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Mortgage Rates
Effective Date: December 11, 2018

Annual Percentage Rate (APR) effective December 6, 2018, and subject to change without notice.  All APR's are calculated based on a $250,000 loan for an owner-occupied single family dwelling with a 20% down payment and no points.  APR's will be slightly higher on 2,3, or 4 family owner-occupied dwellings; however, will have the same interest rate as single family dwellings.  Fixed rates are based on loan-to-value and credit scores.  For fixed rates on 2-4 family dwellings, please contact us at 617-387-1110.  Rates on ARM's are fixed for the first 3, 5, 7, or 10 years, then adjust annually at a margin above the weekly average yield on the U.S. Treasury Index adjusted to a constant maturity of 1 year.  All rates on ARM's are subject to increase after consummation of the loan.  Our 10/1 ARM's have a floor of 4.625%, 7/1 ARM's have a floor of 4.250%, 5/1 ARM's have a floor of 3.750%, and 3/1 ARM's have a floor of 3.500%.  These payments do not include taxes and insurance; therefore, your actual payment obligation may be greater. 

*Rates will increase .25% if borrower elects not to have automatic payment deduction from a checking account.  Restrictions apply for minimum credit score, maximum loan-to-value, debt ratios, household income, loan amount, and other underwriting factors.  All applications are subject to credit approval.

Home Equity Loans
Effective Date: December 11, 2018

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: December 11, 2018

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 5.25% as of September 27, 2018. Maximum APR is 18%. The current APR based solely on the index and rate is 4.740%. 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.  Everett Bank will donate $100 to Habitat P.L.U.S. (a veteran organization) when the home equity line closes.

Money Market Rates
Effective Date: December 11, 2018

*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: December 11, 2018

*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 14 Month Certificate and 17 Month Certificate will automatically renew at maturity to a 12 Month Certificate unless the customer chooses another product. The 14 Month Certificate is eligible for an Individual Retirement Account. The 17 Month Certificate does not apply to Individual Retirement Accounts.  Consumer accounts only and a maximum deposit of $250,000.00. No out of state deposits. A penalty may be imposed for early withdrawal.

Certificate of Deposit Rates
Effective Date: December 11, 2018

*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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