Conventional Mortgages | Equity Plus | Second Mortgages | MA Housing First Time Home Buyer
Construction Mortgages | Investment Mortgages
Whether you’re buying a home or refinancing your present mortgage, we offer competitive rates and flexible terms, with local decision making. While maintaining our special portfolio programs, we have expanded our array of mortgage products in order to tailor-make a program to meet your specific needs. When you’re ready to shop, you’re ready to be pre-qualified. We’ll walk you through the application process to assist you in purchasing your new home.
Call one of our Mortgage Loan Officers for an appointment at 978-546-3411. If you would like to calculate various loan amounts and terms, please try our Mortgage Calculator. Please refer to our RATE PAGE for rates and terms.
We offer a variety of fixed and adjustable rate mortgage programs with terms of 10 to 30 years from which to choose.
- Fixed Rate Mortgages are ideal for people who feel more comfortable with an interest rate locked in for the life of the loan and steady monthly payments.
- Adjustable Rate Mortgages (ARM’s) With this plan interest rates change periodically. Annual and lifetime caps are provided to protect you from excessive fluctuations.
Mass Housing First Time Home Buyer Program
We have partnered with the Mass Housing First Time Buyer’s Program to offer competitive rates, flexible qualifying guidelines, and reduced closing costs. For more information or to apply, please contact Marianne Dean or Maureen S. Burke , our Mortgage Loan Officers.
Home Equity Line of Credit with Fixed-Rate Option**
- No Points
- Fixed Rate/Lock-In Option
- Flexible – Combines Variable Line and Fixed Rate Loans
- No Annual Fees
Our unique “Equity Plus” not only provides the convenience of a variable rate Home Equity Line of Credit, but also the ability to fix the rate, payment, and term on all or a portion of your Home Equity Line, while keeping the variable portion open for additional use. The Fixed Rate Loan option is available when needed, without re-applying or re-financing. As the loan principal is reduced the line will increase and become available for use at the current variable rate. The minimum Fixed Rate Lock-In amount is $10,000.00, with a regular principal and interest payment and a term of no more than 10 years, not to exceed the maturity date of the mortgage. The “locked in” payment must be automatically withdrawn from a Rockport National Bank account. Please call or stop in to see a Loan Officer or Customer Service Representative for more details.
For large single purchases, a fixed rate, fixed term loan may be the option you prefer.
If you decide to build, our Loan Officers can help guide you through the process. Move from construction financing to permanent financing effortlessly, so you can concentrate building your dream house!
Please call one of our Loan Officers for more information.
*The interest you pay may be tax deductible, so please consult your tax advisor.
** The “Equity Plus” Revolving Line of Credit has a Variable Annual Percentage Rate (APR) equal to the Wall St. Journal Prime (WSJP) less .50% for lines of 50,000 or more. Lines less than $50,000 have a variable APR equal to the WSJP plus 1.00%. There is a .25% discount on the variable loan payment when it is deducted from a Rockport National Bank account. For loans $10,000 or more, the Fixed Rate/Lock-In portion is equal to the WSJP less .75%. A maximum of 5 rate locks are allowed. The first rate lock is free; each additional lock is $75.00. The loan to value ratio cannot exceed 80%. Eligible on 1-4 owner-occupied residences only. Property insurance required. The Revolving Line of Credit is subject to a floor rate 4.00%. There is a lifetime interest cap of 18%.There is a penalty for early termination, defined as within 12 months. The rate/offer is subject to change without notice. Closing costs apply. The Equity Plus program is for new lines only. Existing RNB Rockline customers can switch to the new program by signing a Change of Terms and Conditions Form and paying a $100.00 fee. The interest you pay may be tax deductible, so please consult your tax advisor.
