Mortgage Center
Residential Mortgage Loans
Buying a home is one of the most important financial decisions you'll ever make. Our experienced loan officers will take time to explain the mortgage process from beginning to end helping to reduce the natural anxiety that comes with purchasing a home.
The interest rate and points listed for all programs are available for borrowers with an excellent credit history. The actual interest rate and points available to you will be based on your credit score, loan to value, property type, cash out transaction, loan limits and any subordinate financing.
Conventional Mortgages
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Effective Date: 9/9/2010
Fixed Rate Mortgages |
| Program | Maximum Term | Interest Rate | Points | Annual Percentage Rate | Monthly P&I* PER $1,000 |
| 30 Years | 30 Years | 4.375% | 0 | 4.405% | $4.99 |
| 20 Years | 20 Years | 4.250% | 0 | 4.292% | $6.19 |
| 15 Years | 15 Years | 3.875% | 0 | 3.928% | $7.33 |
| 10 Years | 10 Years | 3.750% | 0 | 3.826% | $10.01 |
Owner-Occupied Mortgage Loans
Down Payment: 20%
Fixed Rate Loan Limits: $417,000
Above rates and information are for single family owner occupied residence only.
Effective Date: 9/9/2010
Adjustable Rate Mortgages |
| Program | Maximum Term | Interest Rate | Points | Annual Percentage Rate | Monthly P&I* PER $1,000 |
| 5/3 Program | 40 Years | 4.500% | 1 | 3.952% | $4.50 |
| 5/3 Program | 30 Years | 4.250% | 1 | 3.932% | $4.92 |
| 3 Year ARM | 30 Years | 3.750% | 1 | 3.735% | $4.63 |
| 7/3 Year ARM | 30 Years | 4.875% | 1 | 4.311% | $5.29 |
Owner-Occupied Mortgage Loans
Down Payment: 20%
Maximum Loan: $417,000
* (P&I) Principal and Interest
-Convertible rate option may be available for qualified applicants.
-High LTV financing available for many owner/occupied programs w/PMI. Ask Loan Officer for details and APR.
-No point option available for Owner Occupied Products Fixed Rate and Adjustable Rate Mortgages. Ask Loan Officer for APR.
-Above rates and information are for single family owner occupied residence only.
Adjustable Rate Mortgage Caps & Indexes
| For 7/3 Year ARM - owner occupied |
3 Year Treasury
Index 0.76 |
Margin 2.875% |
Caps 2%-6% |
For 3 Year &
5/3 Year ARM - owner occupied |
3 Year Treasury
Index 0.76 |
Margin 2.875% |
Caps 2%-6% |
| For 3 Year & 5/3 Year ARM - non-owner occupied |
3 Year Treasury
Index 0.76 |
Margin 3.000% |
Caps 3%-6% |
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Investment Property
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Non-owner Occupied (1-4 Family)
- ARMs and Fixed Bi-weekly programs available
- Various point options to choose from
- Financing up to 75% of purchase price
Single unit $417,000
2 - 4 units $533,850
Effective Date: 9/9/2010
Non-Owner Occupied Mortgage Loans |
| Program | Maximum Term | Interest Rate | Points | Annual | Monthly P&I* PER $1,000 |
| 3 Year ARM | 25 Years | 4.625% | 1 | 4.076% | $5.63 |
| 5/3 Year ARM | 25 Years | 5.125% | 1 | 4.418% | $5.92 |
Above rates and information are for single family non-owner occupied mortgage loans only.
Down Payment: 30%
Maximum Loan: $417,000
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Home Equity
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- Available to 1-3 family owner occupied properties in Massachusetts and New Hampshire.
- Loan amount may vary, depending on Fico scores, LTV, CLTV and income.
- Loan limits; $10,000 to $500,000.
- The interest you pay on this loan may be tax deductible. Consult your tax advisor.
Effective Date: 9/8/2010
Home Equity Line of Credit |
| Product | Annual Percentage Rate | Minimum Payment Options | Loan to Value | Term |
| Monthly Variable | Prime Rate as published in the Wall Street Journal on the last business day of the month.* | 1% of outstanding balance (P&I) not less than $100 per month.** | 80% w/EBSB 1st Mortgage and 70% w/all other banks*** | 15 Yr Total Term. 10 Year Draw. Remaining 5 Years, Fixed P&I repayment of outstanding balance.**** |
*The minimum floor rate will be 4.00% and the maximum rate will be capped at 18%. (As of 8/31/10 the rate is 4.00%)
**An Interest Only option is also available with this product.
***If the first is with EBSB or a sold MW loan, max CLTV 80% with Fico of 700. If the first is elsewhere (not a mortgage customer with the bank) the max CLTV is 70% with minimum Fico score of 700.
Consult your tax advisor regarding deductibility of interest.
Minimum credit score 680.
Property insurance is required. Flood Insurance may be required.
Rate and terms may change at any time.
Not available for homes currently for sale.
Second Lien position only.
Available to 1-3 family owner occupied properties in Massachusetts and New Hampshire.
Loan amount may vary, depending on Fico scores, LTV, CLTV and income.
Loan limits; $10,000 to $500,000.
The interest you pay on this loan may be tax deductibe. Consult your tax advisor
****Principal and interest (P&I)
$50 annual fee (Waived with a Platinum Checking account.)
$500 early termination fee for lines closed within the first 24 months
$9.50 individual credit report fees
$15.50 joint credit report fees
Closing costs may apply see a residential loan officer.
Additional fee may apply if the loan will be first mortgage.
If property is held in a Trust or there are outstanding discharges, borrower will pay additional recording fees. Back to Top
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