Lending Department
At Pilgrim Co-operative Bank we provide a wide selection of loans. As a local lender, decisions are made quickly, usually within hours.
Our Current Rates
| Home Mortgage Rates Rates are effective as of January 18, 2020 |
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| Loan Type | Rate | APR* | Points | Monthly Payments Per $1,000 Borrowed |
|
| 1/1 ARM | 4.500% | 6.513% | 1 | $5.07 | |
| 1/1 ARM | n/a | n/a | n/a | n/a | |
| 3/1 ARM | 5.875% | 6.438% | 0 | $5.92 | |
| 5/1 ARM | 6.000% | 6.383% | 0 | $6.00 | |
| Loan Type | Rate | APR* | Points | Monthly Payments Per $1,000 Borrowed |
| 10 Year Fixed | 5.500% | 5.735% | 1 | $10.85 |
| 10 Year Fixed | 5.625% | 5.625% | 0 | $10.91 |
| 12 Year Fixed | n/a | n/a | n/a | n/a |
| 12 Year Fixed | n/a | n/a | n/a | n/a |
| 15 Year Fixed | 5.500% | 5.665% | 1 | $8.17 |
| 15 Year Fixed | 5.750% | 5.750% | 0 | $8.30 |
Annual Percentage Rates (APR) assume a 20% down payment. The 5/1 ARM assumes a 30 year term with the interest rate fixed for the initial 60 months of the loan; thereafter the rate & payment may adjust every 12 months; interest rate caps of 2% annual and 6% lifetime, and a 2.250% margin.
Rates are subject to change without notice.
*Annual Percentage Rate
| Consumer Loan Rates Rates are effective as of January 18, 2020 |
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| Loan Type | Term | Down Payment | APR* | Monthly Payments Per $1,000 Borrowed |
| New Auto 2019** | 36 Months | 20% | 4.99% | $29.97 |
| 48 Months | 20% | 4.99% | $23.02 | |
| 60 Months | 20% | 5.75% | $19.22 | |
| 72 Months | 20% | 6.25% | $16.69 | |
| Used Auto 2002,2003 &2004 |
36 Months | 20% | 6.00% | $30.42 |
| 48 Months | 20% | 6.25% | $23.60 | |
| 2000 & 2001 | 36 Months | 30% | 6.00% | $30.42 |
| 36 Months | 20% | 6.00% | $30.42 | |
| 1997,1998 & 1999 | 36 Months | 40% | 8.50% | $31.57 |
| Auto Pre 1997 | 36 Months | 40% | 11.00% | $32.74 |
| Personal Unsecured | Up to 36 Months | 11.00% | $32.74 | |
* All references to APR are for Annual Percentage Rate. All terms, rates and conditions are subject to change without notice. We offer a 25% discount if your loan payment is withdrawn directly from your Pilgrim Co-operative Bank checking or savings account.
**A 2019 auto with over 5,000 miles is considered a used car.
Auto Loans
TIme for a new car? Whether buying new or used, we can help you drive away with a great rate.
Personal Loans
Need to consolidate bills? Have an unexpected expense? A Personal Loan from Pilgrim Co-operative Bank can help!
Education Loans
We offer a variety of loans for parents and students.
Mortgages
We have a program to fit every situation – including fixed rate mortgages, adjustable rate mortgages (ARMs), jumbo mortgages and programs for first time home buyers.
Financing for Homeowners
AHome Equity Line of Creditcould be the most flexible and affordable solution for financing the important things in life. It makes borrowing money as easy as writing a check. The rate is adjustable, and the interest you pay may be tax-deductible (check with your tax advisor).
Prefer a fixed interest rate and fixed monthly payments? OurHome Equity Loanoffers a competitive rate and the interest you pay may be tax-deductible (check with your tax advisor).
For more information
Please contact us if you have any questions about our loan services or to request a loan application. You can visit any of our offices, or give us a call at (781) 383-0541.