Loan Rates

Rates 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.

For mortgages, home equity loans, and home equity lines, rates are shown for owner-occupied properties. The monthly payment does not include taxes and insurance. Your actual payment may be greater.

Call for rates for 1-4 family investment properties.

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.

Rates as of Wednesday, August 16, 2017

Product DescriptionPointsInterest RateAPRPayment per $1,000PaymentsApply
10-30 Year Fixed Rate Mortgages - Please ask us about other point options available.
30 Year Conventional Fixed Rate0.0003.875%3.965%$4.70Show Payments
20 Year Conventional Fixed Rate0.0003.750%3.874%$5.93Show Payments
15 Year Conventional Fixed Rate 0.0003.125%3.282%$6.97Show Payments
10 Year Conventional Fixed Rate0.0003.000%3.220%$9.66Show Payments

Rates as of Wednesday, August 16, 2017

Product DescriptionPointsInterest RateAPRFully Indexed RatePayment per $1,000PaymentsApply
WB First Time Homebuyers 10/1 Year ARM Discounted* - Term 30 Years.
Margin 3.500%, Index 1.220%, Caps 2% per adjustment, 6% Lifetime.
Initial Discounted Rate is 1.500% for the first year.
WB First Time Homebuyers Discounted Arm (10/1)* 30 Year Term. 0.0003.250%3.913%4.750%$4.35Show Payments
WB Fixed First Time Homebuyers - Term 30 Years
WB First Time Homebuyers 30 Year Fixed0.0003.750%3.839%N/A$4.63Show Payments
WB First Time Homebuyers 10/1 Year ARM - Term 30 Years.
Margin 3.500%, Index 1.220%, Caps 2% per adjustment, 6% Lifetime.
Initial Discounted Rate is 1.250% for the first year.
WB First Time Homebuyers Arm (10/1) 30 Year Term 0.0003.500%4.065%4.750%$4.49Show Payments

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.


Rates as of Wednesday, August 16, 2017

Product DescriptionPointsInterest RateAPRFully Indexed RatePayment per $1,000PaymentsApply
1 YEAR FIXED/1 YEAR ARM - 30 Year
Margin 3.500%, Index 1.220%, Caps 2% per adjustment, 6% lifetime.
Initial Discounted Rate is 2.250% for the first year.
1/1 Adjustable Rate 30 Year Term*0.0002.500%4.645%4.750%$3.95Show Payments
3 YEAR FIXED/3 YEAR ARM - 30 Year
Margin 3.500%, Index 1.540%, Caps 2% per adjustment, 6% lifetime
Initial Discounted Rate is 2.250% for the first 3 years.
3/3 Adjustable Rate 30 Year Term*0.0002.750%4.552%5.000%$4.08Show Payments
5 YEAR FIXED/1 YEAR ARM - 30 Year
Margin 3.500%, Index 1.220%, Caps 2% per adjustment, 6% lifetime.
Initial Discounted rate is 1.875% for the first 5 years.
5/1 Adjustable Rate 30 Year Term*0.0002.875%4.162%4.750%$4.15Show Payments
7 YEAR FIXED/1 YEAR ARM - 30 Year
Margin 3.500%, Index 1.220%, Caps 2% per adjustment, 6% lifetime
Initial Interest Discounted Rate is 1.625% for the first 7 years.
7/1 Adjustable Rate 30 Year Term*0.0003.125%4.069%4.750%$4.28Show Payments
10 YEAR FIXED/1 YEAR ARM - 30 Year
Margin 3.500%, Index 1.220%, Caps 2% per adjustment, 6% lifetime
Initial Interest Discounted Rate is 1.375% for the first 10 years.
10/1 Adjustable Rate 30 Year Term*0.0003.375%3.989%4.750%$4.42Show Payments

Rates as of Wednesday, August 16, 2017

Product DescriptionPointsInterest RateAPRFully Indexed RatePayment per $1,000PaymentsApply
30 YEAR FIXED Permanent Construction
30 YEAR FIXED Const.Perm 0.0004.250%4.404%N/A$3.54Show Payments
7 YEAR FIXED / 3 YEAR ARM Permanent Construction - 30 Year
Margin 3.500%, Index 1.540%, Caps 2% per adjustment, 6% lifetime.
Initial Discounted Rate is 1.375 for the first 3 years.
7/3 ARM Const. Perm - 30 Years0.0003.625%4.569%5.000%$3.02Show Payments
10 YEAR FIXED/1 YEAR ARM Permanent Construction - 30 Year
Margin 3.500%, Index 1.220%, Caps 2% per adjustment, 6% lifetime.
Initial Discounted Rate is 0.875 for the first years.
10/1 ARM Const. Perm - 30 Year0.0003.875%4.356%4.750%$3.23Show Payments

Rates as of Wednesday, August 16, 2017

Product DescriptionPointsInterest RateAPRApply
Land Loans
Land Loans - 3 Year Fixed Rate Interest Only - Max 70% LTV0.5005.250%5.250%

Rates as of Wednesday, August 16, 2017

Product DescriptionPointsInterest RatePayment per $1,000Apply
Investment Real Estate.
Non-Owner Occupied 1-4 Family. 20% Minimum down payment.
3 Year Fixed/ 3 Year ARM-20 Year Term*0.5004.125%$6.13
5 Year Fixed/ 5 Year ARM-20 Year Term*0.5004.250%$6.19
7 Year Fixed/ 1 Year ARM- 20 Year Term*0.5004.750%$6.46

Investment Loans are for non-owner occupied residential real estate.Unless otherwise noted.


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.

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 yr, 3 yr, 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.

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.


Rates as of Wednesday, August 16, 2017

Product DescriptionInterest RateApply
Home Equity Line of Credit 15 year draw period, 15 year repayment period, With an Introductory Fixed Rate for the first six months.
Introductory Fixed Rate for the first 6 Months. Variable rate thereafter (current APR 4.25%)up to 80% CLTV
Home Equity Line of Credit up to 80% LTV 1.990%
Introductory Fixed Rate for the first 6 Months. Variable rate thereafter (current APR 4.75%) 81% to 85% CLTV, Margin 0.500%
Home Equity Line of Credit 81 to 85% LTV 1.990%

The minimum line of credit for the Home Equity Line of Credit is $10,000. An appraisal is required if loan amount is over $250,000.

The index is Prime Rate as published in the Wall Street Journal, currently 4.25% and can change monthly after remaining fixed for 1 day. An increase in the interest rate will result in a higher monthly payment. The maximum APR is 18%. After the 6 month introductory period, the APR will be Prime Rate with a minimum APR of 4.25% for lines up to 80% CLTV and 4.75% for lines between 81%-85%. Homeowners insurance is required on the property securing these loans.

The Home Equity Line of Credit is subject to an early termination fee of $550.00 if prepaid in full and closed within 24 months.

The 15 year draw period is interest only and the remaining 15 year repayment period will be the principal balance remaining at the end of the draw period amortized over the 15 year term, plus interest.

For an 81% - 85% CLTV loan, the maximum loan amount is $50,000.  Borrower-paid appraisal required.


Rates as of Wednesday, August 16, 2017

Product DescriptionInterest RateAPRPayment per $1,000Apply
Home Equity Loans (First Lien)
APR BASED ON 80% LTV
Home Equity (First Lien) 20 Year*4.250%4.250%$6.19
Home Equity (First Lien) 15 Year*4.125%4.125%$7.46
Home Equity (First Lien) 10 Year*4.000%4.000%$10.12
Home Equity (First Lien) 5 Year*3.750%3.750%$18.30
Home Equity Loan (Second, Subordinate, Junior Liens)
APR BASED ON 80% LTV
Home Equity (Second Lien) 80% LTV 5 Year*4.000%4.000%$18.42
Home Equity (Second Lien) 80% LTV 10 Year*4.250%4.250%$10.24
Home Equity (Second Lien) 80% LTV 15 Year*4.500%4.500%$7.65
Home Equity (Second Lien) 80% LTV 20 Year*4.750%4.750%$6.46
Home Equity Loan (Second, Subordinate, Junior Liens)
APR BASED ON 81-85% LTV.
Home Equity (Second Lien) 81-85% LTV 5 Year4.250%4.250%$18.53
Home Equity (Second Lien) 81-85% LTV 10 Year4.500%4.500%$10.36
Home Equity (Second Lien) 81-85% LTV 15 Year4.875%4.875%$7.84

The minimum Home Equity Loan amount is $5,000. An appraisal is required if loan amount is over $250,000.

General Disclosures Applicable to All Home Equity Loans and Lines

Home Equity Loan and Home Equity Line of Credit products are available for one to four unit owner occupied primary residences including condominiums.

The monthly payment per $1,000 borrowed does not include taxes and insurance.  Your actual payment may be higher.

For an 81% - 85% CLTV loan, the maximum loan amount is $50,000.  Borrower-paid appraisal required.

These program descriptions are not an offer to extend credit.  The extension of credit is dependent upon your credit history, loan-to-value ratio, and other factors.


Rates as of Wednesday, August 16, 2017

Product DescriptionInterest RateAPRPayment per $1,000PaymentsApply
Recreational Vehicles - Motorcycle, RV and Boat
APRS BASED ON 80% LTV, 20% down payment required.
Motorcycle, RV & Boat Loans 12 Months* 6.750%7.220%$86.41Show Payments
Motorcycle, RV & Boat Loans 24 Months*6.750%6.997%$44.66Show Payments
Motorcycle, RV & Boat Loans 36 Months*6.750%6.919%$30.76Show Payments
Motorcycle, RV & Boat Loans 48 Months* 6.750%6.879%$23.83Show Payments
Auto Loans
APRS BASED ON 100% LTV
New 60 Months*2.990%3.091%$17.96Show Payments
New 48 Months*2.990%3.116%$22.13Show Payments
New 36 Months*2.990%3.155%$29.08Show Payments
Used 60 Months- Model Years 2014-2017* 2.990%2.990%$17.96Show Payments
Used 48 Months- Model Year up to 2013*2.990%2.990%$22.13Show Payments
Used 36 Months- Model Year up to 2012* 2.990%2.990%$29.08Show Payments

New car loans are only available on model year 2017 up to 100% of the purchase price.

Pre-owned car loan maximum financing is the lesser of 100% of the purchase price or 100% of the NADA clean retail value for model years 2012-2015.

·          Model year 2012 has a maximum term of 36 months

·          Model year 2013 has a maximum term of 48 months

·          Model years 2014-2017 have a maximum term of 60 months


Rates as of Wednesday, August 16, 2017

Product DescriptionInterest RateAPRPayment per $1,000PaymentsApply
Pool and Spa Loan APR'S BASED ON 90% LTV
Pool & Spa 60 Months5.250%5.250%$18.99Show Payments
Pool & Spa 48 Months5.250%5.250%$23.14Show Payments
Pool & Spa 36 Months5.250%5.250%$30.08Show Payments
Pool & Spa 24 Months5.250%5.250%$43.98Show Payments
Pool & Spa 12 Months5.250%5.250%$85.72Show Payments

90% of the purchase price with a maximum loan amount of $10,000. (Equity Loans or Equity Lines may be available for any loans over $10,000.)


Rates as of Wednesday, August 16, 2017

Product DescriptionAPRApply
Personal Line of Credit- Min $500 - Max $2,500
Personal Line of Credit- Min $500 - Max $2,50018.000%

No annual fee.  You only pay finance charges on the amount you borrow.