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Mortgages and Mortgage Loan Rates

Belmont Savings Bank primarily provides home mortgage loans to those within the cities and towns in Essex, Middlesex and Norfolk Counties in Massachusetts. Belmont Savings Bank also offers mortgages in Allston and Brighton, Massachusetts.

Rates posted offer conforming limits.  Call Belmont Savings Bank for jumbo lending rates. If you would like to apply for a pre-qualified mortgage, complete the Prequalification Request Form.

Effective as of September 30, 2016
Payments shown below do not include taxes or insurance.
Your payment may be greater.

Mortgage Loan Rates

Type Mortgage Interest Rate/Fully Indexed Rate Max Term/Months Points CAPS Annual Percentage Rate Payment per $10K
First Time Home Buyers 5/1 ARM 2.500%/3.375% 360 0.0 5/2/5 3.22% 60 Pmts of $39.50, 300 Pmts of $44.20
First Time Home Buyers 10/1 ARM 2.990%/3.375% 360 0.0 5/2/5 3.27% 120 Pmts of $42.10, 240 Pmts of $44.20
3/1 ARM 2.625%/3.375% 360 0.0 5/2/5 3.34% 36 Pmts of $40.20, 324 Pmts of $44.20
5/1 ARM 2.625%/3.375% 360 0.0 5/2/5 3.26% 60 Pmts of $40.20, 300 Pmts of $44.20
7/1 ARM 2.750%/3.375% 360 0.0 5/2/5 3.23% 84 Pmts of $40.80, 276 Pmts of $44.20
30 Year Fixed
(no closing costs)
3.750% 360 0.0 N/A 3.75% $46.40
30 Year Fixed 3.500% 360 0.0


3.55% $45.00
15 Year Fixed
(no closing costs)
3.125% 180 0.0 N/A 3.13% $69.70
15 Year Fixed 2.750% 180 0.0 N/A 2.86% $66.70

Mortgage Loan Requirements

  • First Time Homebuyers program available for 1 – 3 Family owner-occupied properties in Belmont, Arlington, Lexington, Newton, Waltham, and Watertown Massachusetts.
  • 1-4 Family Owner Occupied Residences.
  • Annual Percentage Rates based on a 20% downpayment.
  • 5% Downpayment mortgages are available (Private Mortgage Insurance required on mortgages with a downpayment of less than 20%, call for details)
  • Rates subject to change without notice and may change after consummation.
  • Mortgage loan payments are based on a monthly repayment schedule.
  • Adjustable rate mortgage loans are fixed for a period of time and will adjust annually. For example, a 5-1 adjustable mortgage is fixed for the first five years and will adjust annually thereafter. Please call for program details.
  • Any borrower obtaining a mortgage loan secured by real estate must provide the Bank with satisfactory proof of hazard/homeowner’s insurance.
  • Subject to credit approval.

For assistance, contact:

Rick Capobianco
Belmont Savings Bank
VP, Manager of Residential Lending
Mortgage Loan Officer
Email:  rick.capobianco@belmontsavings.com
NMLS #39923
Available for calls during the day, evening and weekends.

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