Loan Rates
Mortgage Loan Rates
Rates and APRs (annual percentage rate) are subject to change without notice
| Mortgage Program | Interest Rate | Points | APR | Monthly Payment per $1000 Borrowed |
| Fixed Rate (1) | (2) | (3) | (4) | |
| 30 Year Mortgage Fixed Rate | 6.250% | 0 | 6.308% | $6.16 |
| 20 Year Mortgage Fixed Rate | 5.875% | 0 | 5.949% | $7.09 |
| 15 Year Mortgage Fixed Rate | 5.500% | 0 | 5.589% | $8.17 |
| 10 Year Mortgage Fixed Rate | 5.250% | 0 | 5.374% | $10.73 |
(1) Loan product available for loan amounts up to FHLMC conforming loan limit.
(2) Rates quoted assume a 20% down payment on the purchase of an owner-occupied single family home. Rates are adjusted for credit score, loan-to-value, multi-family property, secondary residence, investment property, and cash-out refinance transactions. Loans with less than a 20% down payment will require mortgage insurance.
(3) Annual percentage rate (APR) assumes a $250,000 loan with a 20% down payment and 15 days prepaid interest. Actual APR may vary based on loan amount and finance charges.
(4) The monthly payment amounts shown include principal and interest. Your actual monthly payment will be greater for payment into an escrow account for taxes, property insurance premiums, mortgage insurance, and flood insurance, if required.
Consumer Loan Rates
Rates and APRs (annual percentage rate) are subject to change without notice
| Consumer Loan Program | Term | Interest Rate | APR | Monthly Payment per $1000 Borrowed |
| Home Equity Loan (1) | 60 mo. | 5.750% | 5.750% | $19.22 |
| 120 mo. | 6.000% | 6.000% | $11.10 | |
| 180 mo. | 6.250% | 6.250% | $8.57 | |
| 240 mo. | 6.500% | 6.500% | $7.46 | |
| Home Equity Line of Credit (2) | open-ended | 8.000% | 8.000% | NA |
| New Auto (3) | 24 mo. | 5.000% | 5.000% | $43.87 |
| 36 mo. | 5.250% | 5.250% | $30.08 | |
| 48 mo. | 5.500% | 5.500% | $23.26 | |
| 60 mo. | 5.750% | 5.750% | $19.22 | |
| Used Auto (4) | 24 mo. | 5.250% | 5.250% | $43.98 |
| 36 mo. | 5.500% | 5.500% | $30.20 | |
| 48 mo. | 5.750% | 5.750% | $23.37 | |
| Passbook Loan (5) | ||||
| Personal Loan (6) | up to 36 mo. | 11.000% | 11.000% | $46.61 |
| Overdraft Protection (7) | open-ended | 18.000% | 18.000% | NA |
| Prime Rate | 8.250% |
(1) 1st or 2nd lien position behind a Methuen Co-operative Bank 1st mortgage up to an 80% loan-to-value. 2nd lien position at the discretion of the Bank. Homeowners Insurance is required, flood insurance may be required.
(2) 1st or 2nd lien position behind a Methuen Co-operative Bank 1st mortgage up to an 80% loan-to-value. 2nd lien position at the discretion of the Bank. Homeowners Insurance is required, flood insurance may be required. The interest rate is variable, may change without notice after the loan account is opened, and is based on the Wall Street Journal Prime Rate. The maximum APR is 18%.
(3) Up to a 90% loan-to-value based on the sales invoice price.
(4) Up to an 80% loan-to-value based on the lower of cost or book value.
(5) Up to 60 months. 2% over the earned interest rate. Up to 95% of account balance. Quarterly interest payments required.
(6) Loan amount up to $5,000. Higher amounts will be considered for qualifying borrowers that are well known to the Bank.
(7) Up to $1,000. Higher amounts will be considered for qualifying borrowers that are well known to the Bank.
(8) Twenty-five basis point (0.25%) rate reduction for automatic payment withdrawal from a Methuen Co-operative Bank direct deposit checking account.