Current Rates

Rates are effective as of Tuesday, August 31, 2010
and are subject to change without notice.

 

Mortgages
Term	Interest Rate	APR*	Monthly P&I*
7 Year Balloon**	5.75%	5.772%	$583.57 for 84 months
3-1 A.R.M.***	5.00%	5.984%	$536.82 for 36 months
5-1 A.R.M.***	5.25%	5.143%	$552.20 for 60 months
10 Year Fixed	3.625%	3.801%	$994.72 for 120 months
15 Year Fixed	3.75%	3.872%	$727.22 for 180 months
20 Year Fixed	4.25%	4.347%	$619.23 for 240 months
30 Year Fixed	4.375%	4.446%	$499.29 for 360 months
Fixed Rate 2nd Mortgages
Term	Interest Rate	APR*	Monthly P&I****
5 Year Fixed 2nd	6.50%	6.571%	$195.66 for 60 months
10 Year Fixed 2nd	6.75%	6.791%	$114.82 for 120 months
15 Year Fixed 2nd	7.00%	7.031%	$89.88 for 180 months

Note: APR = Annual Percentage Rates.

Mortgage Rates are as of Friday, September 3, 2010.

• Rates are subject to change at any time.

• Rates quoted represent only a sample of the programs we offer.  Call for more options.

• *The rates and monthly payment schedule (principal and interest) assume a 20% down payment on the purchase of an owner-occupied property resulting in a loan of $100,000.  Rates may vary depending on loan size.

• Rates based on a lock period of 30 days.

• The rates listed above are based upon purchase transactions with representative credit score of 740 or greater.  Rates may vary for borrowers with lower credit scores.

• **Amortized over 30 years with a final payment of $89,233.77 due at the end of 48 months.

• ***Interest rate is fixed for an initial period of three or five years.  Loan is amortized over a period of 30 years.  Rates will adjust annually thereafter not to exceed 2% at each adjustment and not to exceed 6% over the term of the loan.

• ****The rates and monthly payment schedule (principal and interest) for the Fixed Rate 2nd Mortgages assume a $10,000 loan on an owner-occupied single-family residence or owner-occupied duplex.

 

View our Loan Application Checklist

[Top]

---

 

Business Loans (as low as)
Term	APR*
5 Year	6.25%
Interest Rates are subject to credit approval.
Real Estate Business Loans (as low as)
Term	APR*	Amortized
5 Year Balloon	6.00%	Up to 25 Years
7 Year Balloon	6.90%	Up to 25 Years
Interest Rates are subject to credit approval.

* Annual Percentage Rate. Subject to credit approval.

[Top]

---

 
 

Savings Accounts
Account Type	APY*	Interest Rate	Minimum Deposit to Open	Interest Compounds
Regular Savings	0.25%	0.25%	$10	Daily
Christmas Club	.65%	.65%	$10	Daily
Cowabunga Kid's Club	1.76%	1.75%	$10	Daily

Note: Fees could reduce earnings.*Annual Percentage Yield. 

[Top]

---

 

Lifetime Checking
Balance to Maintain APY	APY*	Interest Rate	Minimum Deposit to Open
$200.00 to $2,499.99	.15%	.15%	$200
$2,500.00 to $9,999.99	.25%	.25%	$200
$10,000 to $19,999.99	.30%	.30%	$200
$20,000 or more	.40%	.40%	$200

*Annual Percentage Yield **If your balance falls below $200 within the monthly statement cycle, the account will be assessed a $5.00 charge, plus $.25 per check over 10 for that monthly period.  Fees could reduce earnings.

[Top]

---

 

Regular Money Market
Balance to Maintain APY	APY*	Interest Rate	Minimum Deposit to Open
$0 to $2,499	.15%	.15%	$2,500
$2,500 and greater*	.35%	.35%	$2,500
Gold Premier Money Market
Balance to Maintain APY	APY	Interest Rate	Minimum Deposit to Open
Up to $4,999	.35%	.35%	$5,000
$5,000 to $24,999	.40%	.40%	$5,000
$25,000 to $49,999	.50%	.50%	$5,000
$50,000 and greater**	.55%	.55%	$5,000

*Annual Percentage Yield

**If the balance falls below $2,500 during the monthly cycle an $8.00 service charge will be assessed to your account.
*** If the balance falls below $5,000 during the monthly cycle an $8.00 service charge will be assessed to your account.

[Top]

---

 

Certificates of Deposits
Term	APY*	Interest Rate	Minimum Deposit to Open	Interest Compounds
91 Day	.46%	.45%	$500.00	Quarterly
6 Month	.61%	.60%	$500.00	Quarterly
12 Month	.81%	.80%	$500.00	Quarterly
18 Month	.97%	.95%	$500.00	Quarterly
30 Month	1.43%	1.40%	$500.00	Quarterly
48 Month	2.35%	2.30%	$500.00	Quarterly
Special Promotions
13 Month	1.22%	1.20%	$1,000.00	Quarterly
29 Month with checking account relationship	1.84%	1.80%	$1,000.00	Quarterly
29 Month with checking account relationship	1.99%	1.95%	$1,000.00	Quarterly

* Annual Percentage Yield **Penalty for early withdrawal

[Top]

---

 

Individual Retirement Accounts
Term	APY*	Interest Rate	Minimum Deposit to Open	Interest Compounds
IRA Builder Passbook	.85%	.85%	$10.00	Quarterly
6 Month	.71%	.70%	$500.00	Quarterly
12 Month	.92%	.90%	$500.00	Quarterly
18 Month	1.07%	1.05%	$500.00	Quarterly
30 Month	1.53%	1.50%	$500.00	Quarterly
48 Month	2.46%	2.40%	$500.00	Quarterly

* Annual Percentage Yield

[Top]

For more information, email us at info@morrisbl.com