Matt Manganelli
VP, Retail Lending Sales Manager
141 Elm Street, Westfield, MA
Office: 413-564-2659
mmanganelli@westfieldbank.com
Annual Percentage Rates (APRs) are accurate as of November 30, 2023. All rates are subject to change without notice.
Westfield Bank NMLS ID 439933
Fixed Rate Mortgages
| Product | Interest Rate | Annual Percentage Rate (APR) | Points | Payment Per $1,000 Borrowed1 |
|---|---|---|---|---|
| 10 Year Fixed Rate | 6.250% | 6.555% | 0 | $11.23 |
| 15 Year Fixed Rate | 6.375% | 6.593% | 0 | $8.64 |
| 20 Year Fixed Rate | 6.625% | 6.802% | 0 | $7.53 |
| 30 Year Fixed Rate | 6.875% | 7.013% | 0 | $6.57 |
| 30 Year Fixed Rate | 6.625% | 6.860% | 1 | $6.40 |
Fixed Rate - Second Homes
| Product | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 |
|---|---|---|---|---|
| 30 Year Fixed Rate | 7.125% | 7.266% | 0 | $6.74 |
| 30 Year Fixed Rate | 6.875% | 7.114% | 1 | $6.57 |
Please ask us about other point options available.
First Time Homebuyer Program - "WB First"
| Product | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 |
|---|---|---|---|---|
| 30 Year Fixed Rate | 6.750% | 6.886% | 0 | $6.49 |
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
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 | Payment per $1,000 After First Adjustment1 |
|---|---|---|---|---|---|---|
|
6/1 Adjustable Rate2 Index 5.260%-Caps 2%, 6% |
30 Years | 6.375% | 7.729% | 0 | $6.24 | $7.41 |
|
7/3 Adjustable Rate2 Index 4.630%-Caps 2%, 6% |
30 Years | 6.500% | 7.400% | 0 | $6.32 | $7.25 |
|
10/1 Adjustable Rate2 Index 5.260%-Caps 2%, 6% |
30 Years | 6.625% | 7.445% | 0 | $6.40 | $7.45 |
Construction Loans (loan amounts up to $999,999)
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 | Payment per $1,000 After First Adjustment1 |
|---|---|---|---|---|---|---|
| Fixed Rate4 | 30 Years | 6.875% | 6.959% | 0 | $6.57 | N/A |
|
7/3 Adjustable Rate2,4 Index 4.630% - Caps 2%, 6% |
30 Years | 6.500% | 7.445% | 0 | $6.33 | $7.28 |
Construction Loans (loan amounts of $1,000,000+)
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 | Payment per $1,000 After First Adjustment1 |
|---|---|---|---|---|---|---|
| Fixed Rate3 | 30 years | 7.125% | 7.219% | 0 | $6.74 | N/A |
|
7/3 Adjustable Rate2,3 Index 4.630% - Caps 2%, 6% |
30 years | 6.750% | 7.508% | 0 | $6.49 | $7.30 |
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
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 |
|---|---|---|---|---|---|
| 3 Year Fixed Rate | 3 Years | 7.375% | N/A | 0.50 | Interest Only |
Investment Loans
| Product | Term | Interest Rate | Annual Percentage Rate (APR) | Points | Payment per $1,000 Borrowed1 |
|---|---|---|---|---|---|
|
3/3 Adjustable Rate** Index 4.630% |
20 Years | 7.375% | 7.697% | 1 | $7.98 |
| 15 Year Fixed Rate | 15 Years | 7.375% | 7.773% | 1 | $9.20 |
| 30 Year Fixed Rate | 30 Years | 7.875% | 8.134% | 1 | $7.25 |
** 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.
General Disclosures Applicable to All Mortgages
Unless otherwise noted, Annual Percentage Rates (APR) and payments assume a $200,000 mortgage, 20% down payment and 30-year term.
Loans with loan-to-value ratios greater than 80% require private mortgage insurance.
Except where noted for Investment Loans and Second Homes, Interest rates stated are for primary residences only.
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.
1 The monthly payment per $1,000 borrowed does not include taxes and insurance. If applicable, taxes and insurance would increase your payment.
Disclosures applicable to all Adjustable Rate Mortgages (ARM)
The APR on all ARMs may increase after closing. The interest rate may increase during the life of the loan which may result in a higher monthly payment.
2 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 weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year, 3 years as made available by the Board of Governors of the Federal Reserve System. For example, the 6/1 Adjustable Rate Mortgage has a fixed period of six years and every year thereafter the index would adjust to the most recent weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year.
Maximum Conforming Loan Amounts
1 Unit - $726,200
2 Unit - $929,850
3 Unit - $1,123,900
4 Unit - $1,396,800
As Retail Lending Sales Manager, Matt is responsible for directing and evaluating the consumer, equity, and residential lending sales activities for the bank. He specializes in developing lending solutions for consumers throughout MA and CT. With over twenty years of experience, Matt is committed to creating a sense of ease and confidence in the process of purchasing a home.
“Helping a customer buy, build, or refinance a home never gets old,” says Matt. “It’s an emotional experience because homes are where memories are made.”
Matt earned a BA from UMASS Amherst and a MSA from Western New England University. He is an active member of the Realtor Association of the Pioneer Valley and the Greater Hartford Association of Realtors. He also serves on the Western Mass Mortgage Review Board.