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: October 2, 2024
| Term | Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| Initial 5 Year Fixed Rate | 6.125% | 6.380% | 6.076 |
| 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: October 10, 2024
| Term | Rate | APR* | Bi-Weekly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 6.000% | 7.392% | 5.551 |
| 15 Year | 6.125% | 7.171% | 4.253 |
| 20 Year | 6.375% | 7.265% | 3.691 |
| 30 Year | 6.500% | 7.243% | 3.160 |
* 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: October 10, 2024
| Term | Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 6.125% |
6.720% | 11.165 |
| 15 Year | 6.250% | 6.672% | 8.574 |
| 20 Year | 6.500% | 6.842% | 7.456 |
| 30 Year |
6.625% |
6.888% |
6.403 |
* 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: October 10, 2024
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 9.000% | 10.542% | 5.805 |
| 15 Year | 9.125% | 10.341% | 5.036 |
| 20 Year |
9.375% |
10.455% |
4.620 |
*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: October 10, 2024
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 9.125% | 9.755% | 12.735 |
| 15 Year | 9.250% | 9.712% | 10.292 |
| 20 Year |
9.500% |
9.884% |
9.321 |
*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: October 10, 2024
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 7.625% | 9.096% | 5.968 |
| 15 Year | 7.750% | 8.885% | 4.706 |
| 20 Year |
8.000% |
8.990% |
4.182 |
*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: October 10, 2024
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 10 Year | 7.750% | 8.363% | 9.413 |
| 15 Year | 7.875% | 8.318% | 8.287 |
| 20 Year |
8.125% |
8.488% |
7.425 |
*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: April 19, 2024
|
Term
|
Rate | APR* | Monthly Payment/$1,000 borrowed** |
|---|---|---|---|
| 5 Year | 7.625% | 7.797% | 20.097 |
| 10 Year | 7.750% | 7.922% | 12.001 |
| 15 Year | 7.875% | 8.047% | 9.484 |
| 20 Year |
8.000% |
8.173% |
8.364 |
* 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.
