At Salem Five, we offer competitive mortgage rates in Massachusetts, helping generations of New England homeowners secure the financing they need. Our expert loan officers and state-of-the-art technology make the process fast, easy, and efficient, so you can focus on finding the perfect home for your family. As the leading Massachusetts bank in home financing, we’re ready to put our experience to work for you. Whether you're a first-time buyer or looking to refinance, Salem Five is here to help. Ready to make your move? Explore our current mortgage rates in Massachusetts, download our mobile app to use our mortgage calculators, or browse the topics below to get started.
Fixed and Adjustable Rates
Salem Five offers both conventional fixed rate mortgages and adjustable rate mortgages. Our portfolio of lending options available ensures you’ll be able to find the right term, rate, and loan for your home purchase. We work tirelessly to find the product that works best for your individual needs. Let's bring your mortgage home
For over 160 years, we've helped home buyers find the right loan to fit their needs. You could pre-qualify for one of our many loan options to get you in your new home even quicker. We close loans in 30 days!
Conventional fixed-rate loans
With a fixed rate mortgage, your principal and interest payments stay the same for the life of the loan.
Adjustable-rate mortgage
Adjustable rate mortgages (ARM), also known as variable rate mortgages, have varying terms to maturity where your interest rate and monthly principal and interest payments remain fixed for the initial pre-determined period of time, once the fixed period expires the interest rate adjusts annually based on a rate index.
Whether you want to lower your monthly payment, shorten your term or take cash out, sometimes replacing your current mortgage with a new one makes sense.
Whether you're building a brand-new home, including modular construction, or restoring that fixer-upper, you'll find a wide array of mortgage and loan options at Salem Five.
A VA mortgage provides home financing guaranteed by the U.S. Department of Veteran Affairs for qualified veterans, reservists, active duty personnel, or eligible family members. Low down payment options are available.
Since 1855 we have been focused on making life better, one family at a time. Whether it’s a reverse mortgage, home improvement, or retirement plan; Salem Five has you covered!
Reverse Mortgage
A Reverse Mortgage, or home equity conversion mortgage (HECM), is a federally regulated loan available to homeowners 62 and older in which the bank makes payments to the borrower on your home equity percentage. Contact our qualified reverse mortgage specialist today.
For buyers with modest incomes that may need some help making long-term homeownership a reality, we are an approved participating lender with Mass Housing and New Hampshire Housing.
Understanding the Massachusetts Mortgage Market
The Massachusetts mortgage market is influenced by a range of local factors. Whether you're buying in Boston or beyond, understanding these dynamics can help you secure the best possible mortgage rates in Massachusetts. Salem Five’s local expertise ensures we can guide you every step of the way to find the right loan and the best rate for your home.Factors Affecting Mortgage Rates in Massachusetts
The cost of borrowing can fluctuate based on a variety of conditions. Here’s what affects mortgage rates in Massachusetts:Regional Market Conditions
Local real estate trends, housing demand, and available inventory in Massachusetts play a major role in shaping Massachusetts mortgage rates. Areas with strong housing markets can see higher rates due to increased demand.Economic Indicators
National and state-level economic factors like inflation, interest rates set by the Federal Reserve, and employment data also impact Massachusetts mortgage rates. Understanding these trends can help you decide when to lock in the best current mortgage rates in Massachusetts.Ready to Explore Your options?
Now that you understand the factors influencing mortgage rates in Massachusetts, let Salem Five guide you to the best rates and terms available. View our current Massachusetts mortgage rates, speak with one of our expert loan officers, or apply for a mortgage today to get started.Haga clic aquí si desea consultar con alguien en Espanol acerca de opciones de Hipoteca.
Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.