Residential Mortages

Athol Savings Bank has many mortgage options to choose from including fixed rate, variable rate, and bi-weekly mortgages. They can be used to either purchase your dream home, or refinance your existing mortgage.

Fixed Rate Mortgages

Fixed rate mortgage plans are ideal for people who feel more comfortable with an interest rate locked in for the life of the loan and steady monthly payments.

• Maximum Loan Amount - $417,000
• Maximum Loan to Value*
• Down Payment Required
• Closing Costs**
• Various Repayment Terms 
• Automatic Payment Available but not required

* Loans which exceed 80% loan to value will be required to obtain private mortgage insurance. Certain additional restrictions may apply.

**First Time Homebuyers may qualify for closing cost discounts. Income limits apply and are subject to change without notice.

Adjustable Rate Mortgages (ARMS)

Adjustable rate mortgage plans allow you to start with lower payments that will eventually adjust to market conditions. Annual lifetime caps are provided to protect you from excessive interest rate fluctuations.

• Maximum Loan Amount - $417,000
• Maximum Loan to Value*
• Down Payment Required
• Margin: 2.75% Caps: 5/1 ARM 2/6, 1 yr and 3yr ARMS 2/5
• Closing Costs**
• Various Repayment Terms
• Automatic Payment Available but not required

* Loans which exceed 80% loan to value will be required to obtain private mortgage insurance. Certain additional restrictions may apply.

**First Time Homebuyers may qualify for closing cost discounts. Income limits apply and are subject to change without notice.

Biweekly Mortgages

Biweekly mortgage plans will save you money on your mortgage payments. By making your payments on a biweekly basis (at half the monthly payment amount), you can shorten the term of your conventional mortgage by years.

• Maximum Loan Amount - $417,000
• Maximum Loan to Value*
• Down Payment Required
• Closing Costs**
• Various Repayment Terms 
• Automatic Payment Required

* Loans which exceed 80% loan to value will be required to obtain private mortgage insurance. Certain additional restrictions may apply.

**First Time Homebuyers may qualify for closing cost discounts. Income limits apply and are subject to change without notice.

Construction Loans

Construction loans allow you to finance your home construction and your new home in a single step, saving you time and money. Plus, you'll pay interest only on funds advanced during the first 9 months of construction.

• Maximum Loan Amount - $417,000
• Maximum Loan to Value - 80%
• Down Payment Required
• Closing Costs
• Interest only Construction Period followed by Various Repayment Terms 
• Automatic Payment available, but not required

First Time Homebuyer

If you are considering buying your first home, this program was designed just for you with lower rates and flexible qualifying guidelines.

• Maximum Loan Amount - $417,000
• Maximum Loan to Value*
• Down Payment Required
• Closing Costs**
• Various Repayment Terms 
• Automatic Payment available, but not required

* Loans which exceed 80% loan to value will be required to obtain private mortgage insurance. Certain additional restrictions may apply.

**First Time Homebuyers may qualify for closing cost discounts. Income limits apply and are subject to change without notice.

Low to Moderate Income Program

This program offers an opportunity to home buyers who might lack the funds and income to qualify for more traditional mortgages. We will discuss your financial situation with you and help determine your eligibility.

• Maximum Loan Amount - $417,000
• Maximum Loan to Value*
• Down Payment Required
• Closing Costs**
• Various Repayment Terms 
• Automatic Payment available, but not required

* Loans which exceed 80% loan to value will be required to obtain private mortgage insurance. Certain additional restrictions may apply.

**First Time Homebuyers may qualify for closing cost discounts. Income limits apply and are subject to change without notice.

Land Loans

Land loans allow you to finance land now to build your dream home later. We provide land loans to qualified borrowers for the purchase or refinance of construction ready lots.

• Maximum Loan Amount - $417,000
• Maximum Loan to Value - 60%
• Down Payment Required
• Closing Costs
• Short Term Repayment Options 
• Automatic Payment available, but not required