| First Time Homebuyer MHFA
Mortgage |
| MHFA First Time Homebuyers Mortgage is one of the
most popular First Time Homebuyer programs on the market. It is for income
eligible borrowers who have not had ownership in any property within the last
three years. The minimum downpayment requirement is 3% while the maximum sales
price on an existing property is $180,900 and $264,500 for a newly constructed
property. The program also accepts owner occupied 2-4 families. The income
limits are $66,000 for a 1-2 person household and $75,900 for a 3 or more person
household. MHFA rates are generally lower than conventional rates and offer
0,1,& 2 point options. Apply now
|
| Fixed Rate Mortgage |
| Fixed Rate Mortgages are the traditional mortgage
with which most consumers are familiar. The rate is determined at the start of
the mortgage term and does not change for the life of the mortgage. We offer
10-30 year terms with buydown or no point options. This product is for owner
occupied property only. Down payments can be as low as 5%. Apply now
|
| Construction Mortgage |
| Spencer Savings Bank is a leader in construction
loan financing. We offer construction loans for all types of home construction
including stick built, modular, log, post and beam homes, and rehabilitation
projects. We even have a program to include your land financing. There is one
closing with a 9 month interest only construction phase that rolls into a
permanent mortgage. Available on a fixed or adjustable basis with varying terms
to suit your needs. Financing of up to 95% of the appraised value. Apply now.
|
| Adjustable Rate Mortgage |
| An Adjustable Rate Mortgage (ARM) features a
variable interest rate which is periodically adjusted. ARMs may provide the
security, flexibility and affordability prospective home buyers desire. These
loans are especially attractive to home buyers who plan to tradeup in future
years. Generally, initial interest rates are lower than on fixed rate mortgages.
We offer 1, 3, and 5 year ARMs with protective rate caps. This product is for
owner occupied properties. There are no points, no application fees, and no
prepayment penalties. Apply now
|
| Home Equity Line of Credit |
| Be your own loan officer with a revolving line of
credit. A Home Equity Line makes borrowing easy. Just write your personalized
credit line checks for all of your major purchases. The draw period is for five
years. The initial fixed rate is for the first 6 months and converts to prime
plus 0.00% thereafter, periodically adjusting as prime does. Apply now
|
| Home Improvement Loan |
| Would you like to turn your current house into
your dream house? Are you planning to make some needed repairs? Whatever your
needs, we're here to help you. A home improvement loan can help finance your
projects up to $40,000. We offer terms up to 180 months and low fixed rates with
no closing cost. Apply now
|
| Home Equity Loan |
| A Home Equity loan can be a great way to access
the equity in your home. We offer fixed rate terms up to 180 months and
adjustable rate terms up to 300 months. Apply now
|
| Land
Loan |
If land is what you need financed, you've come to
the right place. We offer terms up to 180 months with low fixed rate financing
and as little as 20% downpayment.
Apply now
|
| Auto
Loan |
| Once you have found your perfect new or used car,
you can depend on our fast and hassle free financing to put you behind the
wheel. We offer competitive rates and terms to fit every budget. Apply now
|
| Motorcycle/Recreational Vehicles/Boat Loans
|
| Every season has its recreational vehicles. When
the season's right for you, come to Spencer Savings Bank for great rates and
flexible terms on motorcycles, boats, snowmobiles, recreation vehicles, jetskis
etc. Apply now
|
Equal Housing Lender | Member: FDIC | Member: DIF