Portfolio Loans

We provide portfolio loans to make home and property ownership within reach when it would otherwise not be possible. Portfolio loans offer personalized lending solutions to borrowers with unique financial circumstances- particularly those who might be having difficulty getting approved for standard secondary market loans.

If you have unique financial circumstances or requirements, we will work with you to customize a loan based on your specific needs. Our portfolio loans are ideal for:

  • Self-employed borrowers
  • Foreign nationals
  • Borrowers with good assets and consistent income who may have experienced some credit issues

Our mortgage loan underwriters recognize that some borrowers have unique situations that require flexible terms. Please contact a Loan Originator so we can understand your situation and give you the best advice on our products.

Contact a Loan Originator

Types of Portfolio Loans

Alternate Verification of Income

Does not use traditional documentation to validate the income of the borrower. These loans are typically intended for self-employed borrowers, or investors who might have a hard time documenting their income. 

Non-Warrantable Condominiums

A financing option for condos that don’t meet all of the Fannie Mae or Freddie Mac qualified lending requirements. Even if a borrower is creditworthy, when a condo is non-warrantable, it can be difficult to get a conventional mortgage, so many buyers use a portfolio loan to buy the property. 

Fixed or Variable Rate Options

Allow the borrower to choose a payment option that fits their budget. With fixed loans, the interest rate on the loan remains the same for the life of the loan. Variable interest rate loans typically have a lower, fixed interest rate for a specific length of time, and then a variable rate that adjusts with market rates thereafter.  

Benefits of Portfolio Loans

  • Creative income analysis

  • Flexibility in underwriting guidelines

  • Alternative income documentation options

  • Financing made simple for self-employed borrowers

  • Financing available for recent credit event borrowers

  • Available to foreign national borrowers 

  • Purchase, refinance or debit consolidation options

FAQs

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.

How can I pay my mortgage online?

The easiest way to pay your Needham Bank mortgage is to perform a transfer from your NB Checking account.  You can even set up scheduled recurring transfers to ensure that you won’t miss a payment.

Knowledge Center

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?

Our mortgage loan underwriters recognize that some borrowers have unique situations that require flexible terms. Please contact a Loan Originator so we can understand your situation and give you the best advice on our products.

Contact a Loan Originator