Home Loan Rates
Skowhegan Savings offers a wide range of financing options to meet your needs, including bi-weekly mortgages*, which can save you thousands of dollars in interest and shorten the life of your loan. Try our bi-weekly calculator to see how much you can save!
Rates below are for conforming primary residence. To see all current home loan rates and options, please visit our check rates tool or contact your local Community Banker.
*Adjustable Rate Mortgages do not have a bi-weekly payment options.
5/1 Adjustable Rate Mortgage - 30 Year Term
Rates Effective: April 16, 2025
| Term | Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| Initial 5 Year Fixed Rate | 6.500% | 6.761% | 6.321 |
| Current Fully Indexed Rate for Years 6-30 | 6.500% | 6.761% | 6.321 |
*The annual percentage rate (APR) disclosed above assumes $50,000.00 financed and 20% down payment. Higher loan to value financing is available with Private Mortgage Insurance. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
**Monthly payment/ $1000 borrowed does not reflect any insurances or taxes. Actual payment obligation will be greater. The first 60 months would be at the Initial Rate and the remaining 300 months would adjust annually to the current index plus the margin.
Loans greater than $1,000,000 have a .25% rate add.
Bi-Weekly Home Loan Rates
Rates below are for a bi-weekly mortgage and are subject to change at any time. Bi-weekly mortgage rates are available when automatic payments are made from a Skowhegan Savings deposit account.
Rates Effective: April 16, 2025
| Term | Rate | APR* | Bi-Weekly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 6.250% | 7.654% | 5.614 |
| 15 Year | 6.375% | 7.434% | 4.321 |
| 20 Year | 6.750% | 7.662% | 3.802 |
| 30 Year | 6.875% | 7.644% | 3.285 |
* The annual percentage rate (APR) disclosed above assumes $50,000.00 financed and 20% down payment. Higher loan to value financing is available with Private Mortgage Insurance. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
** Bi-weekly payment/ $1000 borrowed does not reflect any insurances or taxes. Actual payment obligation will be greater.
Loans greater than $1,000,000 have a .25% rate add.
Monthly Home Loan Rates
Rates Effective: April 16, 2025
| Term | Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 6.375% |
6.973% | 11.291 |
| 15 Year | 6.500% | 6.925% | 8.711 |
| 20 Year | 6.875% | 7.222% | 7.678 |
| 30 Year |
7.000% |
7.269% |
6.653 |
* The annual percentage rate (APR) disclosed above assumes $50,000.00 financed and 20% down payment. Higher loan to value financing is available with Private Mortgage Insurance. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
** Monthly payment/ $1000 borrowed does not reflect any insurances or taxes. Actual payment obligation will be greater.
Loans greater than $1,000,000 have a .25% rate add.
Land Loan Rates
Bi-Weekly Acreage Rates
Rates Effective: April 16, 2025
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 9.250% | 10.805% | 5.805 |
| 15 Year | 9.375% | 10.606% | 5.036 |
| 20 Year |
9.750% |
10.855% |
4.743 |
*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 35% down payment. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
**Monthly payment/$1000 does not reflect any taxes. Actual payment obligation will be greater.
Monthly Acreage Rates
Rates Effective: April 16, 2025
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 9.375% | 10.008% | 12.871 |
| 15 Year | 9.500% | 9.965% | 10.442 |
| 20 Year |
9.875% |
10.265% |
9.568 |
*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 35% down payment. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
**Monthly payment/$1000 does not reflect any taxes. Actual payment obligation will be greater.
Bi-Weekly Building Lot Rates
Rates Effective: April 16, 2025
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 7.875% | 9.359% | 6.033 |
| 15 Year | 8.000% | 9.150% | 4.778 |
| 20 Year |
8.375% |
9.389% |
4.300 |
*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 25% down payment. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
**Monthly payment/$1000 does not reflect any taxes. Actual payment obligation will be greater.
Monthly Building Lot Rates
Rates Effective: April 16, 2025
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 8.000% | 8.617% | 9.557 |
| 15 Year | 8.125% | 8.571% | 8.442 |
| 20 Year |
8.500% |
8.996% |
7.689 |
*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 25% down payment. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
**Monthly payment/$1000 does not reflect any taxes. Actual payment obligation will be greater.
Home Equity Loan Rates
Rates Effective: January 16, 2025
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 5 Year | 6.750% | 6.920% | 19.683 |
| 10 Year | 6.875% | 7.046% | 11.547 |
| 15 Year | 7.000% | 7.171% | 8.988 |
| 20 Year |
7.125% |
7.296% |
7.828 |
* The annual percentage rate (APR) disclosed above assumes 11% down payment. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.
** Monthly payment/ $1000 borrowed does not reflect any insurances or taxes. Actual payment obligation will be greater.
Home Equity Line of Credit Rates
Rates Effective: December 19, 2024
Introductory Fixed Rate*
|
Term
|
Introductory Period
|
Introductory APR |
|---|---|---|
| 20 Year | 2 Year | 7.000% |
| 20 Year | 5 Year | 7.000% |
*Term of 240 months (20 years) consisting of a 60 month (5 year) draw period, followed by a 180 month (15 year) principal and interest repayment period. The Annual Percentage Rate (APR) shown above is based on a minimum draw of $10,000 new money, a borrower credit score of 740 or above and the opening of an Integrity Plus checking account. After the Introductory Fixed Rate Period or 2 or 5 years, the Annual Percentage Rate (APR) can change monthly and is based on Wall Street Journal Prime Rate plus a margin based on established credit qualifications. If the Introductory Fixed Rate product was not in effect, a reasonably current APR of 7.75% based on Wall Street Journal Prime Rate plus on a margin could have been in effect. APR will not be lower than 6.00% or higher than 18.00% Maximum loan to value is 85% on an owner-occupied residence, including any other existing liens. Closing costs range from $0 to $810. Taxes and insurance (hazard & flood if applicable) are required. Please consult a tax advisor for further information regarding the deductibility of interest and charges. All loans are subject to approval by Skowhegan Savings.
Variable Rate
|
Term
|
APR* |
|---|---|
|
Current Fully Indexed Rate for
20 Years
|
7.500% |
*Term of 240 months (20 years) consisting of a 60 month (5 year) draw period, followed by a 180 month (15 year) principal and interest repayment period. The Annual Percentage Rate (APR) can change monthly and is based on Wall Street Journal Prime Rate plus a margin based on established credit qualifications. APR will not be lower than 6.00% or higher than 18.00%. Maximum loan to value is 85% on an owner-occupied residence, including any other existing liens. Closing costs range from $0 to $810. Taxes and insurance (hazard & flood if applicable) are required. Please consult a tax advisor for further information regarding the deductibility of interest and charges. All loans are subject to approval by Skowhegan Savings.
