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 Thursday, April 30, 2020

Product DescriptionAPRApply

The minimum line of credit for Home Equity Line of Credit is $10,000. An appraisal if loan request is greater than or equal to $400,000.

The Index is Prime Rate as Published in the Wall Street Journal, currently 3.250% and can change monthly after remaining fixed for one day. An increase in the interest rate will result in a higher monthly payment. The maximum APR is 18%. Homeowners insurance is required on property securing these loans. 

The Home Equity Line of Credit is subject to an early termination fee of $500.00 if prepaid in full and closed within 24 months.

The 10 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 divided by the number of months in the repayment period, plus interest. After 6 month introductory period, the APR will be Prime Rate with the minimum interest rate of 3.250%

Rates as of Thursday, April 30, 2020

Product DescriptionAPRApply

The minimum line of credit for the Home Equity Line of Credit is $10,000. An appraisal is required if loan amount is over $400,000.

The index is Prime Rate as published in the Wall Street Journal, currently 3.250% 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%. 

 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 divided by the number of months in the repayment period, plus interest. After the 6 month introductory period, the interest rate will be Prime Rate with a minimum interest rate of 3.750% for lines >80% - 85% CLTV.

For Equity Lines >80% - 85% CLTV loan, the maximum loan amount is $50,000.  Borrower-paid appraisal required.


Rates as of Thursday, April 30, 2020

Product DescriptionInterest RateAPRPayment per $1,000Apply

The minimum Home Equity Loan amount is $5,000. An appraisal is required if loan amount is over $400,000.

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 Equity Loans >80% - 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 Thursday, April 30, 2020

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*3.490%3.592%$18.19Show Payments
New 48 Months*3.490%3.616%$22.35Show Payments
New 36 Months*3.490%3.656%$29.30Show Payments
Used 60 Months- Model Years 2017-2020* 3.490%3.592%$18.19Show Payments
Used 48 Months- Model Year up to 2016*3.490%3.616%$22.35Show Payments
Used 36 Months- Model Year up to 2015* 3.490%3.656%$29.30Show Payments

New car loans are only available on model year 2018 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 2013-2017.

·          Model year 2013 has a maximum term of 36 months

·          Model year 2014 has a maximum term of 48 months

·          Model years 2015-2018 have a maximum term of 60 months


Rates as of Thursday, April 30, 2020

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.)