Mortgage Rates

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

Questions? Call us at 413.568.1911, 860.838.3766 or 800.995.5734, visit one of our convenient offices.

Annual Percentage Rates (APRs) are accurate as of April 18, 2024. 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 Apply
10 Year Fixed Rate 6.125% 6.452% 0 $11.16 Apply Now
15 Year Fixed Rate 6.375% 6.690% 0 $8.64 Apply Now
20 Year Fixed Rate 6.625% 6.815% 0 $7.53 Apply Now
30 Year Fixed Rate 6.875% 7.069% 0 $6.57 Apply Now
30 Year Fixed Rate 6.625% 6.870% 1 $6.40 Apply Now

Fixed Rate - Second Homes

Product Interest Rate Annual Percentage Rate (APR) Points Payment per $1,000 Borrowed1 Apply
30 Year Fixed Rate 7.125% 7.277% 0 $6.74 Apply Now
30 Year Fixed Rate 6.875% 7.125% 1 $6.57 Apply Now

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 Apply
30 Year Fixed Rate 6.750% 6.897% 0 $6.49 Apply Now

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 Apply
6/1 Adjustable Rate2
Index 5.120%-Caps 2%, 6%
30 Years 6.125% 7.553% 0 $6.08 $7.23 Apply Now
7/3 Adjustable Rate2
Index 4.670%-Caps 2%, 6%
30 Years 6.250% 7.280% 0 $6.16 $7.14 Apply Now
10/1 Adjustable Rate2
Index 5.120%-Caps 2%, 6%
30 Years 6.375% 7.246% 0 $6.24 $7.27 Apply Now

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 Apply
Fixed Rate4 30 Years 6.875% 6.965% 0 $6.58 N/A Apply Now
7/3 Adjustable Rate2,4
Index 4.670% - Caps 2%, 6%
30 Years 6.250% 7.331% 0 $6.16 $7.18 Apply Now

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 Apply
Fixed Rate3 30 years 7.125% 7.221% 0 $6.74 N/A Apply Now
7/3 Adjustable Rate2,3
Index 4.670% - Caps 2%, 6%
30 years 6.500% 7.323% 0 $6.32 $7.21 Apply Now

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 Apply
3 Year Fixed Rate 3 Years 7.375% N/A 0.50 Interest Only Apply Now

Investment Loans

Product Term Interest Rate Annual Percentage Rate (APR) Points Payment per $1,000 Borrowed1 Apply
3/3 Adjustable Rate**
Index 4.670%
20 Years 7.125% 7.456% 1 $7.83 Apply Now
15 Year Fixed Rate 15 Years 7.375% 7.791% 1 $9.23 Apply Now
30 Year Fixed Rate 30 Years 7.875% 8.145% 1 $7.25 Apply Now

** 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 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.

Maximum Conforming Loan Amounts

1 Unit - $766,550
2 Unit - $981,500
3 Unit - $1,186,350
4 Unit - $1,474,400