Mortgage Loans

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Fixed Rate Mortgage

This traditional mortgage offers you:

  • Fixed monthly principal and interest payments for the entire life of the loan
  • Terms available for up to 30 years

Adjustable Rate Mortgage (ARM)

The interest rate will adjust after a fixed period of time, for the life of the loan. This product is ideal for the borrower:

  • Purchasing a ‘starter’ home
  • Planning on moving in a few years

We offer the following Adjustable Rate Mortgages:

  • 1/1 ARM, which offers a fixed rate for the first year, then adjusts every year thereafter.
  • 3/1 ARM, which offers a fixed rate for the first three years, then adjusts every year thereafter.
  • 5/1 ARM, which offers a fixed rate for the first five years, then adjusts every year thereafter.

Construction Mortgages

At North Brookfield Savings Bank we understand that the construction process can be stressful enough that you shouldn’t need to worry about the financing. That’s why we offer one of the best construction packages on the market.

  • Monthly payments will be interest-only during the construction period (up to 12 months)
  • Payments are based only on the amount advanced during each month
  • Once your house is complete, your loan converts automatically into a conventional mortgage
  • NO separate closing

MassHousing Mortgages

Affordable Financing Programs for Income-Eligible Buyers

As a MassHousing approved lender, NBSB offers affordable financing programs to income-eligible buyers for the purpose of purchasing or refinancing a home.

These programs feature low down payment options with or without Private Mortgage Insurance (PMI), and low interest rates. Other restrictions may apply.

Apply online or contact one of our experienced Residential Lending Officers today!


Land Loans

Have you found the perfect lot of land and just haven’t decided on the perfect house to build on it? Then consider a land loan to purchase the lot and take your time with the decision on the house.

You can borrow up to 60% of the sales price (or appraised value, whichever is less), for a term of up to ten years. When you’re ready to begin construction, we’ll roll the balance of your loan into your new construction loan.


For more information on this about this product, or any of our other mortgage products, please contact one of our qualified loan professionals at 508-867-1302 (Toll Free: 866-711-6272) or visit one of our convenient locations.

National Mortgage Licensing System and Registry
North Brookfield Savings Bank’s National Mortgage
Licensing System unique identifier is 641656.
Click to view NMLS ID #’s at
North Brookfield Savings Bank