Mortgage Rates

All Annual Percentage Rates (APR) and Annual Percentage Yields (APY) are effective as if the date below and may change at the bank's discretion

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:  June 1, 2023
Term Rate APR* Monthly Payment/$1,000 borrowed**
Initial 5 Year Fixed Rate 6.375% 6.634% 6.239
Current Fully Indexed Rate for Years 6-30 7.750% 8.032% 7.164


*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:  May 10, 2023
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 6.625% 7.530% 3.765
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: May 10, 2023
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 6.750% 7.096% 7.604
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 below are for a bi-weekly acreage loans and are subject to change at any time. Bi-weekly acreage rates are available when automatic payments are made from a Skowhegan Savings deposit account.

Rates Effective: May 10, 2023
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 9.750% 11.331% 5.805
15 Year 9.875% 11.136% 5.036
20 Year
10.125%
11.256%
4.867

*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: May 10, 2023
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 9.875% 10.515% 13.146
15 Year 10.000% 10.472% 10.746
20 Year
10.250%
10.646%
9.816

*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 below are for a bi-weekly building lot loans and are subject to change at any time. Bi-weekly building lot rates are available when automatic payments are made from a Skowhegan Savings deposit account.

Rates Effective:  May 10, 2023
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 8.250% 9.753% 6.133
15 Year 8.375% 9.546% 4.887
20 Year
8.625%
9.655%
4.379

*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: May 10, 2023
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 8.375% 8.996% 9.774
15 Year 8.500% 8.951% 8.678
20 Year
8.750%
9.123%
7.867

*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: May 10, 2023
Term
Rate APR* Monthly Payment/$1,000 borrowed**
5 Year 6.375% 6.545% 19.508
10 Year 6.500% 6.670% 11.355
15 Year 6.625% 6.795% 8.780
20 Year
6.750%
6.920%
7.604

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.