Mortgage Calculator Assistance with Mortgage Rates in Connecticut

Buying a home and applying for a mortgage can be an experience that is both financially rewarding and an experience that often improves a family’s lifestyle.  Unfortunately the process for obtaining a home loan has become a frustrating and confusing process.  By using a bank that offers support and competitive mortgage rate the process can go much easier.  A bank in Connecticut fits that bill and with the use of the mortgage calculators and their rates, a new home loan can be obtained with quickness and simplicity.

The Torrington Savings Bank was established in 1868 and is owned by its depositors, it has no shareholders, and is operated to serve the banking and investment management needs of the twenty-three towns in Northwest Connecticut.  Torrington Savings Bank is a mutual savings bank whose primary lending area encompasses Litchfield County and a small portion of Hartford County.

Whether you are looking for a mortgage to purchase your first home or a new home, build a new home or perhaps you are interested in an equity loan or line of credit for home improvement, college tuition or debt consolidation, Torrington Savings Bank has a program for all of these scenarios and more.  The bank provides:

Fixed rate mortgages
Adjustable rate mortgages
Construction mortgages
Home equity loans
And home equity lines of credit

The 30 year fixed rate mortgage has a rate of 5.125% and based on the feedback from the mortgage calculator, the monthly payment on a $325,000.00 home loan would be $1,768.00 per month.

The 15 year fixed rate mortgage has a rate of 4.875% using the mortgage calculator for this loan yields a monthly mortgage payment on a $325,000.00 of $2,548.00 per month.

The extended length, 40 year term has an interest rate of 5.375% and with the help of the mortgage payment calculator, the monthly mortgage payment on the same size loan would be $1,647.75.

The 3/1 adjustable rate mortgage offered by the bank currently has a rate of 5.625% note rate and 3.815% APR.  Applying the mortgage calculator to these terms, the monthly mortgage payment on the sample $325,000.00 would be $1,872.00.

The fixed rate mortgage programs offered by the bank are available for monthly and bi-weekly payment schedules.  The bank offers mortgage rates for both conventional and jumbo fixed rate mortgages as well.

For additional information and current mortgage rate data consult a mortgage representative at The Torrington Savings Bank by calling 860-496-2152.  Mortgage rate information and further information is also available on the bank web site located at www.torringtonsavingslending.com.

Tags: Connecticut mortgage rates, mortgage calculator, mortgage payment calculator, mortgage rates

This entry was posted on Wednesday, January 21st, 2009 at 8:21 pm and is filed under Mortgage Ads and Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.