Corporate Office Address

1920 Rock Spring Road
Forest Hill, MD 21050
410-420-9600
410-254-3737

 

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Today' s Rates - Current as of

 

Deposit Rates
Variable Rate AccountsAnnual Percentage Yield (APY)Interest RateMinimum to OpenMinimum Balance to Earn Stated APY
Super Statement Savings 0.10% 0.10% $500.00 $500.00
Statement Savings 0.10% 0.10% $25.00 $25.00
Online Ultra Savings Account 0.15% 0.15% $500.00* $500.00
**Money Market with Checking 0.10% 0.10% $2,500.00 $2,500.00
Elite Money Market 0.25% 0.25% $40,000.00 $40,000.00
  0.20% 0.20%   **$2,500.00 to $39,999.99
MB NOW Checking 0.10% 0.10% $100.00 $250.00
MB Ultimate NOW Checking 0.25% 0.25% $25,000.00 $25,000.00
  0.20% 0.20%   $.01 - $24,999.99
"Simplicity" NOW Checking N/A N/A $100.00 N/A

 

Certificate of Deposit Rates
Certificate of DepositAnnual Percentage Yield (APY)Interest RateMinimum Balance to Open and Earn Stated APY
6 Month    0.20%   0.20% $500.00
***12 Month   0.30%   0.30% $500.00
14 Month   0.35%   0.35% $500.00
18 Month   0.50%  0.50% $500.00
***24 Month   0.75%  0.75% $500.00
30 Month   0.90%  0.90% $500.00
36 Month   1.05%  1.05% $500.00
48 Month   1.30%  1.30% $500.00
***60 Month   1.51%  1.50% $500.00

 

   DISCLOSURES FOR ALL CHECKING AND SAVINGS PRODUCTS

  • *Maximum opening amount is $200,000.
  • **No interest earned on balances below $2500.00
  • *** Terms also offered for IRA certificates of deposit. IRA certificates of deposit only: The minimum balance to open and earn stated APY is $250.00.  Additional deposits are allowed with a minimum of $10.00.
  • Savings products are offered at all of our branch locations for customers residing in Maryland and York County, PA. All applicants must physically come into the branch to open the account. The Online Ultra Savings Account is offered through our website for all legal U.S. residents living in one of the 50 states. Proper identification must be supplied at account opening.
  • Rates are subject to change without notice.
  • Deposits earn interest from the day of deposit to day of withdrawal. Fees may reduce earnings. We use the daily balance method to calculate the interest. This method applies a periodic rate to the principal in the account each day.
  • No additional deposits for Certificate Accounts, with the exception of IRA accounts.
  • A penalty will be imposed on Certificate Accounts that is equal to 90 days of simple interest on the withdrawn amount on account terms of 12 months or less. On account terms exceeding 12 months the penalty imposed will be 180 days of simple interest. The penalty will invade the principal if the penalty amount is greater than the interest earned at the time of withdrawal.
  • NOW checking accounts are available for consumers and non-profit corporations.

 

1st Time Homebuyer Program Purchase Loan (up to $417,000) Rates
Loan ProgramInterest Rate PointsAnnual Percentage Rate (APR)Rate/$1000Maximum Loan to Value (LTV)
30 Year Fixed Rate 4.125% 0 4.152% 4.85 80%*

  • Call for rate terms and conditions for LTVs between 80 -95%, owner occupied purchase.
  • Borrower must be first time homebuyer as defined below:
    • An individual who has had no ownership in a principal residence located within Madison Bank's assessment area during the 3-year period prior to the date of purchase of the property.
    • A single parent who has only owned with a forner spouse while married.
    • An individual who is a displaced homemaker and has only owned with a spouse.
    • An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
  • Available for purchase of  1 - 4 family owner-occupied primary residence.
  • Underwriting fee waived.
  • Collateral property must be located within Madison Bank assessment area.  Please call 1-866-730-9600 for details.

 

Residential Purchase/Refinance Loan (up to $417,000) Rates
Loan ProgramInterest Rate PointsAnnual Percentage Rate (APR)Rate/$1000Maximum Loan to Value (LTV)
7 Year Fixed Rate 3.000% 0 3.120% 13.21 80%*
10 Year Fixed Rate 3.250% 0 3.336% 9.77 80%*
12 Year Fixed Rate 3.375% 0 3.448% 8.45 80%*
15 Year Fixed Rate 3.375% 0 3.446% 7.09 80%*
20 Year Fixed Rate 4.000% 0 4.048% 6.06 80%*
30 Year Fixed Rate 4.375% 0 4.410% 4.99 80%*
  • Maximum LTV for Purchase - 80%.
  • Maximum LTV for Refinance - 80%.
  • *Call for rate terms and conditions for LTVs between 80 -95%, owner occupied purchase/refinance or construction permanent loans.
Residential Construction Permanent (up to $417,000) Rates                   Note:  The rate is the same for both the construction & permanent phase.
Loan ProgramInterest RatePointsAnnual Percentage Rate (APR)Rate/$1000Maximum Loan to Value (LTV)
7 Year Fixed Rate 3.000% 1 3.477% 13.21 80%*
 10 Year Fixed Rate 3.250% 1 3.600% 9.77  80%*
 12 Year Fixed Rate  3.375% 1 3.674%  8.45  80%*
15 Year Fixed Rate   3.500%   1  3.747%  7.15  80%*
20 Year Fixed Rate 4.00% 1 4.197% 6.06 80%*
30 Year Fixed Rate 

 4.375% 

 0   4.443% 4.99  80%*
  • Licensed builder required.
  • 1 settlement.  Construction term is 6 months and interest only will be billed monthly during construction, based on outstanding draws. At settlement construction funds are placed in an account and draws will be released upon satisfactory inspections. A  maximum of 65% of the lot value may be released at settlement. At the end of the construction a permanent loan will be established to amortize the loan which will include principal and interest.  Escrow for real estate taxes and other insurances may be required. 
  • *Call for rate terms and conditions for LTVs between 80 - 95% , owner occupied purchase/refinance or construction permanent loans.
Residential Home Equity Installment Loan (up to $100,000) Rates
Loan ProgramInterest Rate PointsAnnual Percentage Rate (APR)Rate/$1000
 5 Year Fixed Rate 3.875% 0 3.970% 18.36
7 Year Fixed Rate 4.375% 0 4.445% 13.84
10 Year Fixed Rate 4.500% 0 4.550% 10.36
15 Year Fixed Rate 5.500% 0 5.535%  8.17
  • Maximum LTV for Total Liens - 80%. 

 

Variable Rate Residential Home Equity Lines of Credit (up to $100,000) Rates 
Loan ProgramInterest RateAnnual Percentage Rate (APR)Maximum Loan to Value (LTV)
20 Year

Introductory Rate is 2.750% for one (1) year,

Rate thereafter is Prime Rate + 0%

Current Prime Rate is 3.250%

Introductory Rate is 2.750% for one (1) year,

Rate thereafter is Prime Rate + 0%

Current Prime Rate is 3.250%

80%

 

  • The Annual Percentage Rate (APR) may vary.  The initial or introductory APR is discounted and is effective for the first year of the loan based on the date of funding.
  • After the 1 year anniversary, the APR is a variable periodic rate and will be determined monthly based on the Prime Rate as of the first business day of the month, in which the billing cycle begins, as published in the Wall Street Journal.  Current Prime Rate is 3.250%.
  • The minimum APR, after the initial discounted period, is 3.250%.  The maximum APR is 18.000%.
  • The Draw Period is the first 10 years of the loan.  The Repayment Period is the last ten years of the loan. 
  • Minimum payment during the Draw Period is the greater of 1.0% of the outstanding balance on the last day of the billing cycle plus accrued finance charges or $50.00.  Minimum payment during the Repayment Period is the greater of 1/120th of the outstanding balance, on the last day of the billing cycle just prior to the beginning of the Repayment Period, plus accrued finance charges or $50.00. 
  • Fees/costs typically range between $1,500.00 and $2,000.00.  Madison Bank will pay the portion of your closing costs associated with this Line of Credit, however, you shall reimburse us promptly for such cost that Madison Bank has paid on your behalf, if the Line of Credit is terminated for any reason before the third anniversary of the closing of this loan.
  • Maximum LTV for Total Liens - 80%.
Residential Building Lot Loan (up to $400,000) Rates 
Loan ProgramInterest RatePointsAnnual Percentage Rate (APR)Rate/$1000Maximum Loan to Value (LTV)
20 Year Fixed Rate/5 Year Callable Option 6.000% 1 6.177% 7.16 65%

 

  • Lot Loans will require a perk test and potability test prior to settlement if the site will be serviced by a well and/or septic.
  • Feasibility study may be required.

     ADDITIONAL DISCLOSURES FOR ALL LENDING PRODUCTS

  • For fixed rate loans, to estimate your monthly payment divide your loan amount by 1000 and multiply by the rate per thousand. The rate per thousand is based on principal and interest and does not include taxes or insurance; your actual payment will be greater. The terms of repayment can be estimated by multiplying your monthly payment by the number of months in the loan.
  • Escrow, for real estate taxes and applicable insurances may be required.
  • LTV's are based on the lesser of sales price, acquisition costs or the real estate valuation.
  • Our lending territory is the Baltimore Metropolitan area & York County, PA.
  • Proper identification must be supplied by all applicants, in person, at or prior to loan settlement.
  • The APR for Residential Purchase/Refinance, Construction Permanent/Rehab and Lot Loans is based on a loan amount of $200,000.00 with typical fees and 20% down payment/equity. The APR for Residential Home Equity Installment Loans and Lines of Credit is based on a loan amount of $100,000.00 with typical fees and 20% total down payment/equity.
  • Interest Rates will be locked in for a period up to 60 days from the date of application. All loans subject to credit and property approval.
  • Rates and terms are subject to change daily.
  • The stated rates for Residential Purchase/Refinance and Construction Permanent/Rehab loans are for loan amounts up to $417,000.00 on 1-4 family owner occupied homes. The stated rates for Residential Lot loans are for loan amounts up to $400,000.00 on finished buildable lots.  The stated rates for Residential Home Equity Installment loans and Lines of Credit are for loan amounts up to $100,000.00 on 1-4 family owner occupied homes.  Contact the mortgage department at 1-866-730-9600 for credit cost and terms and for information on additional loan products.
  • A fee for credit report may be required at time of application. Fees for appraisal and flood certification may be required prior to loan approval. Fees may vary.
  • Loans are subject to credit approval.
  • Consult your tax adviser regarding deductability of interest and charges.

 

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