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PURCHASE RATES 
For Refinance Rates, see Refinance rates. For more information on the rates and other loan options, please call us at 1-855-782-LEND (5363).

 


REFINANCE RATES 
For Purchase Rates, see Purchase rates. For more information on the rates and other loan options, please call us at 1-855-782-LEND (5363).

People's United Bank has the know-how to help you through each step of the mortgage process. With competitive interest rates and a variety of loan options — including fixed or variable rate mortgages, jumbo mortgages,and construction loans, as well as first-time homebuyer and government-sponsored housing options and pre-qualification plans — People's United Bank can help you purchase your new home or refinance your existing one.

                                         Fixed-Rate Mortgage
Benefits Apply Now
  • Fixed rate and fixed payments throughout the life of the loan
  • Available in a variety of loan terms
  • Jumbo Mortgage options available for larger loan amounts
                                         Jumbo Mortgage
Benefits Apply Now
  • Competitive rates that could be either fixed or adjustable
  • Loan amounts above the conventional limit of $417,000
                                         Adjustable-Rate Mortgage (ARM)
Benefits Apply Now
  • Typically has a lower interest rate during the adjustable period, which could mean a lower starting monthly payment
  • After the adjustable period is over and for the remainder of the loan's term, your rate will adjust based on the current market rate and continues to adjust each year for the remainder of the loan term.  As a result, your monthly payment can increase if interest rates go up.
                                         Construction and Land Loans
Benefits Apply Now
  • Adjustable Rate Mortgage (ARM) in which you select the fixed rate period.
  • The fixed-rate period may be for the first 5, 7, or 10 years
  • After the initial 5, 7 and 10 year period, the interest rate may change every 12 months
                                         VA Home Loans
Benefits Apply Now
  • Flexible credit guidelines
  • Ability to borrow up to 100% of the value of your home

People’s United Bank has special loan programs tailored for first-time home buyers. These programs feature below market interest rates and low down payment options, plus specially allotted funding to qualified buyers in our surrounding communities.

FIRST-TIME AND GOVERNMENT SPONSORED HOMEBUYER

                                         FHA Mortgages1
Description Apply Now
The Federal Housing Administration (FHA) and the U.S. Department of Veterans Affairs (VA) offer government-insured 1 mortgage loans. These loans have features that may make them easier for first-time homebuyers to obtain.


Features:

  • Low Rates
  • Low Down Payment Options
  • Flexible Credit & Income Guidelines
  • Down Payment Assistance may be available
                                         State Loan Programs:
Connecticut Housing Finance Authority (CHFA)
Rural Housing Community Development Services (RHCDS)
Description Apply Now
State Loan Programs offer a variety of home loans at below market or competitive interest rates to eligible first time homebuyers and to prior homeowner intended to purchase home in ares targeted for revitalization.


Features:

  • Low Rates
  • Low Down Payment Options
  • Flexible Credit & Income Guidelines
  • Down Payment Assistance may be available

Considerations

  • FHA & State Loan Programs loans have the benefit of a low down payment but there are other loan products with the same option.
  • Be certain to ask your People's United Bank mortgage consultant to help you compare the overall costs of all products, including the monthly and long-term costs and conditions of the required mortgage insurance.
  • In many instances, you may find FHA or State Loan Program to be a more expensive financing option and should be considered after thoroughly evaluating all other product options that meet your credit qualifying and financial needs.
1 FHA mortgage insurance protects the lender if a borrower defaults on the FHA loan. Each FHA borrower pays a mortgage insurance premium. The premiums are collected and used by the FHA to reimburse the lender (not the borrower) should the borrower default and the lender must foreclose upon the loan/sustain a loss. This insurance enables a lender to provide loan options and benefits often not available through conventional financing.


Important Terms and Conditions

As of April 18, 2014.

PURCHASE RATES

Fixed Rate Loans - Maximum Loan $417,000
Mortgage Interest Rate APR Term  Points Cost per $1,000
30 Yr 4.000% 4.268% 30 1.375% $4.77
30 Yr 4.125% 4.330% 30 0.625% $4.85
30 Yr 4.250% 4.392% 30 -0.125% $4.92
15 Yr 3.125% 3.510% 15 0.875% $6.97
15 Yr 3.250% 3.562% 15 0.375% $7.03
15 Yr 3.375% 3.615% 15 -0.125% $7.09
Jumbo Fixed Rate Loans - Available on Loans $417,001 and higher
Mortgage Interest Rate APR Term  Points Cost per $1,000
30 Yr 4.250% 4.285% 30 0.000% $4.92
15 Yr 3.625% 3.664% 15 -0.125% $7.21
Adjustable Rate Loans
Mortgage Years Interest Rate APR Term  Points Cost per $1,000
10/1 1-10
11-30
3.625%
2.750%
3.305%
3.305%
  30   -0.125% $4.56
$4.22
7/1 1-7
8-30
3.250%
2.750%
2.999% 2.999%   30   -0.125% $4.35
$4.14
5/1 1-5
6-30
2.750%
2.750%
2.768%
2.768%
  30   -0.125% $4.08
$4.08
Affordable Loans Rates
Mortgage Interest Rate APR Term  Points Cost per $1,000
30 Year FHA 3.875% 4.359% 30 -0.125% $4.70
15 Year FHA 3.375% 3.667% 15 -0.125% $7.09
Fixed Rate Super Conforming High Balance Rates ($417,001 - $625,500)
Subject to high-cost limits set annually by the Federal Housing Finance Agency (FHFA)
Mortgage Interest Rate APR Term  Points Cost per $1,000
30 Yr 4.250% 4.281% 30 -0.125% $4.92
15 Yr 3.375% 3.424% 15 -0.125% $7.09

REFINANCE RATES

Fixed Rate Loans - Maximum Loan $417,000
Mortgage Interest Rate APR Term  Points Cost per $1,000
30 Yr 4.000% 4.279% 30 1.500% $4.77
30 Yr 4.125% 4.341% 30 0.750% $4.85
30 Yr 4.250% 4.403% 30 0.000% $4.92
15 Yr 3.125% 3.529% 15 1.000% $6.97
15 Yr 3.250% 3.581% 15 0.500% $7.03
15 Yr 3.375% 3.633% 15 0.000% $7.09
Jumbo Fixed Rate Loans - Available on Loans $417,001 and higher
Mortgage Interest Rate APR Term  Points Cost per $1,000
30 Yr 4.500% 4.537% 30 0.000% $5.07
15 Yr 3.750% 3.809% 15 0.000% $7.27
Adjustable Rate Loans
Mortgage Years Interest Rate APR Term  Points Cost per $1,000
10/1 1-10
11-30
3.750%
2.750%
3.393%
3.393%
  30   0.00% $4.63
$4.23
7/1 1-7
8-30
3.375%
2.750%
3.067%
3.067%
  30   0.00% $4.42
$4.15
5/1 1-5
6-30
2.875%
2.750%
2.821%
2.821%
  30   0.00% $4.15
$4.09
Affordable Loans Rates
Mortgage Interest Rate APR Term  Points Cost per $1,000
30 Year FHA 3.875% 4.370% 30 0.000% $4.70
15 Year FHA 3.375% 3.685% 15 0.000% $7.09

General Disclosures

  • Interest rates are subject to change at any time without notice.
  • Due to various federal, state and local requirements, certain products may not be available in all areas.
  • The actual Annual Percentage Rate (APR) and fees available to you may differ from the rates posted based on your credit history, loan amount, property type, product features, and loan to value ratio.
  • Applications subject to approval. Down Payments can be as low as 5% with Mortgage Insurance.
  • Payment does not include taxes and insurance. The actual payment amount will be greater.
  • Maximum loan amount may vary by county.

Fixed Rate Mortgages

  • The 15 and 30 year rates are for a 60 day lock-in period.  Other rates and terms available.
  • Examples shown assume down payments:  25% (Down Payment can be reduced with Mortgage Insurance)

Jumbo Rate Mortgages

  • Fixed Rate Jumbo product rates assume primary residence, single family property with an 75% LTV, credit score of 740, and loan amount of $650,000.  Higher loan amounts available. Examples shown assume down payments:  25% (Down Payment can be reduced with Mortgage Insurance)

Adjustable Rate Mortgages (ARMS)

  • Adjustable Rate Mortgages are variable rate loans. After the initial fixed-rate period, your interest rate can increase or decrease annually according to the market index which is affected by economic conditions.
  • Your new payment (after the initial fixed period) will be based on the interest rate, loan balance and loan term remaining at the time of adjustment.
  • Interest rate will be determined based upon an Index plus a margin.
  • The index is the one-year London Interbank Offered Rate (LIBOR) in The Wall Street Journal as of 45 days prior to interest rate change date. The margin is 2.25%.
  • Rate assumes maximum LTV of 80%, minimum credit score of 680 and loan amount of $650,000. Higher loan amounts available.

FHA

  • The maximum loan amounts are set by HUD and will change according to the area. Refer to the local FHA guidelines for the maximum loan amounts set by HUD for the area.

Fixed Rate Super Conforming High Balance Mortgage

  • Fixed Rate Super Conforming High Balance rates assume primary residence, single family property with an 75% LTV, credit score of 740 and loan amount of $100,000.

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