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Mortgage Loan Rates

Rates Effective as of June 5, 2018

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 Double Wide Manufactured Home/Land and Construction/Permanent)

ProductMax. TermInterest RateAPR*Payment per $1,000.00
1 Yr. ARM**30 Yrs.4.000%4.962%$4.77
3 Yr. ARM**30 Yrs.3.500%4.880%$4.49
5/1 Yr. ARM**30 Yrs.3.750%4.589%$4.63
10/1 Yr. ARM**15 Yrs.3.875%4.069%$7.33
10/1 Yr. ARM**30 Yrs.4.000%4.422%$4.77
Fixed Rate10 Yrs.3.750%3.871%$10.01
Fixed Rate15 Yrs.4.000%4.085%$7.40
Fixed Rate20 Yrs.4.250%4.317%$6.19
Fixed Rate30 Yrs.5.000%5.051%$5.37

Maximum Loan-To-Value for Primary Residences = 95%
Maximum Loan-To-Value for Second Homes = 80%
Subject to Mortgage Insurance Approval

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

 

Residential Investment Properties and Unimproved Lots

ProductMax. TermInterest RateAPR*Payment per $1,000.00
Residential Investment Properties:
1 Yr. ARM**30 Yrs.6.125%5.609%$6.08
3 Yr. ARM**30 Yrs.6.375%5.962%$6.24
Unimproved Lots:
1 Yr. ARM**20 Yrs.6.125%5.644%$7.24
3 Yr. ARM**20 Yrs.6.000%5.901%$7.16
5/1 Yr. ARM**20 Yrs.6.250%5.946%$7.31

Maximum Loan-To-Value for Residential Investment Properties = 80%
Maximum Loan-To-Value for Lot Loans = 90% (Platted Subdivision & Purchase ONLY)
Maximum Loan-To-Value for Lot Loans Not in Platted Subdivision = 75%

*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: June 5, 2018

**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.

½ Point charged on All Lot Loans with a Loan-To-Value (LTV) above 75%.

Subject to Credit Approval.

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

Single Wide Manufactured Home/Land Loan Financing - Refer to the Single Wide Manufactured Home and Land Loan Rates

Manufactured Home Only Loan Financing Available

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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