Mortgage Rates

Annual Percentage Rate (APR) shown is the lowest rate offered, including discounts and based on credit score. Rates are subject to change without notice.

Annual Percentage Rate (APR) is accurate as of the date shown above. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. 

Rates shown are for informational purposes only.  No rate is guaranteed.  Certain rate and/point adjustments may apply depending on loan features and borrower’s credit worthiness.  Escrow for Real Estate taxes may be required which would increase your monthly mortgage payment. Property Insurance is required and Flood Insurance may be required. Other fees may be assessed, as applicable. Closing costs may apply. All mortgages are subject to credit approval. 

All rates, terms and conditions are subject to change daily and without notice. They can only be guaranteed by our Mortgage Department. For more information, please call a Mortgage Specialist at 888-436-1847.

All rates assume 80% financing with a 20% down payment. For a 1-4 family owner occupied residence, condo, or mobile home on its own land; and one-unit second homes. Loan approval is based on creditworthiness, amount financed, and ability to repay. Loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate.

Please refer as well, to the general disclosure found on this page.

3/1, 5/1, 7/1 & 10/1 Adjustable Rate Mortgage (ARM)
Loan approval, interest rate, and down payment required based on creditworthiness amount financed, and ability to repay. Loans with a down payment less than 20% require mortgage insurance which could increase the monthly payment and Annual Percentage Rate. Escrow for Real Estate taxes may be required which would increase your monthly mortgage payment. Property Insurance is required and flood insurance may be required. Other fees may be assessed, as applicable.

The index for all Adjustable Rate Mortgages is the weekly average of the U.S. Treasury securities for the applicable term. The interest rate on the ARMs will adjust periodically and that may result in an increase of the interest rate after closing. Rates, terms, and conditions are subject to change.

The 3/1 ARM offers a fixed rate for 3 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 3 percentage points. Caps are 2% annual and 6% lifetime.

The 5/1 ARM offers a fixed rate for 5 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1-year U.S. Treasury, plus a margin of 3 percentage points. Caps are 2% annual and 6% lifetime.

The 7/1 ARM offers a fixed rate for 7 years and adjusts to a 1- year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1 year U.S. Treasury, plus a margin of 3 percentage points. Caps are 5% initial, 2% annual and 5% for the lifetime cap.

The 10/1 ARM offers a fixed rate for 10 years and adjusts to a 1-year ARM after that period. The interest rate and monthly payment may adjust annually based on the 1 year U.S. Treasury, plus a margin of 3 percentage points. Caps are 5% initial, 2% annual and 5% for the lifetime cap. 

For 1 - 4 family owner-occupied residence, condo or mobile home on its own land; and one-unit second homes.

***HLPR 3/1 Adjustable Rate Mortgage (ARM)
Home-buyers at or below the median income levels with exceptions for underserved areas. Escrows for Real Estate Taxes and Insurance is required. Minimum of one consumer credit counseling consultation required to underscore member's financial preparedness. Renewal rate (4th year) based upon one-year Treasury constant maturity, plus a margin added of 2.75%. This is subject 1% maximum annual cap and a 5% lifetime cap from the original rate at inception of the loan. The initial 3-year rate will be set weekly by NECU, reflecting a discount from the national average of 3/1 ARM programs. Property Insurance is required and flood insurance may be required. Closing costs may apply if the loan is paid off within the first three years of consummation. Certain restrictions do apply. For a 1-2 family owner-occupied residence, condo, or mobile home on its own land. For purchases only.

1/1 Land Loan (ARM)

The 1/1 Land Loan ARM offers a fixed rate for 1 year and adjusts to a 1-year ARM after that period.  The interest rate and monthly payment may adjust annually based on the 1-year U.S Treasury, plus a margin of 6 percentage Points. Caps are 2% annual and 6% lifetime.

Annual Percentage Rate (APR) shown is the lowest rate offered, including discounts and based on credit score. Rates are subject to change without notice.

The Fixed 30 Year Construction loan term begins with a 12 month interest only construction period followed by a fully amortized re-payment period for the remaining 348 months.

Construction loans are only available if home is being built in New Hampshire or Maine. 

A payment example for a Construction Mortgage Loan with $100,000 loan amount and 6.250% interest rate and annual percentage rate of 6.863% will have a monthly principal and interest payment of $623.02.

The APR in the payment example was effective on April 20, 2023. The current APR may be different than the APR used in the payment example. 

The land loan is a 1/1 ARM with a term of 180 months.  The land loan requires a 30% down payment for a maximum loan to value of 70%.  The maximum loan amount is $150,000.  The land must be a buildable lot to qualify as collateral for this loan.

Minimum amount is $20,000. Maximum amount is $200,000. The loan must be in second lien position. Property insurance is required. Flood insurance is required if the property is located in a flood zone.

Annual Percentage Rate (APR) shown is the lowest rate offered and based on credit score. Rates are subject to change without notice.

The Fixed Home Renovation Loan offers a loan term of up to 240 months and begins with a 9-month interest only construction period followed by a fully amortized re-payment period for the remaining months.  For maximum term of 240 months, loan amount must be greater or equal to $100,000.

Home Renovation Loans are only available if home is being built in New Hampshire or Maine. 

All loans are subject to credit approval.

A payment example for a Home Renovation Loan with $100,000 loan amount and 7.99% interest rate and annual percentage rate of 8.249% will have a monthly principal and interest payment of $849.16.

The APR in the payment example was effective on February 26, 2024. The current APR may be different than the APR used in the payment example.