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Loan Rates

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The following loan rates are accurate as of March 24, 2017. Rates are subject to change without notice.

Subject to individuals residing or working in Hampden or Hampshire Counties of MA; Greater Granby CT Area, Northern Hartford or Northern Tolland Counties of CT.

For mortgages, home equity loans, and home equity lines, rates are shown for owner-occupied properties. Call for rates for 1-4 family investment properties.

Questions about loan rates?

Contact a Home Loan Specialist at (413) 568-1911, (800) 995-5734, or visit one of our convenient offices.

Fixed Rate Mortgages

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

30 Year Fixed Rate

30 Years

4.1250%

4.2890%

0

$4.85

20 Year Fixed Rate

20 Years

3.8750%

4.0990%

0

$6.00

15 Year Fixed Rate

15 Years

3.2500%

3.5320%

0

$7.03

10 Year Fixed Rate

10 Years

3.1250%

3.5330%

0

$9.72

Please ask us about other point options available.

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

4.0000%

4.1620%

0

$4.78

N/A

10/1 Adjustable Rate

Index 0.820% - Caps 2%, 6%

30 Years

3.6250%2

3.8750%

4.0700%

4.2250%

0

0

$4.56

$4.70

$5.76

$5.92

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.

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 Mortgages

Product

Term

Interest Rate

Annual Percentage Rate (APR)

Points

Payment per $1,000 Borrowed1

Payment per $1,000 After First Adjustment1

1/1 Adjustable Rate
Index 0.820% - Caps 2%, 6%

30 years

2.500%2
2.750%

4.379%
4.400%

0
0

$3.96
$4.09

$5.07
$5.22

3/3 Adjustable Rate
Index 1.470% - Caps 2%, 6%

30 years

3.000%2
3.250%

4.691%
4.750%

0
0

$4.22
$4.36

$5.37
$5.53

5/1 Adjustable Rate
Index 0.820% - Caps 2%, 6%

30 years

3.000%2
3.250%

4.040%
4.129%

0
0

$4.22
$4.36

$5.37
$5.53

7/1 Adjustable Rate
Index 0.820% - Caps 2%, 6%

30 years

3.250%2
3.500%

4.002%
4.119%

0
0

$4.36
$4.50

$5.53
$5.68

10/1 Adjustable Rate
Index 0.820% - Caps 2%, 6%

30 years

3.750%2
4.000%

4.148%
4.304%

0
0

$4.64
$4.78

$5.84
$6.00

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

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.

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

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 Percentge Rate (APR)

Points

Payment per $1,000 Borrowed1

3/3 Adjustable Rate

20 Years

4.125%2
4.375%

N/A
N/A

0.50
0.50

$6.13
$6.26

5/5 Adjustable Rate

20 Years

4.250%2
4.500%

N/A
N/A

0.50
0.50

$6.19
$6.33

7/1 Adjustable Rate

20 Years

4.750%2
5.00%

N/A
N/A

0.50
0.50

$6.46
$6.60

Investment loans are for non-owner occupied residential real estate. 

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.


General Disclosures

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.

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 yr, 3 yr, 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.

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 - $424,100
2 Unit - $543,000
3 Unit - $656,350
4 Unit - $815,650

Home Equity Line of Credit

Index

Margin

CLTV

Monthly Payment Per $1,000 Borrowed3

1.99%

0

Up to 80%

Interest Only1

1.99%

0.500%

81% tp 85%4

Interest Only1

The minimum line of credit for the Home Equity Line of Credit is $10,000. An appraisal is required if loan amount is over $250,000.

The index is Prime Rate as published in the Wall Street Journal, currently 4.00% and can change monthly after remaining fixed for 1 day. An increase in the interest rate will result in a higher monthly payment. After the 6 month introductory period, the maximum APR is 18%. The APR will be Prime Rate with a minimum APR of 4.00% for lines up to 80% CLTV and 4.50% for lines between 81%-85%. Homeowners insurance is required on the property securing these loans.

The Home Equity Line of Credit is subject to an early termination fee of $550.00, or 2% of the initial credit limit, whichever is less if prepaid in full and closed within 24 months.

1 The 15 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 amortized over the 15 year term, plus interest.

The monthly payment per $1,000 borrowed does not include taxes and insurance. Your actual payment may be higher.

4 For an 81% - 85% CLTV loan, the maximum loan amount is $50,000. Borrower-paid appraisal required.
 

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.

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.

Home Equity Loan - Fixed Rate - First Lien

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment Per $1,000 Borrowed3

20 Year

4.500%2

4.500%

$6.33

15 Year

4.250%2

4.250%

$7.53

10 Year

4.000%2

4.000%

$10.13

5 Year

3.750%2

3.750%

$18.31

The minimum Home Equity Loan amount is $5,000. An appraisal is required if loan amount is over $250,000.

2 Rates include a 0.250% discount with automatic payment from a Westfield Bank checking account. Borrower-paid appraisal required for loans over 70% CLTV. CLTV = Combined Loan to Value

3 The monthly payment per $1,000 borrowed does not include taxes and insurance. Your actual payment may be higher.
 

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.

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.

Home Equity Loan - Fixed Rate - Second Lien/Subordinate/Junior Mortgages

CLTV

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment Per $1,000 Borrrowed3

Up to 80%

20 Year

4.750%2

4.750%

$6.47

Up to 80%

15 year

4.500%2

4.500%

$7.65

Up to 80%

10 Year

4.250%2

4.250%

$10.26

Up to 80%

5 Year

4.000%2

4.000%

$18.42

81% - 85%

15 Year

4.875%

4.875%

$7.85

81% - 85%

10 Year

4.500%

4.500%

$10.37

81% - 85%

5 Year

4.250%

4.250%

$18.53

The minimum Home Equity Loan amount is $5,000. An appraisal is required if loan amount is over $250,000.

2 Rates include a 0.250% discount with automatic payment from a Westfield Bank checking account. Borrower-paid appraisal required for loans over 70% CLTV. CLTV = Combined Loan to Value

3 The monthly payment per $1,000 borrowed does not include taxes and insurance. Your actual payment may be higher.
 

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.

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.

Car Loans

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment Per $1,000 Borrrowed

60 Months

2.990%*

3.090%

$17.97

48 Months

2.990%*

3.114%

$22.13

36 Months

2.990%*

3.154%

$29.08

New car loans are only available on model year 2017 up to 100% of the purchase price.

* 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.

Pre-owned car loan maximum financing is the lesser of 100% of the purchase price or 100% of the NADA clean retail value for model years 2012-2017.

  • Model year 2012 has a maximum term of 36 months
  • Model year 2013 has a maximum term of 48 months
  • Model years 2014-2017 have a maximum term of 60 months

Motorcycle, RV & Boat Loans

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment Per $1,000 Borrowed 

12-48 Months

6.750%*

6.750%

$23.84

20% Down Payment Required.

* 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

Term

Interest Rate

Annual Percentage Rate (APR)

Monthly Payment Per $1,000 Borrowed

60 Months

5.250%

5.250%

$18.99

48 Months

5.250%

5.250%

$23.15

36 Months

5.250%

5.250%

$30.09

24 Months

5.250%

5.250%

$43.99

12 Months

5.250%

5.250%

$85.73

100% financing with a maximum loan amount of $10,000. (Equity Loans or Equity Lines may be available for any loans over $10,000.)

Personal Line of Credit

Annual Percentage Rate (APR)

Minimum Loan

Maximum Loan

Annual Fee

18.00%

$500

$2,500

$0

No annual fee. You only pay finance charges on the amount you borrow.