CONSTRUCTION MORTGAGE PROGRAMS

 

We have one of the most competitive construction programs with up to 6 months to complete your construction. We have the know how to work with you and your builder to make the project run smoothly. All construction loans have one closing and a disbursement period in which you pay interest only on monies advanced.

 

See: Helpful Tips for Residential Loans

**Your interest rate is not locked until the Rockville Bank Mortgage Rate Lock Agreement is signed in the presence of a bank representative and the rate lock fee is paid. Fee is credited toward the closing costs.

Maximum LTV is 80%

 

Rates as of Friday, July 23, 2010
Points Interest Rate Annual Percentage Rate Fully Indexed Rate Payments Apply
Construction
15 Year Fixed Rate
2.000 3.875% 4.385% N/A Show Payments and Rates
1.000 4.000% 4.365% N/A Show Payments and Rates
0.000 4.125% 4.347% N/A Show Payments and Rates
Construction
30 Year Fixed Rate
2.000 4.375% 4.679% N/A Show Payments and Rates
1.000 4.500% 4.718% N/A Show Payments and Rates
0.000 4.625% 4.758% N/A Show Payments and Rates
Construction - 30 Year Term
3/1 ARM - Caps 2% / 6%
2.000 2.750% 3.323% 3.125% Show Payments and Rates
1.000 3.000% 3.298% 3.125% Show Payments and Rates
0.000 3.250% 3.274% 3.125% Show Payments and Rates
Construction - 30 Year Term
5/1 ARM - Caps 2% / 6%
2.000 3.125% 3.406% 3.125% Show Payments and Rates
1.000 3.375% 3.414% 3.125% Show Payments and Rates
0.000 3.625% 3.421% 3.125% Show Payments and Rates
Construction - 30 Year Term
7/1 ARM - Caps 2% / 6%
2.000 3.750% 3.703% 3.125% Show Payments and Rates
1.000 3.875% 3.679% 3.125% Show Payments and Rates
0.000 4.125% 3.716% 3.125% Show Payments and Rates
Construction - 30 Year Term
9/1 ARM - Caps 2% / 6%
2.000 3.875% 3.841% 3.125% Show Payments and Rates
1.000 4.000% 3.830% 3.125% Show Payments and Rates
0.000 4.250% 3.892% 3.125% Show Payments and Rates

The terms of the loan you apply for may change depending on the Loan to Value (LTV), Credit Score and other factors.
All rates, terms and conditions are subject to change at any time without notice.
 
* Adjustable Rate Mortgages (ARM's) rate of interest may increase during the life of the loan. An increase of the interest rate will result in a higher monthly payment. Note: All adjustable rates have a margin of 2.75%.
 
All annual percentage rates (APRs) assume a 20% down payment and are based on a $100,000.00 loan amount with no Private Mortgage Insurance (PMI) and no discounts.
 
All mortgage rates and points assume that the loan will be used to purchase a single family owner occupied property in the first lien position. 1-4 family owner occupied property only. Other restrictions may apply.
All loans are subject to credit approval.