40-Year Mortgage

Turn your dream of home ownership into reality with Needham Bank’s new 5/5 Adjustable Rate Mortgage with a 40-year term. Owning a home has never been so easy.

3.375% Rate
4.831% APR*

Apply Now

Benefits & Features 

5-Year Rate Adjustment Period

Your rate adjusts every five years over your 40-year term, making monthly payments much more affordable.

Low Down Payment 

To start with, your estimated competitive APR of 5.125% is based on a down payment of just 15%. You can even bring your down payment lower as needed – we’ll adjust your APR accordingly.

Dedicated Residential Lending Expert

Work with the same Needham Bank expert from application to closing, so you know you're partnering with someone who understands your needs and is invested in your success. Our lenders are available directly by text, phone and email to help you through the home buying process. 

40-Year Mortgage Highlights

  • 40-year term for lower monthly payments
  • Rate adjustments every 5 years
  • Available for purchases or refinances
  • Loans serviced locally
  • Private Mortgage Insurance available for down payments under 15%
  • Maximum rate adjustment is 5% above initial interest rate
  • 2% rate adjustment cap every 5 years
  • 5% adjustment cap over life of loan

Serving Our Clients

Which Mortgage is Right for You?

If you're planning to buy a home in MA, spend time understanding your home loan options. Let Needham Bank help you decide which mortgage is right for you.

Learn more about Which Mortgage is Right for You?


What’s the fastest way to pay my NB mortgage from my NB Checking Account?

The easiest way to pay your NB mortgage from your NB Checking Account is through NB Online Banking or NB Business Online Banking by completing a transfer from your checking account to your mortgage.

Can I pay my mortgage from another account?

Yes, you may complete an ACH Agreement in order to do so. Call our Loan Servicing Department at (781) 474-5802 or complete the Authorization Form. Please forward the form to the Loan Operations Department via US Mail or email us at LoanOperations@NeedhamBank.com

Why did my mortgage payment amount change?

Payment changes result from an adjustment to your interest rate or your escrow payment. Our Loan Operations Department will assist you in providing answers to all your questions. Please contact us by calling (781)474-5802 or by email at LoanOperations@NeedhamBank.com

Knowledge Center

Should You Rent or Buy a Home?

Let Needham Bank help you decide whether to buy or rent your next home in MA. We can help you determine if you are ready to acquire a home loan and more.

Learn more about Should You Rent or Buy a Home?

Our new 5/5 ARM with a 40-year term makes owning a home even more feasible than ever before.

Apply Now

View Current Rates

*The Annual Percentage Rate stated above is as of October 31, 2019 and is based on a 15% down payment on owner occupied residences only. A loan with a smaller down payment may require Private Mortgage Insurance (PMI) which will result in a higher APR. The maximum rate adjustment is 5% above the initial interest rate. Initial 60 month principal and interest payment of $3.88 per $1,000 borrowed followed by an estimated $5.05 per $1,000 borrowed for 420 months does not include taxes or insurance. Subject to credit approval and subject to change without notice.