Cambridgeport Bank has Loan
Specialists who will be happy to review your specific financing needs, discuss
the various borrowing strategies and the options available for each loan program.
Cambridgeport Bank offers financing for primary residences of 1-4 units, second
homes and investment properties.
You may choose to have your
application taken directly over the phone or schedule a face to face appointment
to meet with a Mortgage Consultant in person, to contact a Mortgage Specialist
today Call 1-800-731-4900
Time Home Buyers Program's (FTHB):
Cambridgeport Bank offers
many different FTHB programs offering the home buyer a wide variety of advantages.
Which may include: Interest rate, reduced closing costs, payment subsidies, lower
down payment options or flexible underwriting guidelines.
Rate Mortgage Programs
A fixed rate mortgage is
a loan with a rate that is fixed for the entire term of the loan. Fixed rate programs
are available for both conforming and jumbo loan amounts.
Rate Mortgage Programs:
Adjustable Rate Mortgage
Loans or ARM's, are loan programs that offer the borrower a fixed rate for a limited
period of time. ARM's do offer adjustment caps for both individual adjustments
and for the life of the loan and are ideal for borrowers who either; plan on keeping
their loan from 3-7 years and think interest rates will drop at some time in the
future, or want a lower monthly payment than compared to a fixed rate loan.
Mortgage is a special refinance program offered to customers who are looking
for a quick, low cost, fixed rate mortgage. With the Express Mortgage you can
apply over the phone, be approved in 24 hours and close the loan within 3 weeks.
A jumbo loan is one that
exceeds a Loan amount of $252,700 for a single family home. Cambridgeport Bank
has jumbo loan programs available for loans up to $1,000,000 or more.
Cambridgeport Bank offers
borrowers with complex income, or a history of self-employment, a no income verification
program. Borrowers must meet certain credit and asset requirements. This program
is available for both primary and secondary homes.
/ Rehab Loan "Dream Builder"
For those borrowers looking
to construct a new home or rehabilitate an existing one Cambridgeport Bank offers
a One Step Construction Loan program. With this program you can first take ownership
of the land or existing home and then fund the work, all with one closing and
one set of closing costs. Once the work is completed, the loan automatically rolls
over into a permanent loan.
A Blended mortgage program
is a program that utilizes both a first and a second mortgage.It can be an alternative
to obtaining insurance or a method to obtain cost effective financing for certain
Non-Conforming Loan Programs
are available to those borrowers who are requesting a mortgage loan but are not
able to meet the standard requirements that most mortgage programs follow. Examples
of such requests are: Impaired credit loans, reduced down payment requirements
for investment or multifamily homes, and cash out refinances on investment property.
For A Mortgage Today
At Cambridgeport Bank you
can apply for a mortgage in the way that is most convenient for you: over the
phone, at one of our branch locations or the convenience
of your home or office.
Cambridgeport Bank has experienced
professionals that are available to review your individual needs. They possess
expert knowledge in Cambridgeport Bank's mortgage products, pricing and effective
ways to reduce your costs, You may choose to have your application taken directly
over the phone or schedule an appointment to meet with a Mortgage Consultant in
to speak with a Loan Specialist today to discuss your mortgage options. Cambridgeport
Bank Loan Specialists are available Monday - Friday 8:00 A.M. - 5:15 P.M. Mortgage
Consultants are available for a personal appointment in the evenings or on weekends
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