Home Buying

We have a variety of options to finance your new home.

We know you have many choices when it comes to getting a mortgage. We offer affordable mortgage solutions, an online mortgage process and the added bonus of experienced, mortgage professionals to help you every step of the way.

When you’re ready, we’re here to help.

First Time Home Buyer Program

Our First Time Home Buyer Program was designed to welcome you to homeownership. We do that by breaking down the home buying process every step of the way. We then help you get pre-approved for your mortgage, which can give you an edge when you’re ready to make an offer. Once you’re pre-approved, you’ll know how much home you can afford, and potential sellers will know you are a qualified buyer.

First Time Home Buyer program features:

• Reduced interest rates
• Financing up to 97% on single-family homes
• No private mortgage insurance (PMI) with 10% down payment*
• Loan limits up to $929,850

*10% down, no Private Mortgage Insurance (PMI) option available on properties located in a stable or increasing value markets; 15% down, no PMI in declining value markets, as evidenced by a Residential Appraisal Report. Please see a Bristol County Savings Bank Mortgage Consultant for full details on these and other programs offered.

Affordable Housing Program

Are you ready to own a home but not quite ready for the costs associated with buying one? Our Affordable Housing Program (AHP) is tailor-made for your needs. Designed for low- and moderate-income individuals who haven’t owned a primary residence in at least three years, AHP makes it easier to afford homeownership. The program applies to single- and multi-family homes within target areas of Massachusetts and Rhode Island and features:

• Fixed or adjustable-rate mortgage loan
• Lower down payment requirements
• Discounted private mortgage insurance (PMI)*
• Closing costs assistance
• U.S. Department of Housing & Urban Development (HUD) approved Home Ownership Counseling Program*

*PMI and HUD counseling is required. Approved housing agencies such as Pro-Home Inc along with other HUD-approved counseling agencies can provide the First Time Homebuyer training. For a list of HUD and Mass Housing-approved counseling providers please refer to the MassHousing website. Click here for more information on HUD income limits.

 

MassHousing

We’re proud to offer these affordable housing programs in cooperation with MassHousing Finance Agency. MassHousing loans feature low down payments and discounted private mortgage insurance (PMI) to make home buying in Massachusetts as affordable as possible.

For buyers of homes needing extensive repairs, the agency’s Purchase and Rehabilitation Mortgage provides financing up to 97% of the purchase price plus improvements.

All municipal employees qualify for MassHousing loans regardless of prior homeownership.

Visit the Massachusetts Housing website for a list of HUD and MassHousing approved counseling providers.

 

Residential Land Mortgages

We offer mortgages that allow you to purchase a piece of land and build on it when you're ready. With our Residential Land Mortgages, you can finance just the land. We offer a variety of residential lot loan programs to help you obtain the affordable financing you need.

 

Jumbo Mortgages

We can also offer Jumbo mortgage, special loans designed to finance higher-priced homes. Our experienced mortgage consultants can help you decide if this is the right mortgage for your financial situation.

 

Construction Permanent Mortgages

If you are considering constructing a property for your primary or secondary residence, our construction permanent mortgage may be right for you. This mortgage allows for a construction period of up to twelve months and funds are released based on a construction schedule.

Product features:

• Interest-only payments on the amount of money disbursed during the construction period
• One closing for the construction and permanent financing
• A percentage of land value may release at closing
• Financing with or without Private Mortgage Insurance is available based on loan-to-value (LTV)
• Financing available for modular homes