Waterfield Bank has a full-range of quality low-cost, fixed and variable rate mortgage products. We also strive to provide a selection of flexible mortgage solutions that meet the needs of most types of consumer credit. It is our goal to make your home mortgage loan application as educational, needs-based and client-focused as possible with terms, features and loan options that fit within your overall financial plan.

Fixed Rate Mortgages
A "fixed rate" mortgage is a loan secured by a real estate mortgage in which the interest rate and the amount of each payment remain constant throughout the life of the loan. There are a variety of term options. "Term" refers to length of time that it would take to fully satisfy the principal balance, based upon regular timely payments that are prescribed within the loan's promissory note.

ARM (Adjustable Rate) Mortgages
An "ARM" loan is a real estate secured mortgage in which the interest rate is periodically adjusted, moving higher or lower in the same ratio as a pre-selected index, such as Treasury Bill Rates. ARM loans may include caps on interest rate increases in a given time period, and over the life of the loan, and may include limits on the frequency of interest rate adjustments. ARM loans generally have initial below market interest rates in return for sharing the risk that interest rates may rise during the life of the loan. Please request an ARM product disclosure to obtain detailed information on the limitations and parameters of the loan's characteristics.

Jumbo
A "jumbo" is a loan that exceeds the statutory dollar limit eligible for purchase by the Federal Home Loan Mortgage Corporation (Freddie Mac) or Federal National Mortgage Association (Fannie Mae). The statutory limit adjusts each year based upon and index established by Congress.

Click here to apply online, or for more information, apply for a loan, and for current rates please contact us at 1-888-560-0092

 

Waterfield Bank offers a variety of home equity products to turn your dreams into reality.

Home Equity Line of Credit
A Waterfield Bank home equity line of credit is a great way to borrow money. Secured by the equity in your home, the home equity line of credit offers convenient access to your funds with interest rates that are generally much lower than most credit cards. Once approved, you will be provided with special checks that enable you to write yourself a loan at anytime up to your prearranged credit limit. The home equity line of credit has a variable interest rate tied to the Wall Street Journal Prime rate at the end of each month plus or minus and index. line amounts are available up to the current appraised home value. (Subject to credit approval)

Home Equity Loan
Home equity loans are great for home improvements, tuition, debt consolidation or even a vacation. There are a variety of terms options. "Term" refers to the length of time that it would take to fully satisfy the principal balance, based upon regular timely payments as prescribed within the loan's promissory note. Simplify your life and your finances with a Waterfield Bank Home Equity Loan.

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For more information and for current rates please contact us at 1-888-560-0092.