House key in the front door of a new home




















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: February 28, 2024
Term Rate APR* Monthly Payment/$1,000 borrowed**
Initial 5 Year Fixed Rate 6.875% 7.142% 6.569
Current Fully Indexed Rate for Years 6-30 7.500% 7.778% 6.992


*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: February 15, 2024
Term Rate APR* Bi-Weekly Payment/$1,000 borrowed**
10 Year 6.875% 8.309% 5.773
15 Year 7.000% 7.961% 4.459
20 Year 7.125% 8.060% 3.914
30 Year 7.250% 8.046% 3.411

* 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: February 15, 2024
Term Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 7.000%
7.605% 11.611
15 Year 7.125% 7.559% 9.058
20 Year 7.250% 7.603% 7.904
30 Year
7.375%
7.651%
6.907

* 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: February 15, 2024
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 9.875% 11.463% 5.805
15 Year 10.000% 11.136% 5.036
20 Year
10.125%
11.112%
4.825

*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: February 15, 2024
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 10.000% 10.641% 13.215
15 Year 10.125% 10.599% 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: February 15, 2024
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 8.500% 10.016% 6.199
15 Year 8.625% 9.811% 4.960
20 Year
8.750%
9.788%
4.419

*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: February 15, 2024
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 8.625% 9.249% 9.921
15 Year 8.750% 9.205% 8.837
20 Year
8.875%
9.249%
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: February 15, 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.