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Mortgage Rates
Effective Date: June 01, 2020

Program

Interest Rate

APR

Monthly payments per $1000 borrowed

*3/1 Adjustable Rate

(caps 2/6 / repayment schedule based on 30 years)

2.875%

2.945%

36 payments of $4.15

Floor

2.875%

324 payments of $4.15

*5/1 Adjustable Rate

(caps 2/6 / repayment schedule based on 30 years)

2.990%

2.981%

60 payments of $4.21

Floor

2.990%

300 payments of $4.21

*7/1 Adjustable Rate

(caps 2/6 / repayment schedule based on 30 years)

3.375%

3.170%

84 payments of $4.42

Floor

3.375%

276 Payments of $4.42

15 Year Fixed Rate

2.875%

2.981%

180 payments of $6.85

30 Year Fixed Rate

3.440%

3.499%

360 payments of $4.46

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Annual Percentage Rate (APR) effective May 29, 2020 and subject to change without notice.  All APR's are calculated based on a $250,000 loan for an owner-occupied single family dwelling (1 Family) with a 20% down payment and no points. Fixed rates are also based on Loan to Value and Credit Scores. Rates on Adjustable Rate Mortgages are fixed for the first 3, 5, or 7 years, then adjust annually at 2.75% above the weekly average yield on the U.S. Treasury Index adjusted to a constant maturity of 1 year. Caps on 3, 5, and 7 year Adjustable Rate Mortgages are 2/6. All rates on Adjustable Rate Mortgages are subject to increase after consummation of the loan.  Our 7/1 Adjustable Rate Mortgages have a floor of 3.375%, 5/1 Adjustable Rate Mortgages have a floor of 2.990%, and 3/1 Adjustable Rate Mortgages have a floor of 2.875%.  These payments do not include taxes and insurance; therefore, the actual payment obligation may be greater, if secured by a first lien. 

*Rates will increase .25% if consumer elects not to have automatic payment deduction from a checking account. Subject to credit approval.

Home Equity Loans
Effective Date: June 01, 2020

Program

Term

Interest Rate

APR*

Monthly payments per $1000 borrowed

Home Equity Fixed Rate Loan

5 Years

4.500%

4.500%

$18.64

Home Equity Fixed Rate Loan

10 Years

5.000%

5.000%

$10.61

Home Equity Fixed Rate Loan

15 Years

5.250%

5.250%

$8.04

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For home equity loans on 1-4 Family investment properties, add 1% to the quoted interest rates.

*Annual Percentage Rate (APR). Payments do not include taxes and insurance. Your payment may be greater if the loan is secured by lien.

Home Equity Line of Credit
Effective Date: June 01, 2020

Program

Term

Interest Rate1

APR

Home Equity Line of Credit

10 yr draw / 15 yr repayment

4.00% variable rate PRIME - .51%

4.00% variable rate PRIME - .51%

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Rate and Annual Percentage Rate (APR) are available on owner-occupied 1-4 family homes and condominiums. Minimum loan/line amount is $10,000 and maximum is $250,000. This assumes that Line of Credit is behind a conventional first mortgage. Everett Cooperative Bank lien must be in second position for these loan terms. Payments do not include taxes and insurance. Your payment may/will be greater if the loan is secured by a first lien. If loan/line is in first position, borrower may be responsible for additional closing costs including plot plan, title search, title insurance, etc. Estimated closing costs range from $175 - $1,000. Total liens on real estate may not exceed 75% of its current appraised value. Homeowner's insurance is required on the home securing the loan/line. Consult your tax advisor regarding the deductibility of interest paid. Rates quoted are for terms of 5-15 years. CALL US FOR INFORMATION REGARDING NON OWNER OCCUPIED 1-4 FAMILY HOMES AND CONDOMINIUMS OR LOANS TO SELF- EMPLOYED INDIVIDUALS AS THE APR MAY BE HIGHER. If you cancel or terminate your line of credit within the first 36 months of the date of the note, you will be assessed a termination/prepayment fee equaling $500. 

1 The variable rate is equal to the Prime Rate minus .51% for the life of the line, with a floor of 4.00%. Prime Rate is 3.25% as of March 17, 2020. Maximum APR is 18%. The current APR based solely on the index and rate is 4.00%. Rates and APR for all lines adjust monthly based on the Wall Street Journal Prime Rate published in its money rates section on the 13th of the month. Automatic payment is required from an Everett Bank checking account.  Homes currently for sale or intended to be sold within 12 months are not eligible for these terms. Loan applications subject to credit approval.  

Money Market Rates
Effective Date: June 01, 2020

Program

Minimum deposit to open account

Minimum Balance to Optain APY

Interest Rate

APY*

Money Market

$2,500.00

$10.00 to $2,499.99

0.10%

0.10%

$2,500 or more

0.25%

0.25%

Triple Tier Money Market

$25,000.00

$25,000 to $49,999.99

0.25%

0.25%

$50,000 to $74,999.99

0.50%

0.50%

$75,000 to $250,000.00

0.75%

0.75%

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*Rates are variable and subject to change after account opening. Annual Percentage Yield (APY) is accurate as of the above effective date. Fees could reduce the earnings on these accounts. Consumer accounts only.

Certificate of Deposit - Special
Effective Date: June 01, 2020

Term

Interest Rate

APY*

**9 Months

1.00%

1.00%

**14 Months

1.09%

1.10%

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*Annual Percentage Yield (APY) is subject to change without notice. Fixed rate term Certificate of Deposits accounts, rates are guaranteed for the length of the term. Minimum deposit to open account and to obtain the APY is $500 unless otherwise specified. APY is based on principal and interest remaining in the account for a period of one year. 

**The 9 Month Certificate will automatically rollover at maturity to a 6 Month Certificate unless the customer chooses another product and the 14 Month Certificate will automatically rollover at maturity to a 12 Month Certificate unless the customer chooses another product. Consumer accounts only and a maximum deposit of $250,000.00. No out of state deposits. A penalty may be imposed for early withdrawal. The 9 Month Certificate does not apply to Individual Retirement Accounts (IRAs).

Certificate of Deposit Rates
Effective Date: June 01, 2020

Term

Interest Rate

APY*

91 Day

0.25%

0.25%

6 Months

0.30%

0.30%

12 Months

0.50%

0.50%

18 Months

0.65%

0.65%

24 Months

1.00%

1.00%

30 Months

1.24%

1.25%

36 Months

1.00%

1.00%

48 Months

1.29%

1.30%

60 Months

1.54%

1.55%

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*Annual Percentage Yield (APY) is subject to change without notice. Fixed rate term Certificate of Deposits accounts, rates are guaranteed for the length of the term. Minimum deposit to open account and to obtain the APY is $500 unless otherwise specified. APY is based on principal and interest remaining in the account for a period of one year. Penalty may be imposed for early withdrawal. Consumer accounts only and a maximum deposit of $250,000.00. No out of state deposits. ECB NOW Checking Account is requested.


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