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Products and Services

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
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
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 We offer a 25% discount if your loan payment is withdrawn directly from your Pilgrim Co-operative Bank checking or savings account.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

A Home Equity Line of Credit could 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? Our Home Equity Loan offers 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.



  
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