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Mortgages

Fixed Rate Mortgage

The traditional fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

Hybrid ARM

These increasingly popular ARMS can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

Adjustable Rate Mortgages (ARM)

When it comes to ARMs there's a basic rule to remember...the longer you ask the lender to charge you a specific rate, the more expensive the loan.

Fixed Rate Home Equity Loan

A home Equity Loan lets you borrow money in one lump sum. You may use the funds to finance home improvement projects, college tuition, debt consolidation or to finance any number of needs.

Looking for a Home Equity Line of Credit information

For More Information and/or to Appy for a Loan

Contact South Shore Bank Mortgage Lending: 781-682-3715 or 800-875-3553

Or Email Our Loan Officers:

Richard Bernard rbernard@southshorebank.com or Vincent Tirrabassi vtirrabassi@southshorebank.com .

South Shore Bank is licensed to do business in Massachusetts. Our NMLS # is 407656.