Loan Products and Rates
All loans are subject to credit approval.
Please contact our Residential Loan Officer (NMLS# 2444341) at 856-825-0809.
Mortgage Loans
We offer a variety of Conventional financing options with a fixed rate and repayments up to 30 years.
- All rates subject to change without notice
- $325.00 application fee
- Mortgage loan rates available on owner-occupied primary or secondary residences
- Property insurance and title insurance are required, and if applicable flood insurance will be required.
- Loan to value ratios greater than 85% require PMI approval
- Loan to value not to exceed 90%
| Term | Points | Rate % | APR | Payment per Thousand |
|---|---|---|---|---|
| 10 year | 0 | 5.250% | 5.250% | $10.73 |
| 15 year | 0 | 5.500% | 5.500% | $8.17 |
| 20 year | 0 | 6.000% | 6.000% | $7.16 |
| 30 year | 0 | 6.250% | 6.250% | $6.16 |
Home Equity Loans
We offer fixed rates up to 15 years. A smart way to use the equity in your home is for debt consolidation, auto purchase, college, home improvements and more. Check with your tax advisor for information on deducting the interest. Millville Savings will lend up to 80% of the Loan to Value on a 1st position or up to 65% Total Loan to Value on a 2nd lien position.
- Rates are subject to change without notice
- Home Equity Fixed Rate Fixed Term Loans
- 1st position or 2nd lien position on owner occupied primary residence, Property Insurance is required. Flood Insurance if applicable is required.
| Term | Rate | Payment per Thousand | Auto Deduct |
|---|---|---|---|
| 5 year | 5.750% | $19.22 | 5.500% |
| 7 year | 6.250% | $14.74 | 6.000% |
| 10 year | 6.500% | $11.36 | 6.250% |
| 15 year | 6.750% | $8.86 | 6.500% |
| 20 year | 6.750% | $7.61 | 6.500% |
Home Equity Credit Lines
Find the cash you need fast in your home with a Millville Savings line of credit. Variable interest rate tied to Wall Street Journal’s Prime Rate with a 15 year repayment schedule
- Rates Subject to change without notice
- Rates are variable based on Wall Street Journal Prime with a floor of 4.00%.
- Repayment terms are based on a 180 month term
- Owner occupied 1st lien position up to 80% Loan to Value or 2nd lien position up to 65% Total Loan to Value
- Ceiling Rate is 6% over interest rate at the time of signing.
- Minimum monthly payment $150.00
Investment Property Loans
Let your investment work for you. Do you need extra cash to make improvements or reinvest? We can help!
- Rates subject to change without notice
- Maximum 7 year balloon/20 year amortization
- Non Owner Occupied, 35% down and $325.00 Application Fee.
- Property Insurance is required.
- Flood insurance if needed is required.
- Personal guarantees required
- Loans with Loan to Value of 65%.
| Rate | Points | Payment per Thousand |
|---|---|---|
| 7.00% | 0 | 7.75 (20 years) |
Account Loans
Borrow against your savings for fast cash loans. . Easy repayment schedules when you use your own savings or certificate of deposit as collateral.
- Rates subject to change without notice
- The account is held as collateral until loan is paid in full. Loan to Value 90%
- Interest rate is 5.00%
Construction
Found the home of your dreams that needs some major TLC? We can handle that! Are you planning a major remodel to your existing home? We can handle that too! Stick-built and Modular Construction to Permanent mortgages also available.
- Rates subject to change without notice
- Rate is based on Wall Street Journal Prime plus 1.50%
- Property Insurance is required.
- Flood insurance if needed is required.
- Loans with Loan to Value of 80%
- Interest Only
- 12 Month Term