Mortgage Rates

Effective as of May 16, 2012

Fixed | Interest First | Interest Only | No Points/No Closing | Adjustable | Construction Loans | Fixed Investment | Prime 

Since IC Federal Credit Union is an independent non-profit cooperative, our members have access to some of the best fixed and adjustable mortgage rates in Massachusetts. For business owners, ICFCU also offers competitive rates on construction loans and investment properties. 100% Financing is available on certain programs (Note: Rates subject to change without notice)  

FIXED RATE MORTGAGES

7-Year ~ Retire Your Mortgage Special!

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

2.500% 

2.622%

$12.99

10-Year ~ Retire Your Mortgage Special!

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

2.875% 

2.963%

$9.60

40-Year Mortgage

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

4.125% 

4.154%

$4.26

1 

3.875% 

3.970%

$4.10

2

3.625% 

3.786%

$3.95
30-Year Mortgage

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

3.750% 

3.784%

$4.63

1 

3.625% 

3.741%

$4.56

2

3.500% 

3.698%

$4.49

20-Year Mortgage

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

3.500% 

3.547%

$5.80

1 

3.500% 

3.662%

$5.80

2

3.375% 

3.652%

$5.74

15-Year Mortgage

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

3.000% 

3.060%

$6.91

1 

2.875% 

3.080%

$6.85

2

2.750% 

3.101%

$6.79

10-Year Mortgage

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

 2.875% 

2.963%

$9.60

1 

2.750%

3.048%

$9.53

2

2.625%

3.136%

$9.46

INTEREST FIRST MORTGAGES

15/15 FIXED

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

5.250% 

5.287%

$5.52

1 

5.000% 

5.126%

$5.37

2

4.750% 

4.963%

$5.22

10/20 FIXED

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

5.250% 

5.287%

$5.52

1 

5.000% 

5.126%

$5.37

2

4.750% 

4.963%

$5.22

INTEREST ONLY MORTGAGES

3/1 ARM (3-Year Interest Only)

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

N/A 

N/A 

 N/A 

1 

N/A 

N/A 

 N/A 

2

N/A 

N/A 

N/A

3/1 ARM (10-Year Interest Only)

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

N/A 

N/A

N/A

1 

N/A

N/A

N/A

2

N/A

N/A

N/A

5/1 ARM (5-Year Interest Only)

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

N/A 

N/A

N/A

1 

N/A

N/A

N/A

2

N/A

N/A

N/A

5/1 ARM (10-Year Interest Only)

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

N/A 

N/A

N/A

1 

N/A 

N/A

N/A

2

N/A 

N/A

N/A

NO POINTS / NO CLOSING COSTS MORTGAGES
For Refinances and Purchases - Single Family Only
($100,000 minimum loan requirement)

30, 20, 15, OR 10-Years

INTEREST RATE

APR

PAYMENT PER $1,000

N/A

N/A

N/A

ADJUSTABLE RATE MORTGAGES
Margin: 2.875%

5% Adjustment / 5% Lifetime Cap

FIXED PERIOD*

INTEREST RATE**

APR

INDEX

PAYMENT PER $1,000

7 Years

N/A

N/A

N/A

N/A

2% Adjustment / 5% Lifetime Cap

FIXED PERIOD*

INTEREST RATE**

APR

INDEX

PAYMENT PER $1,000

5 Years

3.250%

3.146%

.18

4.35

2% Adjustment / 6% Lifetime Cap

FIXED PERIOD*

INTEREST RATE**

APR

INDEX

PAYMENT PER $1,000

3 Years

2.500%

2.992%

.18

3.95

1 Year

N/A

N/A

N/A

N/A

*After the initial period expires, rates are adjusted on a 1 year period
**Rate listed is for No Point ARMs 
CONSTRUCTION LOANS
(6 month construction period interest only)

30-Years

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

4.250% 

4.362%

$4.92

1 

4.125% 

4.322%

$4.85

2

4.000% 

4.282%

$4.77

15-Years

POINTS

INTEREST RATE

APR

PAYMENT PER $1,000

0

3.500% 

3.694%

$7.15

1 

3.375% 

3.717%

$7.09

2

3.250% 

3.741%

$7.03

FIXED RATE INVESTMENT PROPERTIES*

30-Years

INTEREST RATE

 APR

PAYMENT PER $1,000

3.875%

4.056%

$4.70

15-Years

INTEREST RATE

 APR

PAYMENT PER $1,000

3.125%

3.442%

$6.97

1-4 family purchase 25%-30% down payment required based on credit score.
A $150.00 Mortgage Application fee may apply. Other fees may be applicable.
Rates for Condo and Bi-Weekly loans are .50% higher than above stated rates.
*Additional fees and price adjustments charged by investor may increase the annual percentage rate (APR)

PRIME RATE

PRIME RATE

3.25%