Agawam

Fixed Rate Mortgages

Fixed Rate - Second Homes

Please ask us about other point options available.

First Time Homebuyer Program - "WB First"

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

Construction Loans (loan amounts up to $999,999)

Construction Loans (loan amounts of $1,000,000+)

³The Annual Percentage Rates (APR) and payments assume a $1,000,000 mortgage, 20% down payment and 30 year term.

⁴The Annual Percentage Rates (APR) and payments assume a $400,000 mortgage, 20% down payment and 30 year term.

Land Loans

Investment Loans

** Investment loans are for non-owner occupied residential real estate. 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 weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of 3 years, as made available by the Board of Governors of the Federal Reserve. 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 weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of 3 year.

Home Equity Line of Credit | 10 Year Draw | 15 Year Repayment Period

The minimum line of credit for the Home Equity Line of Credit is $10,000. An appraisal is required if a loan request is greater than or equal to $400,000.

The index is Prime Rate as published in the Wall Street Journal, currently 8.500% and can change monthly after remaining fixed for 1 day. An increase in the interest rate will result in a higher monthly payment. The maximum APR is 18%. Homeowners insurance is required on the property securing these loans.

The Home Equity Line of Credit is subject to an early termination fee of $550.00 if prepaid in full and closed within 24 months.

³For Lines >80.01% - 85% CLTV, the maximum loan amount is $50,000. Borrower-paid appraisal required.

⁴The 10 year draw period is interest only and the remaining 15 year repayment period will be the principal balance remaining at the end of the draw period divided by the number of months in the repayment period, plus interest.

⁵ For average daily balances less than $25,000 on the day the monthly statement is issued, the interest rate will be Prime Rate with a minimum interest rate of 3.750%.

⁶ For average daily balances $25,000 and above on the day the monthly statement is issued, the interest rate will be Prime Rate minus 1.00% with a minimum interest rate of 3.750%.

⁷ The interest rate will be Prime Rate Plus 0.50% with a minimum interest rate of 4.250%.

Home Equity Loan (First Lien) | 80% CLTV

Home Equity Loan | Fixed Rate | Second Lien/Subordinate/Junior Mortgages

The minimum Home Equity Loan amount is $5,000. An appraisal is required if a loan request is greater than or equal to $400,000.

¹Rates include a 0.250% discount with automatic payment from a Westfield Bank checking account.

General Disclosures Applicable to All Home Equity Loans and Lines

Home Equity Loan and Home Equity Line of Credit products are available for one to four unit owner occupied primary residences including condominiums.

²The monthly payment per $1,000 borrowed does not include taxes and insurance. Your actual payment may be higher.

³For loans >80.01% - 85% CLTV, the maximum loan amount is $50,000. Borrower-paid appraisal required.

CLTV = Combined Loan to Value. These program descriptions are not an offer to extend credit. The extension of credit is dependent upon your credit history, loan-to-value ratio, and other factors.

You must pay certain third party fees for loans greater than or equal to $250,000. These fees total between $0.00 and $2,457.00. If you ask, we will give you an itemization of the fees that you will have to pay third parties.

Car Loans

New car loans are only available on model year 2023 up to

• 100% of the purchase price for loan amounts up to $50,000
• 90% of the purchase price for loan amounts up to $50,001 - $70,000
• 80% of the purchase price for loan amounts up to $70,001 or more

*Rates include a 0.250% discount with automatic payment from a Westfield Bank checking account. New accounts must be opened prior to closing. Call us for more details.

Pre-owned car loan maximum financing 2018-2023.

• Model year 2018 has a maximum term of 36 months, Lesser of 80% of the purchase price or 80% NADA Clean Retail

• Model year 2019 has a maximum term of 48 months, Lesser of 80% of the purchase price or 80% NADA Clean Retail

• Model years 2020-2023 have a maximum term of 60 months, Lesser of 90% of the purchase price or 90% NADA Clean Retail

Motorcycle, RV & Boat Loans

20% Down Payment Required.

*Rates include a 0.250% discount with automatic payment from a Westfield Bank checking account. New accounts must be opened prior to closing. Call us for more details.

Pool and Spa Loans

90% of the purchase price with a maximum loan amount of $10,000. (Equity Loans or Equity Lines may be available for any loans over $10,000.)

Personal Line of Credit

No annual fee. You only pay finance charges on the amount you borrow.