Bristol County Savings Bank

The Bank's Affordable Housing Program (AHP) is available to low- and moderate-income individual(s) who have not owned a principal residence within the past three years and wish to purchase a one- to four-family primary residence within target areas of Massachusetts and Rhode Island.

FEATURES

A fixed rate term with no points
Lower down payment requirements
$500 credit towards closing costs
HUD approved Home Ownership Counseling Program required.

A First Time Home Buyers mortgage is offered to individuals who have not owned a primary residence within the past three years. This program is for single-family & two-family, owner-occupied properties in Massachusetts and Rhode Island with loan amounts up to Fannie Mae's conventional two-family loan limits.

FEATURES

Adjustable Rate programs with no points...
Reduces your monthly payment to make purchasing your first home more affordable.
No Private Mortgage Insurance (PMI)
With a low down payment on your home purchase, private mortgage insurance may not be required. Call for details.
Reduced Closing Costs...
We'll pay $250.00 towards your closing costs.
Available to Municipal Employees...
Regardless of previous homeownership.

This mortgage is offered to individuals constructing a property for their primary or secondary residence. A construction period of up to twelve months is allowed and funds are released based on a construction schedule. Principal and interest payments begin upon completion of the property.

FEATURES

Interest only payments on amount of money disbursed during the construction period.
One closing for the construction and permanent financing.
A percentage of Land Value is released at closing.
Financing with or without Private Mortgage Insurance is available.

A Fixed Rate Mortgage offers a set interest rate with equal monthly payments of principal and interest for the entire term of the loan. The payments amortize or pay down the mortgage over its term.

The Adjustable Rate Mortgage (ARM) is a mortgage with an interest rate that is adjusted periodically based on the specific program chosen. ARM's can be an excellent financing choice if a lower initial rate is important or if short-term ownership is planned.

You may choose to pay points which impacts the mortgage rate and annual percentage rate (APR). Each point is equal to 1% of the mortgage amount.

Adjustable Rate Mortgages, with or without points, are available for various terms. Whether you are refinancing or purchasing your primary or second home, we have a mortgage product for you.

The Fixed Rate Jumbo are for mortgages over the Fannie Mae conventional mortgage limit guidelines. Jumbo products are available either Fixed or Adjustable rates. For rates and terms on Jumbo products, call a mortgage consultant at 1-800-643-2272 (Massachusetts and Rhode Island only) for details.

If you would like more information, please contact us.