Get excited! whether you're buying your first, second or third home, we are here to help with a variety of products to fit your needs. In addition, we have an experienced staff to assist and consult with you on any type of mortgage request.

PRE-QUALIFICATION/PRE-APPROVAL

Before you buy, be pre-qualified so you know how much you can afford. Many real estate brokers require a buyer be pre-qualified before they will show you a home. Pre-qualification is absolutely free. Call (781) 231-3800.

FIRST-TIME HOME BUYERS

First-time buyers of residential (1-4 family owner-occupied) property may be eligible to participate in the program, which offers low rates, no points, reduced closing costs and down payments as little as zero for single family homes and condos, and 3% for 2-4 family units. Thirty year fixed products are available along with our three-year adjustable rate product. For terms and rates, please see Rates. Private Mortgage Insurance requirement is waived with as little as 10% down payment, saving $80 on our three-year adjustable mortgage.

Interest rate caps are 1% up or down after the first review 2% each subsequent review with a 5% cap.

Contact Tom Traverse (ttraverse@saugusbank.com) or (781) 426-2172

FIXED RATE MORTGAGES

Keep your principal and interest payments fixed over the life of  your loan. Excellent rates for 15 or 30 year terms. For current rates and terms, click Rates.

ADJUSTABLE RATE MORTGAGES

One, three and five year adjustable rate loans. Initial rates are lower than fixed rate loans and change with market rates at each adjustment period.

CONSTRUCTION LOANS

Residential construction loans provide funding during the building period and then automatically convert to a fixed or adjustable rate loan (Borrower's choice, so there is only a one-time closing.) Call Saugusbank’s Loan Dept. at (781) 231-3800 for more information.

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