40-Year Mortgage*

Looking to buy your first home, upgrade to a larger one, or invest in a second home? Keep your monthly payments low with out 40-year mortgage.

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Benefits & Features

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5-year rate adjustment period

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

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Low down payment

Your APR is based on the down payment. We will be sure to walk you through all of your rate options so you get the financing that works best for you.

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Dedicated residential lending expert

Work with the same expert from application to closing, available to you directly by text, phone and email.

  • Comparison checkmark Stable rate adjustments every 5 years
  • Comparison checkmark Available for purchases or refinances
  • Comparison checkmark Loans are serviced locally for life of mortgage
  • Comparison checkmark Maximum rate adjustment is 5% above initial interest rate
  • Comparison checkmark 2% rate adjustment cap every 5 years, 5% cap over life of loan
  • Comparison checkmark Private mortgage insurance is available

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Other Residential Mortgage Options

Buying your first home? Congrats! We have a number of mortgage programs designed to help you pursue this milestone with ease:

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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.

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Make Your Dream Home A Reality

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

Contact us today so we can understand your situations and give you the best advice on our products.

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Frequently Asked Questions

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.

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

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

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Jumbo Mortgages

*As of April 1, 2024, the payment information provided below assumes the purpose of the loan is to purchase a property, with a loan amount of $647,200 and an estimated property value of $809,000. The property is an existing single family or condominium unit located in Massachusetts. The assumed credit score is 740.

At a 6.375% initial interest rate, the Annual Percentage Rate (APR) for this loan type is 7.076%, subject to increase. The estimated payment schedule would be:

  • 60 payments of $4,419.73 at an interest rate of 6.375%
  • 420 payments of $4,763.58 at an interest rate of 7.000%. This is an estimated fully indexed rate this loan could adjust to after the initial 60 month period.

Payment examples above do not include taxes or insurance. Your actual payment obligation will be greater.