Mortgage Loans

Rates Effective as of Thursday, May 17, 2012

Rates and terms subject to change without notice and may vary based on credit worthiness, loan to value, loan amount, etc. Rates are for primary single-family owner-occupied residences on Maryland properties only. Rate chart below is based on a loan amount of $200,000 to $249,000 and can differ from your loan request based on credit score, loan amount, loan to value, cash out, etc.
Additional loan types and terms available for qualified borrowers.

Fixed Rate Mortgage Loans
Term
Rate
Points
APR1
Max. Loan2
Max. LTV Ratio3
Monthly Payment per $1000 Borrowed4
15-Year 3.000% 0.500 3.223% $417,000 90% $6.91
30-Year 3.750% 0.875 3.908% $417,000 90% $4.63
15-Year *Conforming/Hi Balance 3.125% 0.875 3.324% $625,500 80% $6.97
30-Year *Conforming/Hi Balance 4.000% 0.250 4.063% $625,500 80% $4.77
15-Year
Jumbo		 5.500% 1.000 5.710% $1,000,000 80% $8.17
30-Year
Jumbo		 5.500% 1.000 5.624% $1,000,000 80% $5.68

1 APR=Annual Percentage Rate

2 Maximum loan amount may vary by county for Maryland

3 LTV=loan-to-value. 80% LTV maximum for refinances and jumbo loans. For purchases, private mortgage insurance is required (PMI) on LTV’s in excess of 80%. 80% LTV maximum for all condominiums (refinances and purchases).

4 Escrow for real property taxes and insurance may be required. Escrow not included in cost per $1,000 amounts.


*Conforming high-balance loans maximum LTV %65, credit scores of 720 or above, and 6 months reserves required.


Annual Percentage Rate (APR) is based on a minimum loan amount of $200,000 on conforming loans. Jumbo (non-conforming) loan APR calculation is based on a loan amount of $600,000, with a 20% down payment. Rates are for primary single-family owner-occupied residences on Maryland properties only. All purchase loans require a 10% or more down payment. Down payments of 10% available on loan amounts up to $625,500 with Private Mortgage Insurance (PMI). PMI is required on loan to values (LTVs) in excess of 80%. For refinances and jumbo loans there is a maximum loan to value (LTV) of 80%. For condominium purchase and refinances there is a maximum loan to value (LTV) of 80%. Adequate property and flood insurance may be required. All loan approvals are subject to BCSB's normal underwriting standards.