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Loan Rates

Current Owner-Occupied Mortgage Programs as of October 12, 2018 for residential purchases and refinances.

 

Mortgage Loan Rates

Loan Term Interest Rate Discount Points Annual Percentage Rate (APR)

10 Years

 3.000%  2 3.488%

10 Years

3.500%  0 3.567%

15 Years

3.250%  2 3.589%

15 Years

3.750%  0 3.798%

22.5 Years

3.500%  2 3.740%

22.5 Years

4.000%  0 4.035%

30 Years

3.750%  2 3.943%

30 Years

4.250%  0 4.279%
Rates with the payment of one discount point are also available.

 

Adjustable Rate Mortgage (ARM) Plans

Amortizations of up to 30 Years

 

One Year ARM - 1/1

Initial Rate Margin Current Index Interest Rate Caps Discount Points Annual Percentage Rate (APR)
2.750%  2.750% 2.620% 2.0% / 6.0% 2 5.303%
3.250% 2.875% 2.620% 2.0% / 6.0% 0 5.313%
Loans may adjust only once each year based on the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year. Conversion option available to qualified borrowers.
 

Three Year ARM - 3/3

Initial Rate Margin Current Index Interest Rate Caps Discount Points Annual Percentage Rate (APR)
3.000% 3.000% 2.940% 3.0% / 6.0% 2 5.476%
3.500% 3.000%
2.940%
3.0% / 6.0% 0 5.421%
Loans may adjust only once every three years based on the weekly average yield on United States Treasury Securities adjusted to a constant maturity of three years.
 

Five Year ARM - 5/5

Initial Rate Margin Current Index Interest Rate Caps Discount Points Annual Percentage Rate (APR)
3.250% 3.000% 3.010% 3.0% / 6.0% 2 5.174%
3.750% 3.000% 3.010%  3.0% / 6.0% 0 5.186%
Loans may adjust only once every five years based on the weekly average yield on United States Treasury Securities adjusted to a constant maturity of five years.

 

 

Note
  • The above rates are subject to change without notice.
  • Visit Dearborn Federal Savings Bank's website: www.mydfsb.com
  • Rate lock period 60 days from date of application.
  • Maximum loan amount is $500,000 for fixed and ARMs with conversion option. Jumbo mortgages are available.
  • Lending territory includes Wayne, Oakland, Macomb, Livingston, Washtenaw, Monroe, St. Clair and Lenawee Counties.