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Real Estate Rates

 

Mortgages

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We've built our online mortgage process so that you can easily handle the whole thing yourself, 100% digitally. But we're here for you if you need any additional help or guidance! If you get stuck or have a question you can't find the answer to, reach out to work directly with a member of our team.

Phone: 617-253-2845

Email: mortgages@mitfcu.mit.edu

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Mortgages and Homebuying

 

 

Home Equity Loans
Effective Date: Tuesday, August 16th, 2022
TermLoan to Value Ratio**APR*Payment/$1000
HOME EQUITY LOANS UP to 80% LTV
5 Years 80% 5.75% $19.22
10 Years 80% 6.00% $11.10
15 Years 80% 6.25% $8.57
20 Years 80% 6.50% $7.46
HOME EQUITY LOANS UP to 90% LTV
5 Years 90% 6.00% $19.33
10 Years 90% 6.25% $11.23
15 Years 90% 6.50% $8.71
20 Years 90% 6.75% $7.60

Home Equity Lines
Effective Date: Tuesday, August 16th, 2022
Repayment PeriodLoan to Value Ratio**APR*
Monthly Adjustable 80% LTV
Up to 15 Years 80% 5.50%
Up to 20 Years 80% 5.75%
Monthly Adjustable 90% LTV
Up to 15 Years 90% 5.75%
Up to 20 Years 90% 6.00%

Mortgages

Rates available as fixed or adjustable options.

Real Estate Accounts Disclosures

Maximum APR: The maximum APR on Home Equity Loans and Lines of Credit is 18%.

* APR = Annual Percentage Rate. Rates are valid as of 8/16/2022, and are subject to change without notice. Payment example: A loan of $15,000 with a term of 180 months and an APR of 5.00% has a monthly payment of $118.65.

** Payment example included principal and interest only, payment does not include amounts for taxes and insurance premiums, if applicable, which will increase your payment obligation; you are responsible to ensure that taxes and insurance obligations are satisfied.

*** Real Estate Equity Lines of Credit are indexed to the Prime Rate published in the “Money” section of The Wall Street Journal. For monthly adjustable Home Equity Lines of Credit, the APR can change on the first day of each month and is established ten days prior to the first day of the month. For annually adjustable Home Equity Lines of Credit, the APR can change once per year on January 1, and the rate is established 30 days prior to this date.

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