Fidelity Bank -- Letters from the President

Yes, it is true that mortgage rates have bumped up a bit from their historic lows of just a few short months ago. And some homebuyers have discovered that even this slight increase in rates is affecting their ability to buy a home. Which is why I thought you might be interested to hear about our new “Transformer Mortgage.” Basically, it’s a tremendous way to maximize your buying power. And there’s no doubt in my mind that the “Transformer” is the mortgage to look at right now, whether you plan to stay in that house a few years or forever. Here’s how it works: The rate is fixed for the first three or five years – your choice! Which means if you plan to move sooner, you get a great low rate now and then you’re out of there. It couldn’t be more flexible. On the other hand, if you plan to stay in that house forever, when rates go down (and sooner or later, they will), you can convert to a fixed rate loan with one phone call. Basically, it’s like getting to refinance free. And with our Transformer RateLock, the initial rate can’t go up after application … but it can go down if rates are lower on the 3^rd day before closing. Homebuyers tell us they never dreamed something like this existed. It does – and it’s a “win-win.” Like to know more? Call our expert mortgage originators Lisa Arcangeli at 978-343-2017 or Linda Hietala at 978-343-2004.

Edward F. Manzi, Jr.
President

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