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Mortgage Loan Rates

Rates Effective as of August 31, 2023

The following loan rates are available for properties located within the Lower Eastern Shore of Maryland, Accomack County, Virginia and Lower Delaware.

Primary/Secondary Homes (Includes Construction/Permanent)

ProductMax. TermInterest RateAPR*Payment per $1,000.00
1 Yr. ARM**30 Yrs.6.000%7.990%$6.00
3 Yr. ARM**30 Yrs.6.000%7.138%$6.00
5/1 Yr. ARM**30 Yrs.6.250%7.435%$6.16
10/1 Yr. ARM**15 Yrs.6.500%6.762%$8.71
10/1 Yr. ARM**30 Yrs.6.750%7.276%$6.49
Fixed Rate10 Yrs.6.250%6.413%$11.23
Fixed Rate15 Yrs.6.500%6.618%$8.71
Fixed Rate20 Yrs.6.750%6.847%$7.60
Fixed Rate30 Yrs.7.000%7.078%$6.65

Maximum Loan-To-Value for Primary Residence and Second Homes = 90%
Maximum Loan-To-Value for Construction-Permanent Loans = 80%


Residential Investment Properties and Unimproved Lots

ProductMax. TermInterest RateAPR*Payment per $1,000.00
Residential Investment Properties:
1 Yr. ARM**30 Yrs.8.000%8.664%$7.34
3 Yr. ARM**30 Yrs.8.250%8.123%$7.51
Unimproved Lots:
1 Yr. ARM**20 Yrs.7.250%8.573%$7.90
3 Yr. ARM**20 Yrs.7.500%7.905%$8.06
5/1 Yr. ARM**20 Yrs.7.750%8.285%$8.21

Maximum Loan-To-Value for Residential Investment Properties = 80%
Maximum Loan-To-Value for Lot Loans = 75%

For Manufactured Home and Land Financing - Refer to the Manufactured Home and Land Loan Rate Sheet

*Monthly loan payment per $1,000 borrowed is based on the interest rate and maximum loan term quoted for each loan product.
Annual Percentage Rate is based on the index for the week of: August 25, 2023.

Payments do not include amounts for taxes and insurance premiums, if applicable.

**The interest rate on Adjustable Rate Mortgage (ARM) loans may increase after the loan has been consummated. For more information describing the features of Adjustable Rate Mortgages, please contact your nearest branch office or e-mail.

½ Point charged on All Construction/Permanent Loans. Inspection fees are required on construction loans.

Subject to Credit Approval.

The interest rates quoted are subject to revision without prior written notice.

Commercial Loan Financing Available - Call for more information.


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First Shore Federal | 106 S. Division St., Salisbury MD 21801 | 410-546-1101
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