Essex Savings Bank offers a wide variety of mortgage loan options to meet your individual needs.
Purchase a home or refinance your current home. We offer fixed and variable interest rate mortgages to help you with your financing.
Only 5% Down* on Residences up to $647,200
First Time Home Buyer Program
Applicants may close with their own attorney, but cannot have owned a house or condo in the past three years. Our First Time Home Buyer program applies to owner-occupied dwellings only. Private mortgage insurance required for loan to values over 80%. Loans in this program must be Fannie Mae eligible. Standard application fees apply.
*Maximum Loan-to-Value Ratio – 95% based on the lesser purchase price or appraised value
Home Equity Lines of Credit (HELOC)
With our HELOC, you can borrow using the equity in your home, subject to home value limitations. You can pay down your principal or take advances at any time provided you do not exceed the full amount of your line. Consult your tax advisor for possible tax advantages.
With HELOANs, use the equity in your home to obtain funds, subject to value limitations, with attractive fixed rates and monthly installment payments. Consult your tax advisor for possible tax advantages.