Southwick

Fixed Rate Mortgages

*A first time homebuyer is an individual who has had no ownership in a principal residence during the 3-year period preceding the date of the purchase of the property.
**The Land Loan is interest only for 3 years with a balloon payment at the end of the 3 years for the full principal balance.

Adjustable Rate Mortgages (ARM)³

The Annual Percentage Rate (APR) on all Adjustable Rate Mortgages (ARMs) may increase after closing. The interest rate may increase during the life of the loan which may result in a higher monthly payment.

Maximum Conforming Loan Amounts

Home Equity Line of Credit - 10 Year Draw, 15 Year Repayment Period - Up to 80% CLTV

Home Equity Line of Credit | 10 Year Draw, 15 Year Repayment Period - 80.01-85.00% CLTV†

The minimum Home Equity Line of Credit amount is $10,000. The index is Prime Rate as published in the Wall Street Journal, currently 8.000% 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%. 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. The 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. ¹For 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%. ²For 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%. ³The 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 (Second, Subordinate, Junior Liens) | 80% CLTV

Home Equity Loan (Second, Subordinate, Junior Liens) | > 80% to 85% CLTV†

The minimum Home Equity Loan amount is $5,000. ⁵Interest rate reflects a 0.25% discount if you maintain an automatic payment withdrawal from a new or existing Westfield Bank checking account. The account must be opened prior to the settlement of your loan.

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. Subject to individuals residing or working in Massachusetts or Connecticut. CLTV = Combined Loan to Value. An appraisal is required for a loan request greater than or equal to $400,000 or CLTV is >80%-85%. Homeowners insurance is required on the property securing the loan. 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 to third parties. *The monthly payment does not include taxes and insurance. Your actual payment may be greater. ^†For Home Equity Loans and Lines of Credit >80%-85% CLTV, the maximum loan amount is $50,000.

Rates are subject to change without notice. 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.

Auto Loans - Consumer Only

New car loans are only available on model year 2024 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 

Pre-owned car loan maximum financing 2019-2024. 

• Model year 2019 has a maximum term of 36 months, Lesser of 80% of the purchase price or 80% NADA Clean Retail 
• Model year 2020 has a maximum term of 48 months, Lesser of 80% of the purchase price or 80% NADA Clean Retail 
• Model years 2021-2024 have a maximum term of 60 months, Lesser of 90% of the purchase price or 90% NADA Clean Retail 

*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. 

Recreational Vehicles

20% Down Payment Required.  **APR is based off of 48 months.  *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. (Home Equity Loans or Lines of Credit 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.