Mortgage Loans

Fixed RateBi-WeeklyFirst Time Home Buyer | Adjustable Rate | ConstructionMassHousingLand Loans

At North Brookfield Savings Bank we have a variety of mortgage loan options and experienced mortgage professionals to help get you into your dream home. Whether you’re looking to own for the first time, are searching for a larger living space, looking to improve your current home, or want to downsize into a smaller house, North Brookfield Savings Bank is the neighbor that knows this market best.

 

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

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Bi-Weekly Mortgage Payments

With bi-weekly mortgage payments* you can pay your loan off sooner, reduce your interest paid, and build equity in your home quicker.

*Bi-weekly offer only valid when payments are automatically deducted from a North Brookfield Savings Bank Checking or Savings account.

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First Time Home Buyers Program

Buying your first home is a new and exciting adventure, but we know it can also be overwhelming. Don’t worry. Our experienced team of trusted mortgage specialists will be here every step of the way helping you to explore your options, make the choices that work best for you and answer your questions – whether it is how much you can afford to borrow or understanding the mortgage loan options available to you.

Learn moreApply online

 

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:

  • 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.
  • 15/15 ARM, which offers a fixed rate for the first fifteen years, adjusting only once over the life of the loan.

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First Time Home Buyers
3/1 Adjustable Rate Mortgage (ARM)

The interest rate will adjust after a fixed period of time, for the life of the loan and is ideal for first time home buyers.

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

Apply onlineView rates

 

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

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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 onlineContact a Lender

 

MassHousing “Operation: Welcome Home” Mortgage

In an effort to serve those who protect us, North Brookfield Savings Bank has partnered with MassHousing to offer a conventional mortgage loan product called “Operation: Welcome Home” for first-time homebuyers’ that are active duty members of the US Armed Services, Veterans, Reservists, and Gold Star Family members.

Contact a Lender for details

 

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.

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