The Bank of Castile is located in the western part of New York state. The Bank of Castile is part of the Tompkins Financial Corporation. The bank has 14 bank branches in the region. The Bank of Castile offers a variety of mortgage products in the area served.
The bank has fixed rate mortgage programs with several terms to choose from. With these loans, mortgage customers can make regular monthly mortgage payments throughout the life of the loan or use the bank’s bi-weekly option to pay off the mortgage more quickly. The bank also has a wide selection of adjustable rate mortgages to offer you more affordability, including adjustable rate mortgages that have longer terms between rate adjustments that provide many of the same advantages of fixed rate mortgages. Construction loans are also part of the product menu in the mortgage division at The Bank of Castile. The construction loan allows for one loan closing and fewer fees. Funds from the loan are paid out during the construction period, the loan then converts to a permanent mortgage when construction is completed.
Some of the current mortgage rates offered by The Bank of Castile include:
A 15 year fixed rate mortgage with an interest rate of 4.50%, no pints and an APR of 4.588%.
A 20 year fixed rate mortgage with an interest rate of 5.00%, no points and an APR of 5.070%.
A 30 year fixed rate mortgage with an interest rate of 5.25%, no points and an APR of 5.302%.
A 3/1 adjustable rate mortgage that adjusts every three years and has an interest rate of 4.50%, no points and an APR of 4.55%.
Using today’s mortgage rates with the mortgage calculator on a $150,000 home loan, the 15 year mortgage would have a monthly mortgage payment of $1,147.48. The 20 year mortgage would have a monthly mortgage payment of $989.94. The 30 year mortgage rate would drop the payment down to $828.30. And the 3 year adjustable rate mortgage would have a monthly mortgage payment of $760.02.
The APR assumes a 20% down payment. Rates assume the loan is for an owner occupied property. Rates are subject to change without notice, and subject to credit approval. For adjustable rate mortgages, monthly payment is calculated using 30 year loan rates and may increase during the term of the loan.
The Bank of Castile can be reached at 585-493-2576. Mortgage rates updated as of January 3, 2008. Mortgage products and rates can be found on the web site at www.mybankofcastile.com
Tags: 15 year fixed rate mortgage, 30 year fixed rate mortgage, monthly mortgage payment, mortgage calculator, New York mortgage rates
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