Loan and Mortgage Rates

Rates are subject to change without notice. APR is defined to mean Annual Percentage Rate. $ per $1,000 means monthly payment per $1,000 borrowed.  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.

Residential Mortgages - Current Rates

Effective Date: Tuesday, November 19, 2019

Residential Mortgages - Current Rates

Program Name RateAPR

15 Year Fixed (Conforming)1

3.2503.389Apply

20 Year Fixed (Conforming)1

3.6253.736Apply

30 Year Fixed (Conforming)1

3.7503.830Apply

1st Time Buyer (Conforming)2

3.8753.935Apply

Make A Change (Conforming)3

4.0004.082Apply

3/1 ARM (Conforming)4

3.1254.168Apply

5/1 ARM (Conforming)4

3.2504.051Apply

7/1 ARM (Conforming)4

3.3753.982Apply

15 Year Jumbo (Jumbo)5

3.7503.802Apply

20 Year Jumbo (Jumbo)5

4.1254.168Apply

30 Year Jumbo (Jumbo)5

4.2504.282Apply

3/1 Jumbo (Jumbo)6

3.3754.174Apply

5/1 Jumbo (Jumbo)6

3.5004.090Apply

7/1 Jumbo (Jumbo)6

3.6254.049Apply

HELOC (Other)7

4.7504.750Apply

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%

Fixed Rate Home Equity Loans1

Effective Date: Tuesday, November 19, 2019

Fixed Rate Home Equity Loans1

RateAPR$ per $1,000Terms
5 Year (60 Months) 5.00%5.00% $18.87Rate with automatic payment from your Salisbury Bank checking account.2Apply
7 Year (84 Months)5.25% 5.25%$14.25Rate with automatic payment from your Salisbury Bank checking account.2Apply
10 Year (120 Months)5.50%5.50%$10.85Rate with automatic payment from your Salisbury Bank checking account.2Apply
5 Year (60 Months)5.125% 5.125%$18.93Apply
7 Year (84 Months) 5.375%5.375% $14.31Apply
10 Year (120 Months)5.625%5.625%$10.92Apply

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

Home Equity Line of Credit1

Effective Date: Tuesday, November 19, 2019

Home Equity Line of Credit1

RateAPR$ per $1,000Terms
View current rates and termsApply

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.

Home Improvement Loans1

Effective Date: Tuesday, November 19, 2019

Home Improvement Loans1

RateAPR$ per $1,000Terms
36 Months 3.99% 3.99%$29.52Unsecured, with automatic payment from your Salisbury Bank checking account.2How to Apply
48 Months4.50%4.50% $22.80Unsecured, with automatic payment from your Salisbury Bank checking account.2How to Apply
60 Months4.99%4.99%$18.87Unsecured, with automatic payment from your Salisbury Bank checking account.2How to Apply
36 Months4.99%4.99%$29.97UnsecuredHow to Apply
48 Months5.50%5.50% $23.26UnsecuredHow to Apply
60 Months5.99%5.99%$19.33UnsecuredHow to Apply

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.

Consumer Loans

Effective Date: Tuesday, November 19, 2019

Consumer Loans

Fixed RateRateAPR$ per $1,000Terms
Salisbury Bank Deposit Secured Loan4.50%4.50% $18.64 60 months Max 95% LTVHow to Apply
Home Improvement Loan6.99%6.99%$19.8060 months, unsecured Max loan amount $10,000.00How to Apply
New Auto Loan 4.25% 4.25%$22.69Up to 48 months Max 90% LTVHow to Apply
New Auto Loan 4.50% 4.50% $18.64 Up to 60 months Max 90% LTVHow to Apply
Used Auto Loan (2014-2018)5.00%5.00%$18.87Up to 60 months Max 90% LTVHow to Apply
Used Auto Loan (2010-2013)5.25%5.25%$30.08Up to 36 months Max 90% LTVHow to Apply
Personal Loan 15.00% 15.00%$34.6736 months, unsecuredHow to Apply

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