Mortgage Products
Buying a home is one of the most important financial decisions you will ever make. So whether you are buying your first home, looking to build your dream home, or refinancing your existing residence, you need the experience and personal attention an Athol Savings Bank Lender can provide. Our lenders can help you choose a financing option that is right for you.
Fixed Rate Mortgages
Fixed rate mortgages offer steady monthly payments. The rate remains the same for the life of the loan. Flexible terms are available. Points are an option and allow you to "buy down" your rate in order to lower your monthly payment. Bi-weekly payment option is available. Bi-weekly mortgages save you money and accumulate equity faster.
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Adjustable Rate Mortgages
Adjustable rate mortgages (ARM's) provide a lower initial interest rate than fixed rate mortgages. It allows you to start with lower payments that will adjust to market conditions. Lower payments may allow you to qualify for a larger home. Adjustable rate mortgages have annual and lifetime interest rate "caps" to protect you from excessive fluctuations. The adjustable rate products are available in one, three, and five year re-pricing schedules.
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Construction Loans
Obtain your home's construction and permanent financing in a single step. Our construction loan products allows you to pay interest only on funds advanced up to nine months during the construction process then it is converted automatically to permanent financing. You will have only one closing. Athol Savings Bank offers a choice of fixed rate, adjustable rate, or convertible rate construction loans. There are no points, no inspection fees, and flexible terms.
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Features / requirements
- Rates are subject to change without notice
- 1-4 family owner occupied residence
- Annual Percentage Rate (APR) is based on a 20% down payment
- Borrowers with less than a 20% down payment will be required to obtain Private Mortgage Insurance
- Points are an option to buy down your rate on fixed rate mortgages
- Most loan products are available with a 9 month construction period
- Real Estate Loans will require borrowers to maintain satisfactory homeowners insurance coverage
- Contact an Athol Savings Bank lender or branch manager. Please call toll free 1-888-830-3200 or contact your local branch office. (Click here for locations and phone numbers.)
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