From custom built dream homes to that first condo, we love working with our neighbors on projects of any scale or complexity. Every East Cambridge loan includes a dedicated lender available to you every step of the way, ready to provide as much or as little guidance as you would like.
Home purchasing and mortgage options at East Cambridge:
Loans that leverage your equity:
- Fixed and Adjustable Rate Mortgages with a variety of terms and rate options
- Easily accessible First-Time Homebuyers Program
- Investment Property Loans
- Owner-Occupied Construction Loans
- Rehabilitation Loans
- Pre-approval process available so you can move quickly once you find the home you desire
- Refinance or purchase
- The mortgage rate for a 30-year fixed (conforming or jumbo) is as low as 3.125% with an APR of 3.174%1
- Apply online for a mortgage loan
- Calculate how much you can afford
Options for your current loan:
- Home Equity Lines with adjustable rates, flexible repayment periods, and easy access to funds when you need them
- Home Equity Loans with fixed rates and a broad range of repayment terms
- Rates as low as 2.74% APR2
- Apply online for a home equity loan
- In the market for a new home? Learn everything you need to know from local experts at East Cambridge Savings Bank
- Click here to register for a virtual homebuying seminar or watch our webinar
Annual Percentage Rate (APR) as of 4/15/2021 and subject to change without notice and based on Owner-occupied purchase-money transactions including new home purchases and refinances (strictly from other financial institutions) for Massachusetts properties located in Middlesex, Suffolk and Essex counties only. APR and payment example is based on 20% down. Payment example: based on a $450,000 mortgage, 360 monthly principal and interest payments of $1,927.69 (30 year amortization). Payment example does not include taxes, insurance, or amounts for any required mortgage insurance. The actual payment obligation will be higher. Down payments less than 20% (including condominiums) are available and require mortgage insurance. Minimum down payment is 5%. Home Owner’s Insurance is required. All loans are subject to credit and property approval. Other restrictions may apply. Bank’s NMLS ID #441396.
Variable Annual Percentage Rate (APR) is subject to change. The APR will be based on The Wall Street Journal Prime Rate (Prime) published on the first Bank business day following the 24th of each month. As of 4/14/21, the Prime Rate was 3.25%. Minimum 2.74% APR; maximum 18% APR. If the monthly payment is automatically deducted from an East Cambridge Savings Bank (ECSB) checking/savings account, APR will equal Prime - .51%, currently 2.74% APR. If the monthly payment is not automatically deducted from an ECSB checking/savings account, APR will equal Prime + 1%, currently 4.25% APR. Minimum line $25,000; maximum line $250,000. Maximum combined loan-to-value based on satisfactory value of the property as determined by East Cambridge Savings Bank equaling 75%. Early termination fee equal to ECSB closing costs (approximately $0 to $900) applies if the line is closed within the first 24 months. All lines will be assessed a $50 annual fee. Available for 1-4 family owner-occupied in Essex, Suffolk, and Middlesex counties only. Property insurance required, including flood insurance if applicable. Property must be in Massachusetts. Properties where title is held in trust are not eligible. Maximum term is 240 months. Minimum payment of interest-only during the 120 months of line access (draw period). Principal and interest payments during the 120 months of no line access (repayment period). Other restrictions may apply. Offer subject to change without notice. Subject to credit approval.