Find competitive financing options for your next home or project.
To apply for a Home Equity loan or a Home Equity Line of Credit, please contact the Residential Lending team at loans@bankgloucester.com or 978-283-8200.
| Fixed Rate Mortgages In-House Loan Types* |
Term | Initial Interest Rate | Points | APR |
Payment per $1,000
|
|---|---|---|---|---|---|
| 10-Year Fixed | 10-Year | 6.50% | 0 | 6.702% | 120 @ $11.35 |
| 15-Year Fixed | 15-Year | 7.25% | 0 | 7.381% | 180 @ $9.13 |
| 30-Year Fixed | 30-Year | 7.50% | 0 | 7.613% | 360 @ $6.99 |
* 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* |
Term | Initial Interest Rate | Points | APR |
Payment per $1,000
|
|---|---|---|---|---|---|
| 15-Year Fixed | 15-Year | 6.00% | 0 | 6.178% | 180 @ $8.44 |
| 30-Year Fixed | 30-Year | 6.50% | 0 | 6.627% | 360 @ $6.32 |
* 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 $962,550 / Two Family $1,232,700/ Three Family $1,489,500/ Four Family $1,601,750.
| Adjustable Rate Products* | Term | Initial Interest Rate Period | Initial Interest Rate | Points | APR1 | Initial Payment per $1,000 | Max Payment Per $1,000 after 1st Adjustment | Fully Indexed Rate | Full Indexed Rate # Monthly Payments | Fully Indexed Rate EMP per $1,000 |
| 3/1-YR. ARM | 30-yr. | 3-years | 5.750% | 0 | 7.24% | 36 @ $5.84 | 324 @ $6.44 | 7.375% | 324 | $7.12 |
| 5/1-YR. ARM | 30-yr. | 5-years | 6.000% | 0 | 7.09% | 60 @ $6.00 | 300 @ $6.58 | 7.375% | 300 | $7.31 |
| 7/1-YR. ARM | 30-yr. | 7-years | 6.500% | 0 | 7.39% | 84 @ $6.32 | 276 @ $6.88 | 7.375% | 276 | $7.53 |
| 10/1-YR. ARM | 30-yr. | 10-years | 6.750% | 0 | 7.33% | 120 @ $6.49 | 240 @ $7.00 | 7.375% | 240 | $7.98 |
* The payment does not include insurance and taxes and the payment may be greater.
The current, fully-indexed rate is 7.375%. The margin is 3% over the index.
FLOOR RATE OF ARM is 4.00% on the 3/1, 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.
1. 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 current, fully-indexed rate is 7.375%. The margin is 3% over the index.
FLOOR RATE OF ARM is 4.00% on the 3/1, 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.
1. 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.
| First-Time Home Buyer Adjustable Rate Products* | Term | Initial Interest Rate Period | Initial Interest Rate | Points | APR1 | Initial Payment per $1,000 | Max Payment Per $1,000 after 1st Adjustment | Fully Indexed Rate | Full Indexed Rate # Monthly Payments | Fully Indexed Rate EMP per $1,000 |
| 3/1-YR. ARM | 30-yr. | 3-years | 5.500% | 0 | 6.915% | 36 @ $5.68 | 324 @ $6.28 | 7.375% | 324 | $7.12 |
| 5/1-YR. ARM | 30-yr. | 5-years | 5.750% | 0 | 6.790% | 60 @ $5.84 | 300 @ $6.41 | 7.375% | 300 | $7.31 |
| 7/1-YR. ARM | 30-yr. | 7-years | 6.000% | 0 | 6.749% | 84 @ $6.00 | 276 @ $6.54 | 7.375% | 276 | $7.53 |
| 10/1-YR. ARM | 30-yr. | 10-years | 6.750% | 0 | 6.928% | 120 @ $6.49 | 240 @ $7.00 | 7.375% | 240 | $7.98 |
The payment does not include insurance and taxes and the payment may be greater.
The current, fully indexed rate is 7.375%. The margin is 3% over the index.
The current, fully indexed rate is 7.375%. The margin is 3% over the index.
Adjustable rate mortgages are available to first time home buyers for the purchase of 1 to 4 Family Owner Occupied Residences; Minimum down payment 10% No PMI – 5% with PMI; Qualifying income ratios: 45%; Maximum loan amount $750,000. All adjustable rates are subject to increase after consummation. $1,000 towards closing costs.
FLOOR RATE OF ARM is 4.00% on the 3/1, 5/1, 7/1, and 10/1 ARM loan types. These are premium rates.
| Home Equity Loans* | Term | Interest Rate | APR | Payment Per $1,000 | |||
| 5-YR. Fixed | 5-years | 6.875% | 7.268% | 60 @ $19.74 | |||
| 10-YR. Fixed | 10-years | 7.375% | 7.591% | 120 @ $11.81 | |||
| 15-YR. Fixed | 15-years | 7.625% | 7.779% | 180 @ $9.34 | |||
* The payment does not include insurance and taxes and the payment may be greater.1-4 Family owner-occupied properties. 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.
| Home Equity Line of Credit | Term | Interest Rate | APR* | Payment Per $1,000 | ||
| Home Equity Line of Credit | 25-years | 6.75% | 6.75% | 8.43% interest only for the 10 year draw period | ||
* VARIABLE MONTHLY FOR LIFE OF LOAN annual percentage rate (APR) as of 1st of month 6.75% (Wall Street Prime 8/31/2026 6.75% less .25% with a Floor of 4.00%). 1-4 Family Owner Occupied – NO CLOSING COSTS – Maximum APR. 18% – Minimum APR 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 APR 18%.