obligation will be greater.  Your variable interest rate is subject to a floor of your initial interest rate.  The index for this loan program is as disclosed in the ARM Disclosure

Annual Percentage Rates are based on a 20% down payment. Lower down payments are available. Origination fee and closing costs apply. Subject to credit approval.  Homeowners insurance is required. Flood insurance may apply. Other conditions may apply. Rates are available for 1 - 4 family, owner-occupied properties and approved condominiums.  Interest rates and APRs are subject to change without notice.

Are you interested in estimating payments for your specific situation? Visit our Calculators and use our ADJUSTABLE RATE MORTGAGE PAYMENT. 

 

Top of Page

 

Home Equity Line of Credit

Make borrowing money as convenient as writing a check with a line of credit that is secured by a 1-4 family owner-occupied property or approved condominium.   The Annual Percentage Rate adjusts to the Prime Rate as published in the Wall Street Journal.  The APR is Prime + 0%. The minimum Line amount is $10,000.

Product Maximum Term Current Interest Rate APR Maximum Line Amount
HELOC 238 Months 3.25% 3.25% $150,000

 

APR is variable and may increase or decrease after consummation of loan. Interest rates and APRs are subject to change without notice. The APR can never go below 0%.  Maximum APR is 18%.  Borrower can obtain credit advances for 9 years and 10 months during the “draw period” and make monthly interest payments (and principal, if so desired). After the draw period ends, borrower will no longer be able to obtain credit advances and must pay the outstanding balance in monthly installments of principal and interest over the next 10 years (the repayment period).   Maximum loan to value is 80%. Homeowners insurance is required. Flood insurance may apply.  Subject to credit approval.  No closing costs are charged to the borrower; however, if the credit line is closed within 5 years, all closing fees paid by the bank will be recouped from the borrower. On average the standard recoupment fee is $330 (this is standard but does change).  No transaction or activity charges apply; no membership or participation fees apply.

 

Top of Page

 

 

Home Equity Installment Loan

The Annual Percentage Rate (APR) remains fixed for the term of the loan.

Loan Type Maximum Term Interest Rate APR Monthly Payment per $1,000 Financed
1-5 Years 60 Months 4.000% 4.000% $18.42
6-10 Years 120 Months 4.500% 4.500% $10.37
11-15 Years 180 Months 4.750% 4.750% $7.78

 

Loan can be secured with 1-4 family, owner-occupied properties and approved condominiums .  Maximum loan to value is 80%.  Minimum loan amount is $5,000.  There is an origination fee of $250 on loan requests under $25,000. Payments do not include taxes and insurance. Actual payments may be greater with escrow.  Homeowners insurance is required. Flood insurance may apply.  Subject to credit approval.  Other conditions may apply. Interest rates and APRs are subject to change without notice.

Top of Page

 

 

Personal Installment Loan
 

Loan Type Maximum Term Interest Rate APR Monthly Payment per $1,000 Financed
Secured Loan 60 Months as low as 6.83% as low as 6.83% $19.73
  48 Months as low as 6.68% as low as 6.68% $23.80
  36 Months as low as 6.53% as low as 6.53% $30.67
Unsecured Loan 60 Months as low as 8.78% as low as 8.78% $20.66
  48 Months as low as 8.63% as low as 8.63% $24.72
  36 Months as low as 8.48% as low as 8.48% $31.56

 

 All consumer loan rates may vary based on credit, loan term, loan to value ratio and age of collateral. Subject to credit approval. Rates are subject to change without notice. APRs quoted above assume excellent borrower credit history. Your actual interest rate and  APR may vary subject to your individual credit history. Interest rates and APRs are subject to change without notice. Commercial or business loan rate quotes are available from lender.

 

Top of Page

 

Automobile Loan

Loan Type Maximum Term Interest Rate APR Monthly Payment per $1,000 Financed
New Auto Loan 60 Months as low as 4.13% as low as 4.13% $18.48
  48 Months as low as 3.98% as low as 3.98% $22.58
  36 Months as low as 3.83% as low as 3.83% $29.45
Used Auto Loan 60 Months as low as 4.93% as low as 4.93% $18.84
  48 Months as low as 4.78% as low as 4.78% $22.94
  36 Months as low as 4.63% as low as 4.63% $29.81

 

 All consumer loan rates may vary based on credit, loan term, loan to value ratio and age of collateral. Subject to credit approval. Rates are subject to change without notice. APRs quoted above assume excellent borrower credit history. Your actual interest rate and  APR may vary subject to your individual credit history. The rates above are for consumer automobiles registered in individual names. Interest rates and APRs are subject to change without notice. Commercial or business loan rate quotes are available from lender.

 

Top of Page

 

Debt Consolidation Loan
 

Maximum Term Interest Rate APR Monthly Payment per $1,000 Financed
60 Months 14.99% 14.99% $23.79

 

Subject to credit approval. Interest rates and APRs are subject to change without notice.

 

Top of Page

 

  • All Annual Percentage Rates and terms are subject to Citizens National Bank underwriting guidelines.
  • All loans are subject to credit approval.
  • Rates and programs are subject to change without notice.

 

Top of Page