Accelerator Mortgage
Thinking of refinancing a mortgage from another lender? The Accelerator Mortgage offers the same great advantages as the Cost Saver Mortgage, with shorter terms for those who want to pay their mortgage off quickly. This mortgage is for refinances only and is especially attractive for someone planning for retirement.
- No closing costs+
- No flood certification fee!
- No document preparation fees!
- No credit report fee!
- No recording fees!
- No title insurance fee!
+A non-refundable origination fee of $400 is required. The borrower is responsible for any fees or costs charged or required by their current lender to have the loan refinanced with Charter Oak. Additional costs will apply for mortgages titled in the name of a trust. Borrower is responsible for property insurance and pre-paid interest. Charter Oak requires escrows for taxes and if applicable, flood insurance.
* APR = Annual Percentage Rate. All rates subject to change daily. This program is only for refinances of single-family owner occupied detached dwellings and condominiums in FHLMC approved projects located in Connecticut and Rhode Island. Not available for refinancing of existing Accelerator Mortgage loans. Minimum loan amount of $25,000 and a maximum loan amount of $250,000. Maximum LTV 80%. An 8-year fixed $100,000 loan with interest rate of 2.99% is repayable in 96 monthly payments of $1,172.50 (principal and interest). A 12-year fixed rate $100,000 loan with an interest rate of 3.30% is repayable in 144 monthly payments of $841.94 (principal and interest).
