Adjustable Rate Residential Mortgages
- Available for one-to-four family owner-occupied and non-owner-occupied residences within our lending area (Non-owner-occupied rates will be higher)
- Wide variety of programs available
- Zero point or one point options available
- Rate lock option available
- Owner-occupied financing up to 97% of the purchase price or the appraised value (lower amount applies) available. LTV’s between 81% and 97% require Private Mortgage Insurance
- Loans in excess of Freddie Mac Ceiling Limits (See Rate Sheet for limits) are eligible.
- FIRST TIME BUYERS are eligible to finance up to a 90% LTV with NO PMI through the 7/1 ARM First Time Buyer Program
- Non-owner-occupied financing up to 80% of the purchase price or the appraised value (lower amount applies)
- Weymouth Bank services their loan!