Hoping to buy or build a home in the Norfolk County area? Our expert residential lending team can help. With a mortgage program to suit the needs of each unique customer, Norwood Bank offers competitive rates and personal, community-bank service to guide you through the home loan process.
Mortgage and home equity loans come in all shapes and sizes. The home mortgage team at Norwood Bank has years of experience with mortgage programs and the application process. Our bankers are ready to help you decide which type of home loan is best for you.
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- Eligible for new mortgages or refinance
- Available for 30 year fixed loans, as well as 15 and 20 year loans
- Up to 95% financing with PMI
- Owner Occupied 1-4 family residences, condos, and second homes – No Investment properties
- Minimum loan amount of $250,000
The home lending team at Norwood Bank is happy to review and approve your home mortgage application—at no charge and with no obligation—before you head out to look at Massachusetts homes for sale. Pre-approval provides the confidence that you’re looking at homes you can afford, and the ability to make an offer immediately—a real plus when buying in competitive markets.
Norwood Bank finances homes all over Norfolk County, including Norwood, Westwood, Dedham, Medfield and Walpole. With options for the first-time homebuyer, the seasoned homeowner and the customer seeking to build a dream home, the residential lending team at Norwood Bank can help you select the mortgage type that is right for you.
Adjustable Rate Mortgages
With interest rates that adjust over one-year or three-year intervals, adjustable rate mortgages give the buyer greater “borrowing power” on closing day than a traditional mortgage.
Fixed Rate Mortgages
With a variety of term lengths and interest rates available, the fixed rate mortgage offers one monthly payment amount for the duration of the loan.
First-time buyers seeking to purchase a single family home can enjoy a discounted interest rate, zero points, low down payment requirements and closing cost credit. Learn More.
Fixed rate Jumbo Mortgages between $424,100 and $1,500,000 are available on single-family, owner-occupied properties for up to 80% of home value. Jumbo Mortgages are offered both for initial purchase and for refinancing.
Home Equity Financing
Thinking of doing some home improvements, making a major purchase, or funding education expenses? Tapping into your home’s equity may be the answer. Borrow as little as $20,000 or as high as $200,000 depending on the equity in your home. Home equity financing can be set up as a loan or a line of credit. With a home equity loan, you receive the total loan amount upfront, while a home equity credit line provides a source of funds that you can draw on as needed. Contact our mortgage specialists today learn more about our home equity programs.
Other Mortgage Options
Building a home in Massachusetts? Norwood Bank can help with a Builder-to-Buyer Mortgage, with personal guidance through the construction financing process.
“Home for the Brave” Loans for Veterans
U.S. Armed Services veterans living in Massachusetts qualify for affordable, no-down-payment home loans via MASS Housing’s special vets program.
Qualified borrowers with low to moderate income can obtain 30-year fixed rate mortgage loans with competitive interest rates and closing costs, and as little as 3% down payment.