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Buy a Home

What you need to know in buying a home 

Northern Bank knows the importance of making your new house a home.  While exciting, moving into a new home can be stressful and we want to help make moving less about stress and more about achieving your dreams of home ownership.  At Northern Bank, we’re Home Purchase Specialists, and we offer personalized home loan options that fit your needs and lifestyle.

Send a message or Give us a call 800 273 6908

What type of loan works best for you?

Figuring out which mortgage to apply for can be confusing. Should you go fixed rate or adjustable? Do you need 5, 15 or 30 years? Northern Bank’s experienced team of mortgage experts can help you decide what is right for you.  You can also use the information below to help make your decision.


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Current Mortgage Rates

We offer competitive rates and customized solutions to meet your unique situation. Talk to one of our experienced mortgage loan officers to get a custom quote just for you.

Preferred if you plan to stay in your home for a long time and want to pay down your loan faster

15 year fixed

Preferred if you plan to stay in your home for a long time, or prefer stable, low monthly payments

30 year fixed

Preferred if you plan to move or refinance in 5 years or prefer the lowest payments in the near term

5 year ARM

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Rates assume a FICO score of at least 740.  Actual interest rates & fees will be based on your credit history and may be different than the rates displayed here.

 

Assumes owner will occupy the property.  The term "ARM" refers to Adjustable Rate Mortgage.  The rate on an Adjustable Rate Mortgage can increase during the life of the loan.

 

Rates apply to loan amounts up to $424,100, single family detached properties.  Other programs and property types available.  Contact us for a custom quote.

 

Rates and term subject to change without notice.  Subject to credit approval.    

 

Fixed Rate Mortgages

If you plan to stay in your new home for the long term or prefer the certainty of monthly payments that won't change during the life of the loan, a fixed rate mortgage may be the best option for you.  Northern Bank offers fixed rate mortgage options to meet your needs.

See our rates         Get a custom quote

 

 

Adjustable Rate Mortgages (ARMs)

If your priority is minimizing your monthly payment or you plan to move or refinance within five years, an ARM may be the best option for you.  

 

See our rates         Get a custom quote

Jumbo Loans

If you need a mortgage greater than $424,100, you may need to look at a Jumbo loan.  

In most counties in the United States (92% to be exact), a jumbo mortgage is a mortgage loan larger than $424,100.  Why does that matter to you?  Jumbo mortgages are similar to regular fixed or adjustable rate mortgages, but may have slightly different interest rates and frequently have different requirements in terms of down payments, qualifying credit scores, etc.

 

With a few simple questions, our Northern Bank mortgage experts can help determine if you qualify for a jumbo loan and get you moving.

 

Get a custom quote

 

 

 

Special Situations

Everyone’s situation is unique. Sometimes your income, credit history or other parts of your application don’t fit the standard industry criteria.  We can’t always make it work, but thanks to Northern Bank’s ability to hold mortgages in our portfolio, we can often be more flexible than many other lenders.   Some of the non-traditional situations we can consider include:

  • Super Jumbo Mortgages 
  • Non-Conforming Condominium Financing
  • Trust and LLC mortgages
  • Vacation and Seasonal Property mortgages
  • Non-QM Mortgages

Tell us about your situation and let's get you moving.

 

Get a custom quote

What you’ll need to apply

We work to make applying for a mortgage at Northern Bank as easy as possible.  You can start your application today online or talk to your local mortgage lender to get started.  You’ll need to verify  your income and employment history by providing:

  • W2s for the last 2 years
  • 2 most recent paystubs -  self-employed?  No problem – contact us
  • Bank statements for all accounts including investments
  • Signed personal / business tax returns

 

See our rates         Get a custom quote

Work with the best

Finance your home with a local leader.  Northern Bank has been rated the #1 mid-sized Bank in New England for 7 years running and, in 2015, we proudly took the #1 spot in the country. More details... Our success is thanks to an exceptional team and a long history of investing in our communities and neighbors, like you. 

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Call Us 800 273 6908

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