Mortgage Rates

Buying a home is a journey with many steps. Finding the right location. Making the right offer. And securing the right financing.

At Westfield Bank, we have the mortgage products, expertise, and lending power to help your clients go from "just looking" to packing boxes. With pre-qualification, a user-friendly online loan application, and mortgage professionals at all of our 22 convenient offices, we can make your mortgage experience easy and hassle-free.

Questions? Contact us at (413) 568-1911, visit one of our convenient offices, or apply online at www.westfieldbank.com.

Apply Online

Apply Online

Get started >

Retail Lending Team

Retail Lending Team

Meet our team >

Rates are accurate as of April 4, 2019. All rates are subject to change without notice. Westfield Bank NMLS ID 439933

Fixed Rate Mortgages

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

30-Year Fixed

30 Years

4.125%

4.221%

0

$4.85

15-Year Fixed

15 Years

3.750%

3.918%

0

$7.27

Please ask us about other point options available.

1 The monthly payment per $1,000 borrowed does not include taxes and insurance. If applicable, taxes and insurance would increase your payment.

First Time Homebuyer Program - "WB First"

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

Payment per $1,000 After First Adjustment1

30 Year Fixed Rate

30 Years

4.000%

4.095%

0

$4.77

N/A

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.

1 The monthly payment per $1,000 borrowed does not include taxes and insurance. If applicable, taxes and insurance would increase your payment.

Adjustable Rate Mortgages*

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

Payment per $1,000 After First Adjustment1

5/1 Adjustable Rate

Index 2.490% - Caps 2%, 6%

30 Years

3.625%2

3.875%

5.161%2

5.296%

0

0

$4.56

$4.70

$5.76

$5.92

7/3 Adjustable Rate

Index 2.370% - Caps 2%, 6%

30 Years

3.750%2

4.000%

4.936%2

5.054%

0

0

$4.63

$4.77

$5.84

$6.00

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.

* 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 Federal Reserve’s statistical release H15. 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.

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

Construction Loans*

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

Payment per $1,000 After First Adjustment1

30-Year Fixed Rate

30 Years

4.375%

4.535%

0

$4.99

N/A

7/3 Adjustable Rate

Index 2.370% - Caps 2%, 6%

30 Years

4.250%2

4.500%

5.330%

5.438%

0

0

$4.92

$5.07

$6.16

$6.32

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.

* 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 3.50percent. 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 Federal Reserve’s statistical release H15. 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.

Land Loans

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

3 Year Fixed Rate

3 Years

5.250%

N/A

0.50

Interest Only

1 The monthly payment per $1,000 borrowed does not include taxes and insurance. If applicable, taxes and insurance would increase your payment.

Investment Loans

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

3/3 Adjustable Rate

20 Years

4.750%2
5.000%

4.946%
5.198%

0.50
0.50

$6.46
$6.60

5/5 Adjustable Rate

20 Years

5.000%2
5.250%

5.198%
5.450%

0.50
0.50

$6.60
$6.74

7/1 Adjustable Rate

20 Years

5.250%2
5.500%

5.450%
5.702%

0.50
0.50

$6.74
$6.88

20 Year Fixed Rate

20 Years

5.500%2
 

N/A

0.50

$6.88

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 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 Federal Reserve’s statistical release H15. 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. 


General Disclosures

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.

Unless otherwise noted, Annual Percentage Rates (APR) and payments assume a $100,000 mortgage, 20% down payment and 30-year term.

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

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.

Maximum Conforming Loan Amounts

1 Unit - $484,350
2 Unit - $620,200
3 Unit - $749,650
4 Unit - $931,600