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Mortgage RatesRates are subject to change without notice. Subject to individuals residing or working in Hampden or Hampshire Counties of MA; Greater Granby CT Area, Northern Hartford or Northern Tolland Counties of CT. Except for investment real estate, rates are shown for owner-occupied properties. The monthly payment does not include taxes and insurance. Your actual payment may be greater. All Loans with an Asterisk (*) reflect a 0.250% interest rate discount as long as you maintain an automatic payment withdrawal from a new or existing Westfield Bank checking account. The account must be opened prior to the settlement of your loan. A Relationship Banking Notice will be given at the start of your application. Questions about loan rates? Contact a Home Loan Specialist at (413) 568-1911, (800) 995-5734, or visit one of our convenient offices.
A first time homebuyer is an individual who has no ownership in a principal residence during the 3-year period preceding the date of the purchase of the property.
Adjustable Rate Mortgage interest rates are based on a margin plus an index rounded to the nearest 1/8th of 1 percent. The margin is currently 3.50 percent. The index is the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year or 3 years of the loan as published in the Federal Reserve’s statistical release H15. For example the 5/1 Adjustable Rate Mortgage has a fixed period of five years and every year thereafter the index would adjust to the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year. The Annual Percentage Rate (APR) on all Adjustable Rate Mortgages (ARM) may increase after closing. The interest rate may increase during the life of the loan which may result in a higher monthly payment.
Investment Loans are for non-owner occupied residential real estate. Adjustable Investment Rate Mortgage interest rates are based on a margin plus an index rounded to the nearest 1/4th of 1 percent. The margin is currently 4.50 percent. The index is the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year, 3 year, or 5 years of the loan as published in the Federal Reserve’s statistical release H15. For example the 5/1 Adjustable Rate Mortgage has a fixed period of five years and every year thereafter the index would adjust to the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year. General Disclosures The monthly payment per $1,000 borrowed does not include taxes and insurance . If applicable, taxes and insurance would increase your payment. Unless otherwise noted , Annual Percentage Rates (APR) and payments assume a $100,000 mortgage, 20% down payment and 30 year term.The Annual Percentage Rate (APR) on all Adjustable Rate Mortgages (ARM) may increase after closing. The interest rate may increase during the life of the loan which may result in a higher monthly payment. The initial interest rate on all ARMS is a discounted rate and does not equal the rounded margin plus the index. Loans with loan-to-value ratios greater than 80% require private mortgage insurance. The program description is not an offer to extend credit. The extension of credit is dependent upon your credit history, loan-to-value ratio, and other factors. |
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