Land Rates

There’s a lot of thought that goes into building a new home. How many bedrooms? Where to put the kitchen? Sconces or recessed lighting? With all this dreaming and planning, you have enough on your mind without worrying about the loan to pay for it. At Meredith Village Savings Bank, we put as much thought into building a better loan and we’ve developed a hassle-free process that lets you concentrate on your house plans...while we handle the financing.

Building a new home can be more exciting and challenging than finding an existing home to move into. The financing works a little differently, too. But when it’s done, you have the home of your dreams. At Meredith Village Savings Bank, we keep track of all the financing details so you can focus on all the other details that will help turn your new house into your new home.




All rates effective September 7, 2010, 9:49am unless otherwise noted and are subject to change without notice.


Land Loans
Product NameTerm (years)RatePointsMarginAnnual Percentage Rate (APR)Monthly Payment
Land Loan (1 year ARM) ##206.000%04.250%4.712%

Payment Streams

12 payments of $1,432.86
228 payments of $1,271.66

Land Loan (3/1 ARM) ##206.250%04.250%5.102%

Payment Streams

36 payments of $1,461.86
204 payments of $1,287.99

Land Loan (3/1 ARM Interest Only)## 206.625%04.250%5.213%

Payment Streams

36 interest only payments of $1,104.17
36 payments of 1,417.60
168 payments of $1,042.65
  • Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater.
    • Construction Loans
    Product NameTerm (years)RatePointsMarginAnnual Percentage Rate (APR)Monthly Payment
    3/1 ARM## (construction)*303.990%04.250%4.508%

    Payment Streams

    6 months interest only based on amount outstanding
    36 payments of $953.57
    324 payments of $1,008.51

    5/1 ARM (construction)*##304.250%03.875%4.296%

    Payment Streams

    6 months interest only based on amount outstanding
    60 payments of $983.76
    300 payments of $971.10

    5/1 ARM Construction Interest Only * ##306.500%03.875%5.161%

    Payment Streams

    6 months interest only based on amount outstanding
    60 interest only payment of $1,083.33
    60 payments of $1,111.67
    240 payments of $1,057.82

    7/1 ARM - Construction*##305.500%03.875%4.932%

    Payment Streams

    6 months interest only based on amount outstanding
    84 payments at $1,135.58
    276 payments at $997.49
  • Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater.
    • Jumbo Loans
    Product NameTerm (years)RatePointsMarginAnnual Percentage Rate (APR)Monthly Payment
    3/1 Jumbo##303.990%04.250%4.395%

    Payment Streams

    36 payments of 1,988.20
    324 payments of $2,102.75

    5/1 Jumbo##304.250%03.875%4.183%

    Payment Streams

    60 payments of $2,015.15
    300 payments of $2,024.75

    5/1 Interest Only Jumbo ##306.500%03.875%5.043%

    Payment Streams

    60 interest only payments of $2,258.76
    60 payments of $2,317.83
    240 payments of $2,205.57

    7/1 ARM - Jumbo ##305.500%03.875%4.813%

    Payment Streams

    84 payments of $2,367.69
    276 payments of $2,079.77
  • Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater.
    • Adjustable Rate - Portfolio Programs Servicing Retained Notes
      • Caps are 2/6 on 1-year ARM, 3/1 ARM, 5/1 ARM and 7/1 ARM
      • APRs on construction loans include a 1% construction fee*, $400 document prep fee, $25 flood certification fee, $80 tax related service fee, $200 underwriting fee, $100 plot plan fee and $150 lender inspection fee.
      • APRs for adjustable rate loans reflect a $400 document prep fee, $25 flood certification fee, $80 tax related service fee for a purchase and $200 Underwriting fee.
      • APRs for land loans reflect a $400 document prep fee, $25 flood certification fee $80 tax related service fee and $200 Underwriting fee.
      • 5/1 ARM Interest Only, 5/1 ARM Interest only Jumbo and Land loan-3/1 ARM Interest only requires a minimum credit score of 740.
      • Annual Percentage Rate may be increased after consummation.
      • Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater.
        # Rate is at a discount.
        ## Rate is at a premium.
    Fixed Retained Construction
    • Conforming fixed rate construction loans are .250% above the servicing retained fixed rates.
    Jumbo Program Notes
    • Jumbo fixed rate construction loans are .250% above jumbo servicing retained fixed rates.
    Investment & Seasonal Homes
    Product NameTerm (years)RatePointsAnnual Percentage Rate (APR)Monthly Payment
    Fixed 30 Years 1 -2 Family Investment - Retained305.375%05.407%$1,119.94
    Fixed 30 Years Seasonal Homes - Retained304.625%04.655%$1,028.28
      • Rates quoted are based on loans with a 20% down payment.
      • Maximum loan amount of $417,000. Rates are quoted for a 40 day lock.
      • APRs reflect a $400 document prep fee, $25 flood certification fee, $200 Underwriting Fee, and $80 tax related service fee for a purchase and $40 for refinances.
      • Payments do not include amounts for taxes and any insurance permiums. Your actual payment obligation will be greater.
    Portfolio Programs - Servicing Retained
    Product NameTerm (years)RatePointsAnnual Percentage Rate (APR)Monthly Payment
    Portfolio Fixed 30 Years305.750%05.781%$1,167.15
    Portfolio Fixed 20 Years205.750%05.791%$1,404.17
    Portfolio Fixed 15 Years155.125%05.179%$1,594.64
    Portfolio Fixed 10 Years105.125%05.202%$2,133.55
    • APRs for fixed rate loans reflect a $400 document prep fee, $25 flood certification fee, $80 tax related service fee for a purchase and $200 Underwriting fee.
  • Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater.
    • Additional Terms
    • Monthly Payments are calculated using a $200,000 loan amount and the maximum term unless otherwise stated. APR = Annual Percentage Rate. ARM = Adjustable Rate Mortgage; APR may increase at adjustment period. For Adjustable rates, fully indexed rate is the 1 year treasury plus margin. Maximum loan to value calculations vary based on property type and occupancy status. All APRs assume 20% downpayment. Other Investor loans; other rates and point programs are available upon request.
      Construction loans include a 1% construction fee on the first $500,000 of construction funds and then 1/2% of the excess amount above $500,000, for a 6 month construction period. Modular construction loan fees will cap out at the maximum construction loan fee of $5,000. Self-Builds will have a two (2)% construction fee schedule for a 6 month construction period. (other construction periods available).
      Jumbo Loans> $417,000
    Government Programs - Servicing Released
    Product NameTerm (years)RatePointsAnnual Percentage Rate (APR)Monthly Payment
    FHA 30 Year Fixed304.250%04.346%$983.88
    NHHFA 30 Year*304.250%04.773%$983.88
    303.990%14.479%$953.68
    Cash Assistance Program 30 Year*304.500%05.037%$1,013.37
    • * APR based on 30-year term, 95% LTV; including PMI
      • Monthly payments are calculated using a $200,000 loan amount and the maximum term.
      • Minimum fico scores on all Government loans is 620.
      • APR on FHA and Rural loans reflects a $750 Merrimack Mortgage administration fee, $350 processing fee, $150 Meredith Village Savings administration fee, $18 flood certification fee.
      • Rates are subject to change without notice.
  • Payments do not include amounts for taxes and any insurance premiums. Your actual payment obligation will be greater.

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