Mortgage Specials

TAKE 1/8th OFF YOUR MORTGAGE RATE
Take 1/8th off your mortgage interest rate when you maintain an automatic payment withdrawal from a new or existing Wakefield Co-operative Bank checking account.

Check current rates
Apply now or contact a Mortgage Originator at 781-245-3890 or newbusiness@wcbbank.com.

*New loans only. May not be combined with any other offer. Must maintain an automatic monthly mortgage payment from a new or existing WCB checking account. Interest rate deduction applies to Fixed Rate and Adjustable Rate (ARM) Mortgages only. Checking account must be opened prior to loan closing. If automatic payment requirement is not fulfilled, your interest rate will increase 0.125%.

*Annual Percentage Rate (APR) assumes a $100,000 loan with a 20% down payment and does not include real estate taxes and insurance. Annual Percentage Rate (APR) on ARM loans may increase after consummation.

 

HOME EQUITY LINE OF CREDIT
1.99% APR* for first 12 months
5.25% APR* Prime Rate thereafter

Apply now or contact a Mortgage Originator at 781-245-3890 or newbusiness@wcbbank.com.

*Single family, owner-occupied, residential homes only. Introductory Annual Percentage Rate (APR) of 1.99% for the first 12 months (daily periodic rate of 0.00545%), followed by Wall Street Journal Prime Rate plus 0%, which was 5.25% (daily periodic rate of .01438%) as of 9/26/18. Maximum rate is 18% (daily periodic rate of .04932%), minimum interest rate is 5.25% (daily periodic rate of .01438%). Minimum draw of $10,000 at closing and minimum monthly payment is $100. 15 year draw period; 10 year repayment period. Maximum APR is 18%. 80% combined loan-to-value based on tax-assessed value. The minimum payments may not be sufficient to fully repay the principal that is outstanding on your line. If they are not, you will be required to pay the entire outstanding balance in a single payment and a balloon payment may result. Early termination fee will apply if Home Equity Line of Credit is closed during the first 24 months. This fee will be the greater of $500 or 1.00% of the amount of the line. $50 annual fee. Certain third party fees will apply and range from $200-$1,500.

 

$700 FIRST-TIME HOME BUYER CREDIT
Apply now or contact a Mortgage Originator at 781-245-3890 or newbusiness@wcbbank.com.

Up to $700 general Lender Credit will be applied to offset all or a portion of closing costs. Annual Percentage Rate (APR) assumes a $100,000 loan with a 20% down payment. Monthly payment on 30 Year Fixed Rate mortgage is 360 payments at $5.22 per $1,000 borrowed as of 12/11/18. Must be a new loan to the bank; credit available on first-time home buyer loans only. Loan must close within 60 days of application. Lender Credit cannot be combined with any other WCB offers and other terms and conditions may apply. Available for a limited time only.

 

FIXED JUMBO MORTGAGE
You may view the current Fixed Jumbo Mortgage rates here.

Apply now or contact a Mortgage Originator at 781-245-3890 or newbusiness@wcbbank.com.

Minimum loan amount is $453,101. Maximum loan amount is up to $1 million and dependent upon loan to value. Annual Percentage Rate (APR) calculation assumes a $500,000 loan with a 20% down payment. Available to owner occupied, primary residence, single family or condominium units in CRA communities only: Wakefield, Lynnfield, Reading, North Reading, Middleton, Peabody, Stoneham, Winchester, Medford, Everett, Malden, Melrose, Saugus, Lynn, Somerville, Arlington, Woburn, Burlington, Lexington, Bedford, Concord,  Belmont, Acton, Maynard and Sudbury Must be a new loan to the bank and used to purchase or refinance. Cash out available up to 80% loan to value. Borrower’s FICO score must be above 720 to qualify. Taxes, insurance, homeowner fees, and escrow account may be added to and increase monthly payment. Other terms and conditions may apply. Available for a limited time only