Interest rate for 10 year term under 5%
We are pleased to announce that we have closed a 10-year fixed loan with an interest rate of 4.83%. This is the lowest rate for a 10-year loan that we have closed in our 6 years of operation. Our client was able to lock his rate for 60 days upon loan registration. This early lock saved almost one point on the interest rate, compared to what his rate would have been at the time of commitment. The current atmosphere of rising rates makes 4.83% look very sweet indeed.
The loan is non-recourse, has an assumable mortgage feature, and is amortized over 30 years.
7 Oak St., Peabody, MA