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Here's the problem:

You've been paying your mortgage for awhile, and have reduced your loan balance. You'd like to take advantage of today's low rates, but can't justify refinancing because the points and closing costs make it too expensive. Besides, most banks and mortgage companies don't offer the same service or products for smaller balances.

What's the solution?

Cambridgeport Bank's Express Mini Mortgage. It's a unique fixed rate loan for people who have balances from $25,000 to $250,000 and want to take advantage of today's low interest rates. The collateral for the loan can be an owner-occupied 1-4 family home or condominium, or a single family vacation home. Use it to refinance an existing mortgage, or to "cash out" equity from your primary residence (not available for purchase of new home or as second mortgage on existing home).


  • No points.
  • Interest Rate may be reduced if you choose to pay the legal fees.
  • Easy application process can be completed in 10 minutes over the telephone
  • No appraisal is required; real estate tax assessed valuations are used to determine property value.
  • Rate is fixed for entire term of the mortgage, so payments remain the same.
  • Loan closing is quick, within 4 weeks upon receipt of a completed application package.
  • You can pick your own payment due date.
  • Cambridgeport handles payment processing and servicing for the Express Mini Mortgage; no dealing with out-of-state mortgage servicers.
  • No real estate tax or hazard insurance escrows will be collected at closing-no extra out-of-pocket expenses.


To speed the processing of your Express Mini Mortgage application, use this checklist to be sure you include all of the following documents:

  • Completed Application
  • Real Estate Tax Bill
  • Copy of mortgage statement
  • Copy of deed
  • Copy of recent paystub and W-2
    or 1040 form for prior 2 years if self-employed


Once your loan is approved and all required items are received, you will be contacted to set a mutually convenient closing date. Your loan proceeds will be mailed three business days after the closing. You may request to pick it up at the bank, if you prefer. If you have any questions, you may contact us via E-mail or feel free to call us toll free at (800) 731-4900

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