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Residential Loan Programs

First Time and Affordable Housing Buyers

Buying your first home can be a stressful and intimidating decision but we’re here to help! With 30-year fixed loans at competitive rates we can offer low to zero down payment options to qualified borrowers! 

We are also a participating lender with MassHousing, an independent, quasi-public agency charged with providing financing for affordable housing in Massachusetts. Let us work together and make homeownership a reality for all qualified borrowers. MassHousing offers loan programs such as the MHM Conv and the MHM FHA that can also be utilized for a Rate and Term Refinance.

If you are interested in one of these programs, please reach out to one of our lending specialists, to help you with the process. Please contact your nearest branch or lender.

First-Time Home Buyer 1,2

South Shore Bank knows buying your first home can be expensive and we are here to help!

We begin by reducing your rate by 0.125% off our standard qualifying rate and we also cover the cost of your appraisal.

Contact a South Shore Bank representative for more details.

Hometown Heroes1,3

South Shore Bank wants to give back to our local heroes who keep us all healthy and safe!

Eligible heroes include: Healthcare Professionals (doctors, nurses, certified nursing assistants, pharmacists, pharmacy technicians, physician's assistants, therapists, medical technicians, or technologists), Educators (pre-K through grade 12 teachers, administrators, or counselors) and First Responders (EMS, Fire, and Police)

As our thanks to you for all you do, this product reduces the interest rate by .125% to help you save money when purchasing a new home or refinancing an existing mortgage. Contact a South Shore Bank representative for more details.

Refinance your Current Loan

Lower your payment, take cash out, save on interest payments?

Do you think your rate is high? We might be able to offer you a lower rate and help you save on monthly payments!

Have you built up some equity and looking to make home improvements? Maybe you would like to pay down debt? We can potentially structure a cashout-refinance to get you the funds or need!

Or perhaps your financially savvy, and looking to avoid interest payment and pay that current mortgage off sooner? Well we have a wide variety of loan terms to help meet your needs!

Just like with purchases, our team of highly qualified lending officers are here to answer your questions and work on lending solutions for you or you can start your refinance online. As always, we’re here to help you either way.

Please use our calculator to determine if refinancing is best for you!

Home Purchase

The perfect loan for the perfect home

Since 1833 South Shore Bank has been taking care of the lending needs of the South Shore. Work with one of our lending specialists or start an application online to get your home buying process started today. You may even be able to receive a pre-qualification letter so you can comfortably begin searching for your dream home!

Our team of highly qualified lending officers are here to answer your questions and work on lending solutions for you. You can call to make an appointment with our team or start right now by using our apply online option. Choose which ever option is most convenient for you, we are ready to help no matter what!

Products

  • Conventional Fixed Rate Loans
  • Adjustable Rate Loans (ARMs)
  • Jumbo Loans

Construction & Renovation

Lets build or renovate your new home together!

Our construction programs are one time close and here to help you and your builder finance the home of your dreams. Create a funding schedule that pays out your construction needs to your contractor as planned! Pay interest only on the first 12 months of construction disbursements and have your loan automatically convert to a fixed rate loan after.

You will need to work with one of our lending specialists for Construction loans, please contact your nearest branch or lenders.

And you do have options on loan programs! Choose between a 30yr fixed or a 10/5 ARM, both in with conventional and jumbo loan limits.

Home Equity Loan

A Home Equity Loan lets you borrow a single lump sum of money that will be repaid over the course of an agreed upon term. Since both the rate and term are fixed, loan payments will be predictable.

 

Mortgages | View Our Rates | Meet Our Lenders| Pay Your Mortgage

 

1 South Shore Bank allows loans with LTVs as high as 95%, and multiple rate lock periods for all programs, including Hometown Heroes and First Time Homebuyers. Please contact your loan officer for more specific details on loan qualifications.

First Time Homebuyer loans are available to borrowers who are purchasing their first home or have not owned or been part owner of a home for more than 3 years. South Shore Bank will cover the cost of the appraisal on eligible First Time Homebuyer loans. To be eligible for discounted rate and appraisal cost coverage: 1) open a new South Shore Bank Checking account, which is subject to approval, OR have an existing South Shore Bank Checking account; AND 2) set-up and continuance of an automatic payment deduction from a South Shore Bank Checking account. LTV maximum is 95% and FICO minimum is 660.

Hometown Heroes loans are available to healthcare workers including, Doctors, Nurses (including RN, LPN, APN's), therapists including Physical and Occupational. Pre K – 12th Grade teachers, administrators, and counselors for both public and private schools. Additionally, First Responders including Fire, Police, and EMS personnel are eligible. To be eligible for discounted rate: 1) open a new South Shore Bank Checking account, which is subject to approval, OR have an existing South Shore Bank Checking account; AND 2) set-up and continuance of an automatic payment deduction from a South Shore Bank Checking account. LTV maximum is 95% and FICO minimum is 660.

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