Buying Your Dream Home Has Never Been Easier

For many of us, purchasing a home is one of the biggest and most important purchases you will ever make. At Bay State Savings Bank, our trained and experienced mortgage loan officers will work with you every step of the way to find the financing solution that’s right for you. Whether you’re looking to buy, build, or refinance, we have a range of mortgage options to meet all your needs.

What is a Fixed Rate Mortgage?

A fixed rate mortgage is a type of mortgage where the interest rate remains the same throughout the loan term, therefore, the principal and interest payment will not change.

Benefits of a Fixed Rate Mortgage:

  • Interest rate remains the same even if rates rise.
  • Stable monthly payment.
  • Flexible terms

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What is a Adjustable Rate Mortgage (ARM)?

An ARM allows you to lock in a lower interest rate for a period of time, during which your monthly payment remains the same for the term selected. After the fixed rate period, your interest rate may adjust.

Benefits of a ARM:

  • Your interest rate won’t change during the initial fixed period.
  • No prepayment penalty.

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Other Mortgage Programs We Offer:

Construction-to-Permanent Mortgage

Whether you’re looking to build the home of your dreams or finally getting around to putting on that addition, Bay State Savings Bank has the solutions to meet your needs. With our Construction-to-Permanent mortgage, we offer a flexible product with just one loan closing.

First-time Homebuyer Programs

Buying a home is an exciting adventure, and it's probably the biggest purchase you'll make in your lifetime. If you’re just starting the homebuying process, or have not owned a home in the last 3 years, our first-time homebuyer programs may be the right fit for you.

Live Worcester Now Program

Live Worcester Now is a private/public partnership established to preserve and promote homeownership in the City of Worcester. These programs are designed to help potential homebuyers select a lending package that suits their income and their needs through trusted and responsible lenders, like Bay State Savings Bank.

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All loans are subject to credit approval. Additional restrictions may apply.