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Lending Solutions

BankGloucester has the right home lending solution for you — from first time home buyer loans and VA mortgages to home equity loans and refi’s. We treat every loan application with the importance it deserves. Regardless of amount or term, when you need a quick answer, our loan specialists will always accommodate you. The BankGloucester lenders have spent years building relationships and take pride in assisting you at the time of application, as well as anytime after. Call a loan representative today to check rates and terms.


Fixed Rate Mortgages
With more than 100 years of mortgage lending experience, BankGloucester has a proven record of commitment to home ownership.
New Home or Refinance

Whether you are buying a new home or refinancing an existing one, BankGloucester offers a wide range of fixed rate loan products. A big advantage of fixed rate mortgages is that the rate is guaranteed for the life of the loan and, therefore, you can feel more secure knowing that your mortgage payment will remain the same. Choose from 10, 15 and 30 year terms.

Adjustable Rate Mortgages
Obtain a lower interest rate and save money on your monthly mortgage payments.

With an adjustable rate mortgage from BankGloucester, you can take advantage of a lower initial rate than you’d get with a Fixed Rate Mortgage. Three, five, seven and ten year programs are offered with features including periodic and lifetime rate caps.

First Time Home Buyer
Let BankGloucester help you realize your goal of owning your own home.

If you have always dreamed of owning your own home, we would like to help you realize that dream.
BankGloucester offers special programs for first time home buyers that may offer:

  • Lower down payment options
  • Higher qualifying ratios
  • More flexible underwriting standards

BankGloucester wants to make your dreams a reality.
The friendly mortgage specialists at BankGloucester will help you every step of the way.

VA Mortgages
Proud to Serve Our Community and the Men and Women of Our Armed Forces
  • Purchase transactions to 100% Financing & no MI
  • Interest rate reduction refi loans with no appraisal
  • Cash out refinances to 100% of value
  • High balance loan amounts up to 1 million
  • No funding fee for disabled veterans
  • Credit score requirements as low as 620
Home Equity Loans
If your home equity needs are more of a one-time thing, then you may prefer the BankGloucester Home Equity Loan.

If your home equity needs are more of a one-time thing, then you may prefer the BankGloucester Home Equity Loan. With a fixed rate and payback schedule, you can still take advantage of the possible tax benefits (the interest you pay may even be tax deductible).

Home Equity Line of Credit
Whether you need the funds today or are planning for the future, a Home Equity Line of Credit can make the process so much easier.

BankGloucester’s Home Equity Line of Credit was developed to offer financial flexibility. Whether you need the funds today or are planning for the future, a Home Equity Line of Credit can make the process so much easier. The funds are available when you want, simply by writing a check. Giving you the flexibility to prioritize your financial needs – to consolidate high interest debts, pay for a wedding, enjoy that long awaited vacation, buy a car, or pay for tuition. The choice is yours.

Auto Loans
Whether you're purchasing a new or used car, BankGloucester offers very competitive rates and convenient terms.

We want to help get you into the driver’s seat!

Whether you’re purchasing a new or used car, BankGloucester offers very competitive rates and convenient terms. We offer fixed rate loans up to $40,000 for new or used autos with up to 95% financing.

Personal Loans
Want to consolidate your debts, cover education expenses or purchase a large household item?

Want to consolidate your debts, cover education expenses or purchase a large household item? Let us make it happen for you. This loan is granted for personal, family or household use.

Collateral Loans
Collateral Loans, Passbook Loans

A collateral loan is secured by a savings or CD passbook account up to the amount being advanced to the borrower.

Interest rate may change during the life of the loan.


Mortgage Rates

*APR Annual Percentage Rate, LTV Loan to Value
Rates Effective: December 7, 2021
All rates are subject to change without notice.
Fixed Rate Mortgages
In House Loan Types
TermInterest RatePointsAPR*Payment per $1,000
10-YR. Fixed10-yr.3.25%03.335%120 @ $9.77
15-YR. Fixed15-yr.3.75%03.812%180 @ $7.27
30-YR. Fixed30-yr.4.00%04.036%360 @ $4.77
The payment does not include insurance and taxes and the payment may be greater. Rates subject to change without notice. Add 1.000% to rate for investment properties.
Fixed Rate Mortgages
Sold to Secondary Markets
TermInterest RatePointsAPR*Payment per $1,000
15-YR. Fixed1802.875%03.038%180 @ $6.85
30-YR. Fixed3603.375%03.48%360 @ $4.42
The payment does not include insurance and taxes and the payment may be greater. Rates subject to change without notice. Loan limits - conventional owner occupied - Single Family $548,250 / Two Family $702,000/ Three Family $848,500/ Four Family $1,054,500.
Adjustable Rate ProductsTermInterest RatePointsAPR*Payment per $1,000Payment Per $1000 after 1st Adjustment
3/1-YR. ARM30-yr.2.75%03.06%36 @ $4.08324 @ $4.63
5/1-YR. ARM30-yr.3.00%03.034%60 @ $4.22300 @ $4.77
7/1-YR. ARM30-yr.3.125%03.173%84 @ $4.28276 @ $4.85
10/1-YR. ARM30-yr.3.375%03.453%120 @ $4.42240 @ $4.99
The payment does not include insurance and taxes and the payment may be greater.

The current, fully-indexed rate is 3.25%

FLOOR RATE OF 3.75% on the 3/1 ARM and 4.00% on the 5/1, 7/1, and 10/1 ARM loan types. These are premium rates. Not to exceed 80% LTV or PMI. Add 1.000% to rate for investment properties.

Adjustable rate mortgages are available for 1 to 4 family owner-occupied residences. Indexed to the weekly average yield on United States Treasury Securities adjusted to a constant maturity of one year as made available by the Federal Reserve Board in the Selected Interest Rate Publication H15 and as published in the Wall Street Journal. All adjustable rates are subject to increase after - consummation. The margin is 3% over the index.
First Time Home Buyer RatesTermInterest RatePointsAPR*Payment per $1,000Payment Per $1000 after 1st Adjustment
3/1-YR. ARM30-yr.2.75%03.06%36 @ $4.08324 @ $4.63
5/1-YR. ARM30-yr.3.00%03.034%60 @ $4.22300 @ $4.77
7/1-YR. ARM30-yr.3.125%03.173%84 @ $4.28276 @ $4.85
10/1-YR. ARM30-yr.3.375%03.453%120 @ $4.42240 @ $4.99
The payment does not include insurance and taxes and the payment may be greater.

The current, fully indexed rate is 3.25%

FLOOR RATE OF 3.75% on the 3/1 ARM and 4.00% on the 5/1, 7/1, and 10/1 ARM loan types. These are premium rates.

Available to first time home buyers for the purchase of One to Four family Owner Occupied Residences; Minimum down payment 10% No PMI - 5% with PMI; Qualifying income ratios: 45%; Maximum loan amount $500,000. All adjustable rates are subject to increase after consummation. $500 towards closing costs. The margin is 3% over the index.
Home Equity Line of CreditTermInterest RateAPR*Payment Per $1,000
Home Equity Line of Credit25-yr.4.00%4.00%$2.74 interest only
VARIABLE MONTHLY FOR LIFE OF LOAN A.P.R.(annual percentage rate) as of 1st of month 4.00% (Wall Street Prime 10/31/21 3.25% less .25% with a Floor of 4.00%) 1-4 family Owner Occupied - NO CLOSING COSTS - Maximum A.P.R. 18% - Minimum A.P. R. 4%. Not to exceed 80% LTV including 1st Mortgage - 10 Year Draw - 15 Year Payback Period. Property Insurance will be required. Minimum loan amount $25,000 - Maximum loan amount $500,000 Contact our loan department for investment property rates, terms and costs. Maximum A.P.R. 18%.
Home Equity LoansTermInterest RateAPR*Payment Per $1,000
5-YR. Fixed5-yr.4.625%4.625%60 @ $18.70
10-YR. Fixed10-yr.4.875%4.875%120 @ $10.55
15-YR. Fixed15-yr.5.125%5.125%180 @ $7.97
The payment does not include insurance and taxes and the payment may be greater.1-4 family owner-occupied properties. No closing costs except if an appraisal is required. An appraisal may be required if loan to value is greater than 50% of assessed value less first mortgage. Appraisal costs are between $450 - $800. Maximum 80% LTV Minimum loan amount is $15,000.00.

BankGloucester NMLS# 716612

Mortgage Payment Calculator 

Use this mortgage calculator to determine your monthly payment and generate an estimated amortization schedule. Quickly see how much interest you could pay and your estimated principal balances. Enter prepayment amounts to calculate their impact on your mortgage.


Meet our Loan Department Staff

Amy E. Mitchell 

Vice President Residential Lending 
amitchell@bankgloucester.com
Direct: 978-675-9925
Fax: 978-283-8943 | NMLS#1632360

Kajsa M. Fornero

Mortgage Representative 
kfornero@bankgloucester.com
Direct: 978-675-9914
Fax: 978-283-8943 | NMLS#1389305

Mackenzie P. Quinn 

Mortgage Representative
mquinn@bankgloucester.com
Direct: 978-675-9947
Fax: 978-283-8943 | NMLS#1695433

Grace J. Frost 

Senior Loan Operations Assistant
gfrost@bankgloucester.com
Direct: 978-675-9956
Fax: 978-283-8943 | NMLS#749924

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