Mortgage Rates
At Westfield Bank, we have the mortgage products, expertise, and lending power to help you go from "just looking" to packing boxes. With pre-qualification, a user-friendly online loan application, and mortgage professionals at all of our convenient offices, we can make your mortgage experience easy and hassle-free.
Questions? Call us at 413.568.1911 or 800.995.5734, visit one of our convenient offices, or apply online.
Annual Percentage Rates (APRs) are accurate as of April 15th, 2021. All rates are subject to change without notice.
Westfield Bank NMLS ID 439933
Fixed Rate Mortgages
First Time Homebuyer Program - "WB First"
| Product | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 | Apply |
|---|---|---|---|---|---|
| 30 Year Fixed Rate | 3.000% | 3.090% | 0 | $4.21 | Apply Now |
A first-time homebuyer is an individual who has no ownership in a principal residence during the 3-year period preceding the date of the purchase of the property.
Adjustable Rate Mortgages*
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed | Payment per $1,000 After First Adjustment | Apply |
|---|---|---|---|---|---|---|---|
|
5/1 Adjustable Rate Index 0.08%-Caps 2%, 6% |
30 Years |
3.500%2 3.750% |
3.673%2 3.763% |
0 0 |
$4.49 $4.63 |
$5.67 $5.83 |
Apply Now |
|
7/3 Adjustable Rate Index 0.32%-Caps 2%, 6% |
30 Years |
3.750%2 4.00% |
3.910%2 4.029% |
0 0 |
$4.63 $4.77 |
$5.83 $5.99 |
Apply Now |
Construction Loans (loan amounts up to $999,999)
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 | Payment per $1,000 After First Adjustment1 | Apply |
|---|---|---|---|---|---|---|---|
| Fixed Rate | 30 Years | 6.125% | 6.405% | 0 | $6.08 | N/A | Apply Now |
|
7/3 Adjustable Rate* Index 4.030%-Caps 2%, 6% |
30 Years |
4.750%2 5.000% |
6.334%2 6.487% |
0 0 |
$5.22 $5.37 |
$6.49 $6.65 |
Apply Now |
Construction Loans (loan amounts of $1,000,000+)
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $100,000 Borrowed1 | Payment per $100,000 After First Adjustment1 | Apply |
|---|---|---|---|---|---|---|---|
| Fixed Rate | 30 Years | 6.375% | 6.458% | 0 | $62.41 | N/A | Apply Now |
|
7/3 Adjustable Rate* Index 4.030% - Caps 2%, 6% |
30 Years |
5.000%2 5.250% |
6.271% 6.427% |
0 0 |
$53.70 $55.24 |
$66.56 $68.25 |
Apply Now |
Land Loans
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 | Apply |
|---|---|---|---|---|---|---|
| 3 Year Fixed Rate | 3 Years | 5.250% | N/A | 0.50 | Interest Only | Apply Now |
Investment Loans
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 | Apply |
|---|---|---|---|---|---|---|
| 3/3 Adjustable Rate** | 20 Years |
4.500%2 4.750% |
4.694% 4.946% |
0.50 0.50 |
$6.32 $6.46 |
Apply Now |
| 15 Year Fixed Rate | 15 Years | 3.750% | 3.993% | 0.50 | $7.27 | Apply Now |
| 30 Year Fixed Rate | 30 Years | 4.125% | 4.264% | 0.50 | $4.84 | Apply Now |
Investment loans are for non-owner occupied residential real estate.
General Disclosures Applicable to All Mortgages
Unless otherwise noted, Annual Percentage Rates (APR) and payments assume a $100,000 mortgage, 20% down payment and 30-year term.
Loans with loan-to-value ratios greater than 80% require private mortgage insurance.
The program description is not an offer to extend credit. The extension of credit is dependent upon your credit history, loan-to-value ratio, and other factors.
1 The monthly payment per $1,000 borrowed does not include taxes and insurance. If applicable, taxes and insurance would increase your payment.
2 Customers who request and maintain an automatic payment withdrawal from a new or existing Westfield Bank checking account are eligible for an interest rate reduction of 0.250 percentage points during the fixed interest rate period on select WB ARM loan products. New accounts must be opened prior to closing.
Disclosures applicable to all Adjustable Rate Mortgages (ARM)
The APR on all ARMs may increase after closing. The interest rate may increase during the life of the loan which may result in a higher monthly payment.
* Adjustable Rate Mortgage interest rates are based on a margin plus an index rounded to the nearest 1/8th of 1 percent. The margin is currently 3.50 percent. The index is the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year, 3 years, or 5 years of the loan as published in the Wall Street Journal . For example, the 5/1 Adjustable Rate Mortgage has a fixed period of five years and every year thereafter the index would adjust to the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year.
** Adjustable Investment Rate Mortgage interest rates are based on a margin plus an index rounded to the nearest 1/4th of 1 percent. The margin is currently 4.50 percent. The index is the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year, 3 years, or 5 years of the loan as published in the Wall Street Journal. For example, the 3/3 Adjustable Rate Mortgage has a fixed period of three years and every three years thereafter the index would adjust to the most recent monthly average yield on U.S. Treasury Securities adjusted to a constant maturity of 3 years.
Maximum Conforming Loan Amounts
1 Unit - $548,250
2 Unit - $702,000
3 Unit - $848,500
4 Unit - $1,054,500