Flexible Financing For Your Dream Home
NEW Premier Plus Convertible 5/1 Adjustable Rate Mortgage (ARM)
Take Advantage of the Mortgage that Gives YOU a Choice!
The new Premier Plus Convertible 5/1 ARM from BayCoast Mortgage offers a low initial interest rate for the first 60 months, with the option to convert to a permanent fixed rate in the future with no additional closing costs or fees.
Our NEW Premier Plus Convertible 5/1 ARM offers:
Premier Plus Convertible 5/1 ARM Rates
About BayCoast Mortgage Company
We’re a full-service lender, uniquely owned by BayCoast Bank, a long-time community savings bank established in 1851. We offer competitive mortgage loans and with local decision-making. All loans are serviced through BayCoast Bank, so you know you’re in good hands.
*Initial fixed interest rate of 3.25% is for the first 60 months of the loan. After the first 60 months, the interest rate may increase along with the payment amount since the interest rate is subject to adjustment every 12 months thereafter and will be based on the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, as made available by the Federal Reserve Board (the index, which is 2.34% as of 06/17/2022), plus a margin (which is 2.75% as of 06/17/2022). The interest rate cannot increase more than 6.000 percentage points above or decrease more than 2.000 percentage points below the initial interest rate over the term of the loan.
**APR refers to the Annual Percentage Rate and is based on a 75% Loan-To-Value, $375,000 loan with no mortgage insurance. Your actual interest rate and APR may vary. Initial interest rate of 3.25% is valid as of 06/17/2022 and subject to change. Available to qualified buyers on purchase transactions only. At time of closing, borrower may opt for the conversion option, which is the ability to permanently convert from an adjustable interest rate to a fixed interest rate for the remaining term of the loan. The conversion option can only be exercised after the first 60 months of the loan, specifically on the first, second or third interest rate change date. Contact us for more information and complete program guidelines, which are subject to change without notice. All loans are subject to credit approval. BayCoast Mortgage Company is a Massachusetts and Rhode Island Licensed Lender. Also licensed in CT, NH, NJ, MD, PA, SC, NC, VA, and FL. NMLS# 1082048
NMLS ID #1082048