Loan Rates
Below are Massena Savings and Loan's current loan rates:
Last Updated: 1 October 2018
Conventional Real Estate Mortgages
| Account Type | Rate/APR | Points | Loan to Value % | Max Term | Index | Caps |
|---|---|---|---|---|---|---|
| 3 Year ARM | 4.50% | 0 Res | 85% | 25 yrs | National Average | Life: Max+6%, Min4.0% |
| 3 Year ARM | 7.50% | 0 Rental | 70% | Mtg. Contract Rate | Life: Max+6%, Min5% | |
| 5 Year ARM | 4.50% | 0 Res | 85% | 25 yrs | National Average | Life: Max+6%, Min4.0% |
| 5 Year ARM | 7.75% | 0 Rental | 70% | Mtg. Contract Rate | Life: Max+6%, Min5% | |
| Fixed Rate | 5.25% | 0 Res | 85% | 15 yrs | ||
| Fixed Rate | 8.00% | 0 Rental | 70% | 15 yrs | ||
| Fixed Rate | 5.75% | 0 Res | 85% | 20 yrs | ||
| Fixed Rate | 8.50% | 0 Rental | 70% | 20 yrs | ||
| Fixed Rate | 5.90% | 0 Res | 85% | 25 yrs | ||
| Fixed Rate | 9.50% | 0 Rental | 70% | 25 yrs |
Home Equity Lines of Credit
| Account Type | Rate/APR | Points | Loan to Value % | Max Term | Index | Caps |
|---|---|---|---|---|---|---|
| HELC | % | 0 | 85% | 5 yr Renewable | Prime+ 1.50 | Life: Max+6%, Min4% |
Consumer Loans
| Account Type | Rate/APR | Points | Loan to Value % | Max Term | Index | Caps |
|---|---|---|---|---|---|---|
| Home Improvement | 9.00% | Sec | 100% | 10 yrs | Max 20,000 | |
| Home Improvement | 14.00% | Unsec | 100% | 10 yrs | Max 20,000 | |
| Auto - New | 3.50% | Sec | 100% of INV OR NADA RETAIL | 6 yrs | 2018 - 2016 | |
| Auto - Used | 5.50% | Sec | 100% of INV OR NADA RETAIL | 5 yrs | 2015 - 2013 | |
| Auto - Used | 6.75% | Sec | 100% of INV OR NADA RETAIL | 4 yrs | 2012 - Older | |
| Other | 6.50% | Sec | 100% | 7-9 yrs | ||
| Other | 7.00% | Sec | 100% | 10-12 yrs | ||
| Other | 7.50% | Sec | 100% | 13-15 yrs | ||
| Other | 12.00% | Unsec | 5 yrs | |||
| Fixed Deposit | 4.5% | Sec | 90% | 1-10 yrs |
- * Of appraised value or sale price, whichever is less.
- ** Annual percentage rate same as interest rate.
- **Rate/APR will be determined by credit score. (see below).
- Tier 1 (score 700 - above) see rates above
- Tier 2 (score 650 - 699) add 1% to rates above
- Tier 3 (score 649 - below) add 3% to rates above
- (Joint applicants will be based on higher score.)
