Loans

Elderly couple shaking hands with a realtorJarrettsville Federal offers a variety of loans that can help you start a tradition. If it’s your dream home you want to finance, we have mortgages that help you purchase, refinance or build your home, lot loans that help with property purchase, and Home Equity loans for those other expenses that life requires.. We specialize in conventional, fixed–rate residential loans, including construction–permanent loans with only one settlement.

You can feel confident that we’ll keep your traditions close -- loans you open at Jarrettsville Federal stay at Jarrettsville Federal. We do not sell our loans. At Jarrettsville Federal, we are committed to reinvesting loans back into our local community. Contact us to discuss any of your financing questions. Our qualified staff will be happy to assist you.

Click here to download our tips for finding the right lender

NMLS #431219
Rates effective as of October 31, 2017

1-4 FAMILY HOME LOANS – PURCHASE OR REFINANCE

Term

% Down

Interest Rate

APR*

Points

Monthly Payments Per $1,000 Borrowed

10 Year Fixed Rate

20

3.250%**

3.370%

0

120 months of $9.77

15 Year Fixed Rate

20

3.250%**

3.332%

0

180 months of $7.03

20 Year Fixed Rate

20

3.750%**

3.819%

0

240 months of $5.93

30 Year Fixed Rate

20

3.875%**

3.926%

0

360 months of $4.70

** Add .50% for JUMBO loans over $517,500.00

FIXED RATE CONSTRUCTION / PERM LOANS

Term

% Down

Interest Rate*

APR*

Points

Monthly Payments Per $1,000 Borrowed

15 Year Fixed Rate

20

3.250%

3.601%

1.5

180 months of $7.03

20 Year Fixed Rate

20

3.750%

4.031%

1.5

240 months of $5.93

30 Year Fixed Rate

20

3.875%

4.079%

1.5

360 months of $4.70

** Add .50% for JUMBO loans over $517,500.00
Loan payment is Interest ONLY during construction period                                                                                                                                                                   Our Construction- Permanent loans have only 1 settlement

LOT LOANS

Term

% Down

Interest Rate

APR*

Points

Monthly Payments Per $1,000 Borrowed

15 Year Amortization

35

6.250%

6.600% 1

180 months of $8.57

Term is based on a 5 year Balloon
No size restrictions on lot loans

HOME EQUITY LOANS

Term

% Down

Interest Rate

APR*

Points

Monthly Payments Per $1,000 Borrowed

5 Year Fixed Rate

80% LTV **

5.000%

5.162%

0

60 months of $18.87

10 Year Fixed Rate

80% LTV **

5.250%

5.310%

0

120 months of $10.73

15 Year Fixed Rate

80% LTV **

5.500%

5.537%

0

180 months of $8.17

**Loan ratio includes first mortgage balance

HOME EQUITY LINE OF CREDIT

Term

LTV**

Interest Rate***

APR*

Points

 Maximum Loan Amount

10 year draw/10 year repayment

80%

Prime Rate

 Maximum is 18%0

$250,000

Jarrettsville Federal will pay closing costs up to a loan amount of $100,000. If the borrower pays off and closes the line of credit prior to the end of three years, they will be obligated to repay these fees at time of loan payoff. 
** up to 85% LTV (Loan to Value) if existing first mortgage is with Jarrettsville Federal.
*** Rates are variable and may change monthly. Prime rate is the prime rate published in the Wall Street Journal - current rate is 4.25%  

 

For more information about our rates, contact us at 1-800-429-6616 or 410-692-5151.
email us for a loan rate quote today!

We also have Home Equity loans for those expenses life requires, and lot loans for property just waiting for your new home.

Contact our loan representatives:
Denise Busson: NMLS #902671
Alicia Fisher: NMLS #1111009
John Reale: NMLS #1311697

IMPORTANT INFORMATION ABOUT OUR RESIDENTIAL MORTGAGE PLANS

* APR = Annual Percentage Rate          

  • In accordance with the USA Patriot Act, Jarrettsville Federal SLA is required to obtain, verify and record information that identifies each person who opens an account.
  • APRs disclosed above are calculated on a $200,000 loan excluding Jumbo Loans. The APR will vary based on final loan amount and finance charges.
  • One point equals 1% of the borrowed amount
  • Processing Fee is $500/ Tax Service Fee is $80-$114
  • The fee for credit report may be required at time of application. The fee may vary.
  • Appraisal fee may be higher on certain types of loans.
  • All loan requests are subject to credit approval.
  • Adequate property insurance required.
  • Flood insurance may be required.
  • Payments do not include amount for taxes and insurance premiums. The actual payment obligation will be higher.
  • Prequalification available.
  • LTV in excess of 80% require Private Mortgage Insurance (PMI)
  • Lot loans require a perk test and potability test prior to settlement if the site will be serviced by a septic system or well.
  • Lot Loan - monthly payment is amortized over 15 years. Loan must be paid in full or refinanced in 5 years.
  • Consult your tax advisor regarding deductibility of interest and charges.