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:
- Adjustable Rate Mortgages (ARMs) and Fixed 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
- Apply online for a mortgage loan
- See more rates
| Rates as Low as |
Rates as Low as |
| 15-year Fixed Jumbo |
FTHB 7/6mo ARM |
| 7.125% RATE1 |
6.875% RATE2 |
| 7.228% APR1 |
7.535% APR2 |
Loans that leverage your equity:
Options for your current loan:
Homebuying Seminar:
- 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
- Get a $1,000 Closing Cost Credit3 when you attend a First-Time Homebuying Seminar4
1Annual Percentage Rate (APR) as of 12/5/2023
and subject to change without notice and based on owner-occupied purchase-money transactions including new home purchases and refinances for Massachusetts properties located in Middlesex, Suffolk and Essex counties only. Minimum down payment of 5% required. Down payments less than 20% (including condominiums) require mortgage insurance. Homeowner’s Insurance is required. APR and payment example is based on 20% down. Payment example: based on a $647,201.00 mortgage, 180 monthly principal and interest payments of $5,862.55 (15-year amortization). Payment example does not include taxes, insurance, or amounts for any required mortgage insurance. The actual payment obligation will be higher. All loans are subject to credit and property approval. Other restrictions may apply. Bank’s NMLS ID #441396.
2Annual Percentage Rate (APR) as of 12/5/2023 and subject to change without notice and based on owner-occupied purchase-money transactions including new home purchases and refinances for Massachusetts properties located in Middlesex, Suffolk and Essex counties only. Minimum down payment of 5% required. Down payments less than 20% (including condominiums) require mortgage insurance. Home Owner’s Insurance is required. APR and payment example is based on 20% down payment. Payment examples do not include taxes, insurance, or amounts for any required mortgage insurance, and the actual payment obligation will be higher. (7/6mo) Payment example: for a $450,000 mortgage, 84 monthly principal and interest payments of $2,956.18. Based on a 30 year amortization, the new monthly principal and interest payments would be as follows: $4,337.00 in year eight and for the remaining term of the loan. The interest rate will remain fixed for the first seven years and can change every 6 months after that. The first adjustment cannot exceed +/- 5%, and subsequent adjustments cannot exceed +/- 1%. There is a lifetime change cap of 5% on the loan (11.875%). The index is the Secured Overnight Financing Rate (1-month “SOFR”) as published by the Federal Reserve Bank of New York. The Bank’s margin is 2.75%. All loans are subject to credit approval. Bank NMLS ID #441396.
3Variable Annual Percentage Rate (APR) is subject to change. The APR will be based on The Wall Street Journal Prime Rate (Prime) published on the last Bank business day of each month. As of 12/5/2023, the Prime Rate was 8.50%. Minimum 4.99% 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 7.99% APR. If the monthly payment is not automatically deducted from an ECSB checking/savings account, APR will equal Prime + 1%, currently 9.50% 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. 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.
4Seminar attendees who apply for our First-Time Homebuyer Loans will receive a $1,000 Closing Cost Credit toward an East Cambridge Savings Bank mortgage for property located in Arlington, Belmont, Cambridge, Chelsea, Everett, Lexington, Lynn, Malden, Medford, Newton, Revere, Saugus, Somerville, Waltham, Watertown, Winchester, and Woburn (good for one year from event). Closing Cost Credit subject to credit approval.