Natick Federal Makes It Easier To Buy or Refinance your Home
Mortgage Pre-Qualification Worksheet | Lending Rates
At Natick Federal Savings, you’ll get more than a competitive mortgage rate. You’ll get a wide variety of mortgage program options, quick turnaround time on your loan application, and responsive personal service from an experienced staff of knowledgeable banking professionals. We’d like to help make it that way by taking the worry out of applying for a mortgage. That’s why we would like you to take our Home BuyAbility Test. It will help you find out how much home is right for you, so you can feel more comfortable when you apply for your mortgage loan with us.
Obtaining a Natick Federal Savings mortgage is easy. When you need personalized service, simply call one of the loan service professionals at your hometown bank. We’ll work hard to get you the best mortgage possible at terms you can live with and rates you can afford.
Mortgage Program Choices
We have options whether you’re purchasing, refinancing, building or remodeling.
Whenever you’re ready to take the important step of buying or refinancing a home, you’ll be comforted to know that we offer a variety of mortgage plans to suit any individual’s financial or personal needs. Some program choices include loans where servicing is retained by the bank, while in other programs servicing will not be retained.
CORRESPONDENT MORTGAGE PROGRAM
Because people have different mortgage needs, Natick Federal Saving offers a Mortgage Correspondent Program that expands our variety of mortgage options. The loans under this program will be subject to the limitations and requirements of our correspondent partners. The loan application still starts with us, but, these loans will not be maintained or serviced by Natick Federal Savings Bank. See our Lending Rates.
NATICK FEDERAL MORTGAGE PROGRAM
Natick Federal offers a variety of in-house mortgage plans to suit your financial and personal needs when you’re ready to take the important step of buying or refinancing a home. These loans are processed by us and serviced by us. You’ll be dealing with the people you know and who know the local community
This means we can bring you: Adjustable Rate Mortgages
An adjustable rate mortgage is a mortgage loan with an interest rate that changes periodically based on a predetermined index. We offer mortgages based on the Cost-of-Funds index as well as the 1-year U.S. Treasury. The initial interest rate is normally lower than on a fixed-rate mortgage and may result in substantial savings over the life of the loan. See our Lending Rates.
Fixed Rate Mortgages
Have the comfort of knowing exactly how much is due each month. Fixed rate mortgages guarantee your rate for the life of the mortgage and are available with zero point and low point options with terms from 10 to 30 years. See our Lending Rates.
Let us help you through the process of financing your first home. Our First Time Home Buyer Program includes substantial reductions in closing costs and, if you choose an adjustable rate mortgage, we’ll reduce yearly and lifetime interest rate caps. Our mortgage professionals will guide you through the application and processing and be here for servicing you throughout the life of the loan. See our Lending Rates.
Pre-Qualification
Go shopping for your new home, knowing that you have mortgage financing waiting for you when you’re ready. The process is simple and the response is fast. Call one of our mortgage professionals at (508) 653-2340 to find out what information we need to make your shopping for a new home easier. See our Mortgage Pre-Qualification Worksheet.
Jumbo Mortgages
Let us work with you to personalize a mortgage for your dream home. Call our Lending Department at (508) 653-2340 and talk to one of our banking professionals about how we can meet your dream home financing needs.
Once you know approximately how much home is in your price range, use the guide below or our convenient Mortgage Calculators to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes and insurance and are also not included on the chart, but may be added to your monthly payments.
Equal Monthly Payment to Amortize a Loan of >$1,000 |
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| Rate |
15 Years
|
20 Years | 25 Years | 30 Years | |
| 5.00% | $ 7.91 | $ 6.60 | $ 5.85 | $ 5.37 | |
| 5.25% | $ 8.04 | $ 6.74 | $ 6.00 | $ 5.53 | |
| 5.50% | $ 8.18 | $ 6.88 | $ 6.15 | $ 5.68 | |
| 5.75% | $ 8.31 | $ 7.03 | $ 6.30 | $ 5.84 | |
| 6.00% | $ 8.44 | $ 7.17 | $ 6.45 | $ 6.00 | |
| 6.25% | $ 8.58 | $ 7.31 | $ 6.60 | $ 6.16 | |
| 6.50% | $ 8.72 | $ 7.46 | $ 6.76 | $ 6.33 | |
| 6.75% | $ 8.85 | $ 7.61 | $ 6.91 | $ 6.49 | |
| 7.00% | $ 8.99 | $ 7.76 | $ 7.07 | $ 6.66 | |
| 7.25% | $ 9.13 | $ 7.90 | $ 7.23 | $ 6.82 | |
| 7.50% | $ 9.28 | $ 8.06 | $ 7.39 | $ 7.00 | |
| 7.75% | $ 9.42 | $ 8.21 | $ 7.56 | $ 7.17 | |
| 8.00% | $ 9.56 | $ 8.37 | $ 7.72 | $ 7.34 | |
| 8.25% | $ 9.71 | $ 8.53 | $ 7.89 | $ 7.52 | |
| 8.50% | $ 9.85 | $ 8.68 | $ 8.06 | $ 7.69 | |
| 8.75% | $ 10.00 | $ 8.84 | $ 8.32 | $ 7.87 | |
Monthly Mortgage Payment Guide |
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| Mortgage Amount | 4% APR | 5% APR | 6% APR | 7% APR | 8% APR | |
| $ 60,000 | $ 286 | $ 322 | $ 360 | $ 399 | $ 440 | |
| $ 80,000 | $ 382 | $ 429 | $ 480 | $ 532 | $ 587 | |
| $ 100,000 | $ 477 | $ 537 | $ 600 | $ 665 | $ 734 | |
| $ 120,000 | $ 573 | $ 644 | $ 719 | $ 798 | $ 881 | |
| $ 140,000 | $ 668 | $ 751 | $ 839 | $ 931 | $ 1,028 | |
| $ 160,000 | $ 764 | $ 859 | $ 959 | $ 1,064 | $ 1,174 | |
| $ 180,000 | $ 859 | $ 966 | $ 1,079 | $ 1,198 | $ 1,321 | |
| $ 200,000 | $ 955 | $ 1,074 | $ 1,199 | $ 1,331 | $ 1,468 | |
The above rates are for illustrative purposes only. They are based on the Annual Percentage Rate (APR) indicated for principal and simple interest with a term of 30 years. We offer a variety of mortgage plans. See our Lending Rates or Contact Us for more information.
Whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, ask about a Homeowner’s Credit Line. It can help you save on fees when you apply; interest when you want to borrow money; and, on taxes at the end of the year.
Is Refinancing Right For You? Generally, it’s a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage. And whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, ask about a Homeowner’s Credit Line. It can help you save on fees when you apply; interest when you want to borrow money; and, on taxes at the end of the year.
For more details, speak to one of our mortgage loan experts at (508) 653-2340 or Apply Today.
<table border=”0″ cellspacing=”0″>
<tbody>
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<td colspan=”7″>
<h3>Monthly Mortgage Payment Guide</h3>
</td>
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<tr>
<td style=”height: 30px;”><strong>Mortgage Amount</strong></td>
<td style=”width: 15px;”></td>
<td style=”width: 70px; height: 30px;”><strong>4% APR</strong></td>
<td style=”width: 70px; height: 30px;”><strong>5% APR</strong></td>
<td style=”width: 70px; height: 30px;”><strong>6% APR</strong></td>
<td style=”width: 70px; height: 30px;”><strong>7% APR</strong></td>
<td style=”width: 70px; height: 30px;”><strong>8% APR</strong></td>
</tr>
<tr>
<td style=”text-align: left;”><strong>$ 60,000</strong></td>
<td></td>
<td>$ 286</td>
<td>$ 322</td>
<td>$ 360</td>
<td>$ 399</td>
<td>$ 440</td>
</tr>
<tr>
<td style=”text-align: left;”><strong>$ 80,000</strong></td>
<td style=”width: 15px;”></td>
<td>$ 382</td>
<td>$ 429</td>
<td>$ 480</td>
<td>$ 532</td>
<td>$ 587</td>
</tr>
<tr>
<td style=”text-align: left;”><strong>$</strong><strong> 100,000</strong></td>
<td style=”width: 15px;”></td>
<td>$ 477</td>
<td>$ 537</td>
<td>$ 600</td>
<td>$ 665</td>
<td>$ 734</td>
</tr>
<tr>
<td style=”text-align: left;”><strong>$ 120,000</strong></td>
<td></td>
<td>$ 573</td>
<td>$ 644</td>
<td>$ 719</td>
<td>$ 798</td>
<td>$ 881</td>
</tr>
<tr>
<td style=”text-align: left;”><strong>$ 140,000</strong></td>
<td></td>
<td>$ 668</td>
<td>$ 751</td>
<td>$ 839</td>
<td>$ 931</td>
<td>$ 1,028</td>
</tr>
<tr>
<td><strong>$ 160,000</strong></td>
<td></td>
<td>$ 764</td>
<td>$ 859</td>
<td>$ 959</td>
<td>$ 1,064</td>
<td>$ 1,174</td>
</tr>
<tr>
<td><strong>$ 180,000</strong></td>
<td></td>
<td>$ 859</td>
<td>$ 966</td>
<td>$ 1,079</td>
<td>$ 1,198</td>
<td>$ 1,321</td>
</tr>
<tr>
<td><strong>$ 200,000</strong></td>
<td></td>
<td>$ 955</td>
<td>$ 1,074</td>
<td>$ 1,199</td>
<td>$ 1,331</td>
<td>$ 1,468</td>
</tr>
</tbody></table>
- Various terms and options available.
- Pre-qualifications to help you shop for the house you want with confidence..
- First Time Homebuyer Programs available.
- Prompt Approvals.
- Automatic payment from a Natick Federal Savings Account or any checking account.
Take a look at some of your options with the Natick Federal Mortgage Program: