Mortgages

Mortgage Rates

All products and rates quoted are for Owner Occupied 1-4 family. Private Mortgage Insurance (PMI) required if Loan to Value (LTV) exceeds 80% or if noted otherwise. Other rates and terms may be available based on credit worthiness.

Please contact a People's Mortgage Specialist for additional details. People's Credit Union has a variety of additional terms available for you. Please contact us if you do not see a product that you would like information on. You can reach us at 401.848.2700.

Rates are subject to change without notice.

Adjustable Rate Mortgages

Effective: May 9, 2008

Program	Interest Rate	Points	APR*	Monthly Payments
5 to 1 ARM	5.25%	0	4.72%	Payments 1-60 $552.20 Payments 61-360 $505.68
10 to 1 ARM	5.75%	0	5.19%	Payments 1-120 $583.57 Payments 121-360 $520.27

*Annual Percentage Rate (APR) subject to change without notice. 5 to 1 Adjustable Caps 2%-6%. 10 to 1 Adjustable Cap 5% after initial 10 years; 2%-5% thereafter. Margin 2.50% Index 1.93% All payments quoted with beginning balance of $100,000.

Fixed Rate Mortgages

Effective: May 9, 2008

Program	Interest Rate	Points	APR*	Monthly Payments
15 Year	5.375%	0	5.41%	$8.10
30 Year	6.000%	0	6.02%	$6.00
40 Year	6.375%	0	6.39%	$5.77

*Annual Percentage Rate (APR) subject to change without notice. Monthly payments are disclosed per $1,000

First Time Home Buyers Program

Effective: May 9, 2008

Program	Interest Rate	Points	APR*	Monthly Payments
10/1 ARM 1-2 Family Owner Occupied Purchase Only	5.625%	0	5.11%	Payments 1-120 $575.66 Payments 121-360 $507.42

*Annual Percentage Rate (APR) subject to change without notice. Maximum loan amount of $750,000. Purchase Only. Cap: 5% after initial 10 years; 2%-5% thereafter. Margin: 2.25% Index: 1.93% Max LTV: 95% Applicants may be required to complete a Home Buyer Education program prior to closing. All payments quoted with beginning balance of $100,000.

Equity Line of Credit

Effective: May 9, 2008

Program	Interest Rate	Points	APR*
Home Equity Line of Credit	5.00%	0	5.00%

*Annual Percentage Rate (APR) subject to change without notice. Maximum loan amount $250,000. Rate offered on lines with maximum LTV of 80%. Other rates and terms available based on credit worthiness. Owner occupied homes only.

Fixed Rate Home Equity Loans

Effective: May 9, 2008

Program	Points	APR*	Monthly Payments
10 Years	0	6.00%	$11.10
15 Years	0	6.50%	$ 8.71
20 Years	0	7.00%	$ 7.75

*Annual Percentage Rate (APR) subject to change without notice. Rate offered with maximum LTV of 80%. Monthly payments are disclosed per $1,000.