Wakefield Co-operative Bank offers a variety of home mortgage products to meet the needs of today's consumer. We provide mortgages for owner occupied 1-4 family residential houses and condominiums. In addition, we offer mortgages on non-owner occupied investment properties. Automatic payment service is available. Whether you're a first time home buyer, buying a bigger house, downsizing, or purchasing a vacation home, let our experienced mortgage consultants help make this process simpler for you.
Pre-Approval Program
We have access to the latest automated underwriting technology which means we can provide you with a quick Pre-Approval. A Pre-Approval will allow you to know how large a mortgage you can afford before beginning the house-hunting process. This will assist you and your real estate broker in quickly identifying properties in the right price range for you and give you added leverage in the negotiating process.
Fixed Rate Mortgage
We offer a variety of fixed rate programs with repayment periods from five to thirty years available. Fixed rate mortgages appeal to borrowers who like the stability of a fixed interest rate and monthly payment. This type of mortgage helps you manage your budget because the monthly principal and interest payments are always the same. Click here for current rates
Adjustable Rate Mortgage (ARM)
Our adjustable rate mortgage programs allow you to borrow at generally lower initial rates of interest that will adjust at certain intervals throughout the life of the loan. Interest rates and payments can move up and down over the life of the loan. However, interest rate adjustments are protected from extreme interest rate increases. This option may appeal to you if you plan to stay in your home for a short period of time or anticipate a significant rise in income or liquidity. Click here for current rates
Construction/Permanent Mortgage
Our construction/permanent mortgage programs allow you to borrow funds to complete the construction of a new home or the renovation of an existing home and to automatically convert to either a fixed or adjustable rate permanent mortgage with only one application and closing process.
First time home buyer program
Buying your first home can be an overwhelming experience. Talk to the people in our lending department and they will walk you through the process - every step of the way. Find out how to take advantage of our first time home buyer program with the following benefits:
- Free Pre-Qualification
- Special, low interest rates available
- Flexible underwriting guidelines
- Low, and no, down payment requirements
Jumbo Mortgage
We provide jumbo mortgages and unlike many mortgage lenders, our loans are offered with competitive rates. Click here for current rates
Reverse Mortgages
If you are 62 years of age or older and want to use the equity you have accumulated in your home without the burden of monthly mortgage payments, a reverse mortgage may be the answer for you. Our reverse mortgage programs offer the following features:
- Government insured
- No mortgage payments as long as the property is your primary residence
- Knowledgeable staff to help in choosing the option that is right for you
- Competitive rates and fees
