Fixed Rate Mortgage
Financing a new home is an easy process with Florence Savings Bank. In fact, sometimes it's much easier than finding the perfect home. Our Western Massachusetts mortgage experts and local management team offer outstanding personal service and quick decisions.
Fixed rate mortgages (also called conventional mortgages) are a popular option with many of our customers. They're a great way to let you budget your expenses while eliminating the risk of potential interest rate increases.
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- Summary
- Guaranteed fixed interest rate for term of mortgage
- Local decision-making
- Low down payment options available*
- Mortgage Prequalification available
- First-time homebuyer programs available
- Rate-lock options available
- Available for owner-occupied 1- to 4-family homes
- Jumbo fixed rates available
*Private mortgage insurance (PMI) is required for loans more than 80% of the appraised property value.
- Why Choose a Fixed Rate?
- Your interest rate will never increase
- Little or no change in monthly principal and interest payments
- Option to pay "points," an upfront investment that reduces interest rate, and resulting monthly payment
- First-Time Homebuyer Program
The First-Time Homebuyer Program is available if you have not owned a home within the last three years from the date of application. We also participate in a number of federal and state programs designed to help first-time homebuyers overcome some of the obstacles to getting a mortgage, including the Guaranteed Rural Housing Program, Soft Second Loan Program, and MassHousing Loan Program. Low down payment options are available. Contact FSB to learn more.
