FeaturedLoan Products | | No Money Down Mortgage | Home Equity Lines of Credit
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FeaturedLoan Products
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| MORTGAGE | RATE | ANNUAL PERCENTAGE RATE (APR) | MONTHLY PAYMENTS PER $1,000 BORROWED | PRODUCT DETAILS |
|---|---|---|---|---|
| 5/5 Adjustable Rate (40 Year Term) | 6.750% | 6.971% | $6.03 | Product Details |
| 30 Year Fixed Rate | 6.750% | 6.853% | $6.49 | Product Details |
| 20 Year Fixed Rate | 6.625% | 6.759% | $7.53 | Product Details |
| 15 Year Fixed Rate | 6.500% | 6.667% | $8.71 | Product Details |
| 30 Year Fixed Rate First Time Homebuyer | 6.625% | 6.727% | $6.40 | Product Details |
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Jumbo & Adjustable Rate Mortgage Loan Products
| MORTGAGE | RATE | ANNUAL PERCENTAGE RATE (APR) | MONTHLY PAYMENTS PER $1,000 BORROWED | PRODUCT DETAILS |
|---|---|---|---|---|
| 30 Year Fixed Rate | 6.875% | 6.974% | $6.57 | Product Details |
| 20 Year Fixed Rate | 6.750% | 6.879% | $7.60 | Product Details |
| 15 Year Fixed Rate | 6.625% | 6.785% | $8.78 | Product Details |
| 10 Year Fixed Rate | 6.625% | 6.850% | $11.42 | Product Details |
| 7/1 Adjustable Rate (30 Year Term) | 6.875% | 7.419% | $8.12 | Product Details |
| 5/5 Adjustable Rate (40 Year Term) | 6.750% | 6.971% | $6.03 | Product Details |
| 5/1 Adjustable Rate (30 Year Term) | 6.750% | 7.480% | $6.49 | Product Details |
| 3/1 Adjustable Rate (30 Year Term) | 6.750% | 7.641% | $6.49 | Product Details |
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No Money Down Mortgage
| Mortgage | RATE | ANNUAL PERCENTAGE RATE (APR) | MONTHLY PAYMENTS PER $1,000 BORROWED | PRODUCT DETAILS |
|---|---|---|---|---|
| NB WealthBuilder Mortgage (5/5 Adjustable Rate 20 Year Term - Conforming) | 7.125% | 7.159% | $7.83 | Product Details |
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Home Equity Lines of Credit
| Mortgage | RATE | ANNUAL PERCENTAGE RATE (APR) | MONTHLY PAYMENTS PER $1,000 BORROWED | PRODUCT DETAILS |
|---|---|---|---|---|
| Home Equity Line of Credit (HELOC) | 8.000% | 8.000% | N/A | Product Details |
| Alternative Income | 10.500% | 10.500% | N/A | Product Details |
| Non Owner-Occupied (Investment Property) | 10.500% | 10.500% | N/A | Product Details |
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5/5 ARM 40 Year Term An adjustable rate mortgage has a monthly payment that may change over the term of the loan. With our 5/5 ARM, your payment won't change for the first five years but is subject to a rate adjustment every subsequent 5 years based on market conditions. The 40-year term offers a lower payment and presents a more affordable alternative to the 30-year fixed rate.
Important Loan Information (Updated July 1st, 2024) The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $766,550 and an estimated property value of $958,200. The property is located in the Commonwealth of MA. The property is an existing single family home and will be used as a primary residence. The assumed credit score is 740. At a 6.750% initial interest rate, the APR for this loan type is 6.971%, subject to increase. The estimated payment schedule would be: *This is an estimated fully indexed rate this loan could adjust to after the initial 60 month period. The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
The period of time for the loan to be repaid. During this term, the payment covers only the cost of your interest. After this period, the payment will increase. The initial rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. The maximum amount the rate may increase or decrease after the Initial Fixed Period. The maximum amount the rate may increase or decrease after each Subsequent Adjustment Period. The maximum interest rate you may be required to pay. A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities, and the Cost of Funds Index (COFI). The current value of the Index as of the date below - this value is subject to change without notice. The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors).
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30-Year Fixed Rate A fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular loan options today. Important Loan Information (Updated July 1st, 2024) The payment information below provided assumes the purpose of the loan is to purchase a property, with a loan amount of $766,500 and an estimated property value of $958,200. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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20-Year Fixed Rate A fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular loan options today. By choosing a 20-year fixed rate loan, you will have the monthly payment that is greater than the 30-year fixed rate, but you will be building equity in your home faster. The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $766,550 and an estimated property value of $958,200. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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15-Year Fixed Rate A fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular loan options today. Choose a 15-year fixed rate loan if you're comfortable with a higher payment and you will have the benefit of substantial interest savings. The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $766,650 and an estimated property value of $958,200. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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30-Year Fixed First Time Home Buyer A fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular loan options today. Please contact our loan officer today to discuss what specific cities and towns we include in this program. The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $766,550 and an estimated property value of $958,200. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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Jumbo 30-Year Fixed Rate A fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular loan options today. The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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Jumbo 20-Year Fixed Rate A fixed rate mortgage provides you with the security of a monthly payment that doesn’t change. Fixed rate loans are one of the most popular loan options today. By choosing a 20-year fixed rate loan, you will have the monthly payment that is greater than the 30-year fixed rate, but you will be building equity in your home faster. The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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Jumbo 15-Year Fixed Rate A fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular loan options today. Choose a 15-year fixed rate loan if you're comfortable with a higher payment and you will have the benefit of substantial interest savings. The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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Jumbo 10-Year Fixed Rate A fixed rate mortgage provides you with the security of a monthly payment that doesn't change. Fixed rate loans are one of the most popular loan options today. Choose a 10-year fixed rate loan if you're comfortable with a higher payment and you will have the benefit of substantial interest savings. The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740.
The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
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7/1 Adjustable Rate (30 Year Term) An adjustable rate mortgage has a monthly payment that may change over the term of the loan. With our 7/1 Adjustable Rate Mortgage, your payment won't change for the first seven years of the loan and then can change each year based on market conditions, subject to the specific terms of the loan.
Important Loan Information (Updated July 1st, 2024) The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740. At a 6.875% initial interest rate, the APR (Annual Percentage Rate) for this loan type is 7.419%, subject to increase. The estimated payment schedule would be: *This is an estimated fully indexed rate this loan could adjust to after the initial 84 month period. The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
The period of time for the loan to be repaid. During this term, the payment covers only the cost of your interest. After this period, the payment will increase. The initial rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. The maximum amount the rate may increase or decrease after the Initial Fixed Period. The maximum amount the rate may increase or decrease after each Subsequent Adjustment Period. The maximum interest rate you may be required to pay. A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities, and the Cost of Funds Index (COFI). The current value of the Index as of the date below - this value is subject to change without notice. The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors).
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5/5 ARM 40 Year Term An adjustable rate mortgage has a monthly payment that may change over the term of the loan. With our 5/5 ARM, your payment won't change for the first five years but is subject to a rate adjustment every subsequent 5 years based on market conditions. The 40-year term offers a lower payment and presents a more affordable alternative to the 30-year fixed rate.
Important Loan Information (Updated July 1st, 2024) The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740. At a 6.750% initial interest rate, the APR (Annual Percentage Rate) for this loan type is 6.971%, subject to increase. The estimated payment schedule would be: *This is an estimated fully indexed rate this loan could adjust to after the initial 60 month period. The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
The period of time for the loan to be repaid. During this term, the payment covers only the cost of your interest. After this period, the payment will increase. The initial rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. The maximum amount the rate may increase or decrease after the Initial Fixed Period. The maximum amount the rate may increase or decrease after each Subsequent Adjustment Period. The maximum interest rate you may be required to pay. A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities, and the Cost of Funds Index (COFI). The current value of the Index as of the date below - this value is subject to change without notice. The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors).
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5/1 Adjustable Rate (30 Year Term) An adjustable rate mortgage has a monthly payment that may change over the term of the loan. With our 5/1 Adjustable Rate Mortgage, your payment won't change for the first five years of the loan and then can change each year based on market conditions, subject to the specific terms of the loan.
Important Loan Information (Updated July 1st, 2024) The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740. At a 6.750% initial interest rate, the APR (Annual Percentage Rate) for this loan type is 7.480%, subject to increase. The estimated payment schedule would be: *This is an estimated fully indexed rate this loan could adjust to after the initial 60 month period. The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
The period of time for the loan to be repaid. During this term, the payment covers only the cost of your interest. After this period, the payment will increase. The initial rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. The maximum amount the rate may increase or decrease after the Initial Fixed Period. The maximum amount the rate may increase or decrease after each Subsequent Adjustment Period. The maximum interest rate you may be required to pay. A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities, and the Cost of Funds Index (COFI). The current value of the Index as of the date below - this value is subject to change without notice. The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors).
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3/1 Adjustable Rate (30 Year Term) An adjustable rate mortgage has a monthly payment that may change over the term of the loan. With our 3/1 Adjustable Rate Mortgage, your payment won't change for the first three years of the loan and then can change each year based on market conditions, subject to the specific terms of the loan.
Important Loan Information (Updated July 1st, 2024) The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $800,000 and an estimated property value of $1,000,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740. At a 6.750% initial interest rate, the APR (Annual Percentage Rate) for this loan type is 7.641%, subject to increase. The estimated payment schedule would be: *This is an estimated fully indexed rate this loan could adjust to after the 36 month period. The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
The period of time for the loan to be repaid. During this term, the payment covers only the cost of your interest. After this period, the payment will increase. The initial rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. The maximum amount the rate may increase or decrease after the Initial Fixed Period. The maximum amount the rate may increase or decrease after each Subsequent Adjustment Period. The maximum interest rate you may be required to pay. A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities, and the Cost of Funds Index (COFI). The current value of the Index as of the date below - this value is subject to change without notice. The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors).
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NB WealthBuilder Mortgage An adjustable rate mortgage has a monthly payment that may change over the term of the loan. With our 5/5 ARM, your payment won't change for the first five years but is subject to a rate adjustment every subsequent 5 years based on market conditions. This product will allow a borrower to build equity fast with no money down and a short 20-year term.
Important Loan Information (Updated July 1st, 2024) The payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $650,000 and an estimated property value of $650,000. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740. At a 7.125% initial interest rate, the APR (Annual Percentage Rate) for this loan type is 7.159%, subject to increase. The estimated payment schedule would be: *This is an estimated fully indexed rate this loan could adjust to after the initial 60 month period. The loan sample above is for example purposes only. The payment does not include taxes or insurance, and may not reflect the current interest rate or APR. Your actual payment obligation will be greater.
The period of time for the loan to be repaid. During this term, the payment covers only the cost of your interest. After this period, the payment will increase. The initial rate will be fixed for this period. After this period, the interest rate will be adjusted at the frequency noted below (Subsequent Adjustment Period). After the initial fixed period, the interest rate will be adjusted each time this number of months has passed. The maximum amount the rate may increase or decrease after the Initial Fixed Period. The maximum amount the rate may increase or decrease after each Subsequent Adjustment Period. The maximum interest rate you may be required to pay. A published interest rate used to establish the interest rate offered on an Adjustable Rate Mortgage (ARM). Some of the most common indices are Treasury Bills, Treasury Securities, and the Cost of Funds Index (COFI). The current value of the Index as of the date below - this value is subject to change without notice. The amount that is added to the Index to determine the rate at each adjustment (subject to any adjustment caps or floors).
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Home Equity Line of Credit (HELOC) Our home equity line of credit puts extra cash as close as your checkbook. Apply now and access cash at any time by transferring funds up to your remaining limit to your FREE Needham Bank checking account. Important Loan Information The information provided is based on a $100,000 loan. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as a primary residence. The assumed credit score is 740. This assumes that the total of all existing mortgages does not exceed 80% of the property value. Interest Rate/APR (Annual Percentage Rate): To determine the interest rate/APR we subtract a Margin of (0.500%) from the value of the Index, resulting in a current interest rate/APR as of March 1st, 2024 of 8.00%. The interest rate/APR will never be lower than 3.000% or greater than 18.000%. Payment: During the Draw period, interest only payments are due monthly, based on the outstanding principal balance. During the Repayment period, amortized principal and interest payments are due monthly based on outstanding principal balance at the end of the Draw period. Term: 20 years consisting of a 10-year Draw period followed by a 10-year amortized Repayment period. If you make the required minimum monthly payments, on or before the due date, the loan will be paid in full at the end of the Repayment period. Balance Due at End of Loan Term: $0 Maximum Loan: The lesser of $1,000,000 or the combined loan-to-value of 80%. Subject to Credit Approval and additional Terms and Conditions may apply. NOTE: An Alternative Income Verification Home Equity Line of Credit is available with different interest rates/APRs and terms. Please contact us for additional details.
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Home Equity Line of Credit (HELOC) Our home equity line of credit on your investment property puts extra cash as close as your checkbook. Apply now and access cash at any time by transferring funds up to your remaining limit to your FREE Needham Bank checking account. Important Loan Information The information provided is based on a $100,000 loan. The property is located in the Commonwealth of MA. The property is an existing single-family home and will be used as an investment property. The assumed credit score is 740. This assumes that the total of all existing mortgages does not exceed 70% of the property value. Interest Rate/APR (Annual Percentage Rate): To determine the interest rate/APR we add a Margin of 2.00% to the value of the Index, resulting in a current interest rate/APR as of March 1st, 2024 of 10.50%. The interest rate/APR will never be lower than 5.000% or greater than 18.000%. Payment: During the Draw period, interest only payments are due monthly, based on the outstanding principal balance. During the Repayment period, amortized principal and interest payments are due monthly based on outstanding principal balance at the end of the Draw period. Term: 20 years consisting of a 10-year Draw period followed by a 10-year amortized Repayment period. If you make the required minimum monthly payments, on or before the due date, the loan will be paid in full at the end of the Repayment period. Balance Due at End of Loan Term: $0 Maximum Loan: The lesser of $1,000,000 or the combined loan-to-value of 70%. Subject to Credit Approval and additional Terms and Conditions may apply. NOTE: An Alternative Income Verification Home Equity Line of Credit is available with different interest rates/APRs and terms. Please contact us for additional details.
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