Loan and Mortgage Rates

¹ The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $220,000 and an estimated property value of $367,000. The property is located in CT and is within Litchfield county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days and the assumed credit score is 740.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner’s insurance premiums and the actual payment will be greater.

² The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $220,000 and an estimated purchase price of $231,600. The property is located in CT and is within Litchfield county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days and the assumed credit score is 700.

Payments do not include taxes and insurance premiums. The actual payment amount will be greater. An escrow account is required and the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

³ The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $220,000 and an estimated purchase price of $245,000. The property is located in CT and is within Litchfield county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days and the assumed credit score is 700.

Payments do not include taxes and insurance premiums. The actual payment amount will be greater. An escrow account is required and the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

⁴ The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $220,000 and an estimated property value of $295,000. The property is located in CT and is within Litchfield county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days and the assumed credit score is 740.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

The rate may increase after consummation. 

At a 4.125% interest rate, the APR for this loan type is 5.162%, subject to increase.  Based on current market conditions, the payment schedule would be:

36 payments of $1,066.23 at an interest rate of 4.125%

323 payments of $1,859.00 at an interest rate of 10.125%

1 payment of $1,859.00 at an interest rate of 10.125%

For example, on a $10,000 30-year loan with an initial interest rate of 4.125%,(an index in effect January, 2019, plus the Margin, adjusted by the interest rate premium, and rounded to the nearest one-eighth of one percentage point (0.125%)), the maximum amount that the interest rate can rise under this loan program is 6.000 percentage points to 10.125%, and the monthly payment can rise from a first-year payment of $48.47 to a maximum of $85.45 in the sixth year.(For example, the initial monthly payment for a 30 year mortgage amount of $60,000 would be $60,000 divided by $10,000 = 6; 6 x $48.47 = $290.82).  These payments are principal and interest only and do not include tax escrow insurance payments.

⁵ The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $1,000,000 and an estimated property value of $1,450,000. The property is located in CT and is within Litchfield county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days and the assumed credit score is 740.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

⁶ The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $1,000,000 and an estimated property value of $1,450,000. The property is located in CT and is within Litchfield county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 45 days and the assumed credit score is 740.

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

The rate may increase after consummation.

At a 4.375%% interest rate, the APR for this loan type is 5.168%%, subject to increase.  Based on current market conditions, the payment schedule would be:

36 payments of $4,992.85 at an interest rate of 4.375%

323 payments of $8,643.00 at an interest rate of 8.375%

1 payment of $8,643.00 at an interest rate of 8.375%

For example, on a $10,000 30-year loan with an initial interest rate of 4.375%,(an index in effect January, 2019, plus the Margin, adjusted by the interest rate premium, and rounded to the nearest one-eighth of one percentage point (0.125%), the maximum amount that the interest rate can rise under this loan program is 6.000 percentage points to 10.375%, and the monthly payment can rise from a first-year payment of $49.93 to a maximum of $87.36 in the sixth year.(For example, the initial monthly payment for a 30 year mortgage amount of $60,000 would be $60,000 divided by $10,000 = 6; 6 x $49.93 = $299.58).  These payments are principal and interest only and do not include tax escrow insurance payments.

⁷ The information provided is based on a $100,000 loan. The property is located in Lakeville, Litchfield county in the State of CT. The property is an existing single family home and will be used as a primary residence. The rate lock period is 0 days. This assumes that the total of all existing mortgages does not exceed 80.% of the property value with an existing Salisbury Bank mortgage.

Interest Rate/APR: Prime Rate as published in the Wall Street Journal, floor rate is currently 4.00%, the rate is variable and subject to change.
Payment: Minimum monthly payment will be based on interest due.
Term: 10 year draw followed by 10 year repayment period.
Balance Due at End of Loan Term: If you make the minimum monthly payment during the repayment period of your loan on or before the due date, the loan will be paid in full after the repayment period ends.
Closing Fees: $100.00 for lines of credit in the amount of $150,000.00 or less.  For lines of credit in the amount of $150,001.00 or greater additional closing fees may apply.

New York State properties will have an additional fee of mortgage tax
Annual Fee: $0.00 Membership or Participation fee:$0.00

Maximum APR is 16.00%

If the loan is secured by a first lien on a dwelling, payments do not include amounts for taxes and insurance premiums. Actual payments will be greater.

Geographic restrictions apply. For more information about consumer loans contact us.

¹Home Equity Loans available only for 1-4 family owner-occupied homes and approved condominiums located in selected geographies in Connecticut, Massachusetts and New York and are not available on cooperatives or properties listed for sale. The Home Equity loan is not a revolving line of credit, but a term loan, which will result in a mortgage on the home. Flood insurance may be required. Minimum loan amount is $25,000. Maximum loan amount is $100,000. Subject to credit approval. Loan program and rates apply to applicants with FICO scores of 700 or higher. Other loan programs available. For loan requests with a Salisbury Bank first mortgage you can borrow up to 80% of the equity in your home (70% for loan requests without a Salisbury Bank first mortgage). There is a $500.00 application fee. New York State mortgage tax applies to loans secured by property located in New York State. Property insurance is required. Consult your tax advisor regarding the deductibility of interest.

²Rate with automatic payment from your Salisbury Bank checking account. This discount only applies for as long as you continue automatic deductions. Rate discounts are subject to change without notice. Normal checking account service charges may apply; please refer to specific account disclosures for details

Geographic restrictions apply. For more information about home equity lines of credit, contact us.

¹Home Equity Lines of Credit are available only for 1-4 family owner-occupied homes and approved condominiums located in selected geographies in Connecticut, Massachusetts and New York and are not available on cooperatives or properties listed for sale. The Home Equity Line of Credit  is a revolving line of credit which will result in a mortgage on the home. Flood insurance may be required. Minimum loan amount is $10,000. Maximum loan amount is $150,000. Subject to credit approval. Other loan programs available. For loan requests with a Salisbury Bank first mortgage you can borrow up to 80% of the equity in your home (70% for loan requests without a Salisbury Bank first mortgage). There is a $100.00 application fee. New York State mortgage tax applies to loans secured by property located in New York State. Property insurance is required. Consult your tax advisor regarding the deductibility of interest.

Geographic restrictions apply. For more information about home improvement loans contact us.

¹Subject to credit approval. Loan program and rates apply to applicants with FICO scores of 700 or higher. Other loan programs are available. Additional terms and conditions may apply. Loan proceeds available for improvements to1-4 family primary and secondary owner-occupied residences only. Minimum loan amount is $1,000. Maximum loan amount is $25,000.

²Rate with automatic payment from your Salisbury Bank checking account. This discount only applies for as long as you continue automatic deductions. Rate discounts are subject to change without notice. Normal checking account service charges may apply; please refer to specific account disclosures for details.

Geographic restrictions apply. For more information about consumer loans contact us.