Home Buying

Your new home in Massachusetts or Rhode Island starts here.

At Bristol County Savings Bank, we know you have many choices when it comes to getting a mortgage. That's why we provide affordable solutions, an easy online process and experienced mortgage professionals to guide you every step of the way.

When you’re ready, we’re here to help.

Home Buying options at a glance 

Affordable Housing Program

Are you ready to own a home, but not quite ready for the costs associated with buying one? Our Affordable Housing Program (AHP) is designed for low- and moderate-income individuals who haven’t owned a primary residence in at least three years. AHP makes homeownership more accessible with flexible options to finance single- and multi-family homes within target areas of Massachusetts and Rhode Island. Features of AHP include:

• Fixed or adjustable-rate mortgage loan
• Lower down payment requirements
• Discounted private mortgage insurance (PMI)*
• Closing costs assistance
• U.S. Department of Housing & Urban Development (HUD) approved Home Ownership Counseling Program*

*PMI and HUD counseling is required. Approved housing agencies such as Pro-Home Inc along with other HUD-approved counseling agencies can provide the First Time Homebuyer training. For a list of HUD and Mass Housing-approved counseling providers please refer to the MassHousing website. Click here for more information on HUD income limits.

MassHousing

MassHousing loans feature low down payments and discounted private mortgage insurance (PMI) to make home buying in Massachusetts more affordable. These loans are available through the MassHousing Finance Agency.

For buyers of homes needing extensive repairs, the agency’s Purchase and Rehabilitation Mortgage provides financing up to 97% of the purchase price plus improvements.

All municipal employees qualify for MassHousing loans regardless of prior homeownership.

Visit the Massachusetts Housing website for a list of HUD and MassHousing approved counseling providers.

Residential Land Mortgages

Have you found the perfect piece of land for your home, but are not ready to build? Don’t wait to secure it. We offer a Residential Lot Loan to help you obtain the financing you need to purchase the land.

Jumbo Mortgages

A Jumbo Mortgage is specially designed to finance higher-priced homes. Our experienced mortgage consultants can help you decide if this option right for your financial situation.

Construction Permanent Mortgages

If you are considering constructing a property for your primary or secondary residence, our Construction Permanent Mortgage may be right for you. This mortgage allows for a construction period of up to twelve months and funds are released based on a construction schedule.

Product features:

• Interest-only payments on the amount of money disbursed during the construction period
• One closing for the construction and permanent financing
• A percentage of land value may release at closing
• Financing with or without Private Mortgage Insurance is available based on loan-to-value (LTV)
• Financing available for modular homes