Annual Percentage Rates (APRs) are accurate as of September 19, 2024. All rates are subject to change without notice.
Westfield Bank NMLS ID 439933
Fixed Rate Mortgages
| Program | Term | Purpose | Interest Rate | APR | Points | Payment Per $1,000 Borrowed1 | Apply |
|---|---|---|---|---|---|---|---|
| First Time Homebuyer Program "WB First"* | 30 Years | Purchase | 5.875% | 6.011% | 0 | $5.92 | Apply Now |
| Conventional | 30 Years | Purchase or Refinance | 5.990% | 6.170% | 0 | $5.99 | Apply Now |
| Conventional | 30 Years | Purchase or Refinance | 5.750% | 5.979% | 1 | $5.84 | Apply Now |
| Conventional | 20 Years | Purchase or Refinance | 5.750% | 5.929% | 0 | $7.02 | Apply Now |
| Conventional | 15 Years | Purchase or Refinance | 5.500% | 5.723% | 0 | $8.17 | Apply Now |
| Conventional | 10 Years | Purchase or Refinance | 5.250% | 5.563% | 0 | $10.73 | Apply Now |
| Second Home | 30 Years | Purchase or Refinance | 6.250% | 6.390% | 0 | $6.16 | Apply Now |
| Second Home | 30 Years | Purchase or Refinance | 6.000% | 6.233% | 1 | $6.00 | Apply Now |
| Investment2 | 15 Years | Purchase or Refinance | 6.500% | 6.899% | 1 | $8.71 | Apply Now |
| Investment2 | 30 Years | Purchase or Refinance | 7.000% | 7.252% | 1 | $6.65 | Apply Now |
| Land Loan** | 3 Years | Purchase | 6.500% | 6.500% | 0.50 | Interest Only | Apply Now |
| Permanent Construction (Loan amounts <$1,000,000) | 30 Years | Construction | 6.000% | 6.126%4 | 0 | $6.00 | Apply Now |
| Permanent Construction (Loan amounts ≥$1,000,000) | 30 Years | Construction | 6.250% | 6.306%5 | 0 | $6.16 | Apply Now |
*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
| Program | Term | Purpose | Interest Rate | APR | Index | Fully Indexed Rate | Points |
Monthly Payment per $1,000 Borrowed |
Monthly Payment per $1,000 after First Adjustment |
Apply |
|---|---|---|---|---|---|---|---|---|---|---|
| 6/1 Adjustable Rate | 30 Years | Purchase or Refinance | 6.125% | 7.066% | 4.080% | 7.625% | 0 | $6.08 | $7.01 | Apply Now |
| 7/3 Adjustable Rate | 30 Years | Purchase or Refinance | 6.250% | 6.753% | 3.460% | 7.000% | 0 | $6.16 | $6.71 | Apply Now |
| 10/1 Adjustable Rate | 30 Years | Purchase or Refinance | 6.375% | 6.933% | 4.080% | 7.625% | 0 | $6.24 | $6.94 | Apply Now |
| Permanent Construction 7/3 Adjustable Rate (Loan amounts <$1,000,000) | 30 Years | Construction | 6.250% | 6.772%4 | 3.460% | 7.000% | 0 | $6.16 | $6.66 | Apply Now |
| Permanent Construction 7/3 Adjustable Rate (Loan amounts ≥$1,000,000) | 30 Years | Construction | 6.500% | 6.834%5 | 3.460% | 7.000% | 0 | $6.32 | $6.68 | Apply Now |
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
| 1 Unit - $766,550 | 2 Unit - $981,500 | 3 Unit - $1,186,350 | 4 Unit - $1,474,400 |
|---|
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. Unless otherwise noted, Annual Percentage Rates (APR) and payments assume a $200,000 mortgage, 20% down payment and 30 year term. Except where noted for Investment Loans, Interest Rates stated are for primary residences only. Loans with loan-to-value ratios greater than 80% require private mortgage insurance.
1The monthly payment per $1,000 borrowed does not include taxes and insurance. If applicable, taxes and insurance will increase your payment. 2Investment loans are for non-owner occupied residential real estate. 3Adjustable Rate Mortgage interest rates are based on a margin plus an index rounded to the nearest 1/8th of 1 percent. The initial interest rate may be discounted until the first review period. The margin is currently 3.50%. The index is the most recent weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of 1 year or 3 year, 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. ARM Caps: 2% per adjustment/6% lifetime. 4The APR and payments assume a $400,000 mortgage, 20% down payment and 30 year term. 5The APR and payments assume a $1,000,000 mortgage, 20% down payment and 30 year term.