*Offer available on purchase of primary residence or owner-occupied second home. Interest rates and annual percentage rates (APRs) effective 7/20/2015 but are subject to change without notice and may also change based on factors such as credit, loan-to-value ratios, property type, loan amount, and occupancy. APRs are based on 20% down payment and $100,000 financed, 1-4 family owner-occupied homes. Private Mortgage Insurance is required on loan-to-value ratios in excess of 80%. Homeowners insurance and flood insurance (if applicable) are required. Other conditions may also apply. All loan applications are subject to credit underwriting and property approval. 30 year term with discounted initial fixed interest rate of 3.875% for the first 15 years is repayable in 180 monthly payments of $4.70 per $1,000 borrowed, followed by estimated premium interest rate of 5.500%, repayable in 180 monthly payments of $5.20 per $1,000 borrowed. After 180 months, rate adjusts to the current index (weekly average on US Treasury securities adjusted to a constant maturity of 10 years) plus a margin of two and three quarters percentage (2.75%) point, rounded to the nearest one-eighth (0.125%). The new rate cannot exceed six percent (6.00%) above the initial rate or cannot be lower than the floor rate of three and seven eighths percent (3.875%). Rate may be increased after consummation. Payment amounts do not include taxes or insurance premiums. Actual payment obligations may be greater. Offer may be withdrawn at any time. Offer not available on investment properties. North Brookfield Savings Bank’s NMLS unique identifier is 641656.
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.
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
We are able to offer a number of options through our affiliation with other organizations including but not limited to MassHousing and USDA. They are available to eligible first-time homebuyers and current homeowners for the purchase or refinance of a home with little money down (some restrictions may apply). To see if you qualify for any of our partnership products, contact one of our qualified lending professionals.
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