Mortgage Products

Affordable Housing Program | First Time Home Buyers Mortgages | MassHousing Finance Agency Programs | Rhode Island Programs | Construction Permanent Mortgages | Residential Land Mortgages | Jumbo Mortgages

Affordable Housing Program

The Bank's Affordable Housing Program (AHP) is available to low- and moderate-income individual(s) who have not owned a principal residence within the past three years and wish to purchase a one-four family primary residence within target areas of Massachusetts and Rhode Island.

Affordable Housing Program Features:

• A fixed or an adjustable rate mortgage loan
• Lower down payment requirements
• Discounted PMI required
• Closing costs assistance available
• HUD (U.S. Department of Housing & Urban Development) approved Home Ownership Counseling Program required

For more information on HUD income limits, click here.

Approved housing agencies such as Pro-Home Inc. and Neighborhood Housing Services of the South Shore along with other HUD approved counseling agencies can provide the First Time Homebuyer training. For a list of HUD and MassHousing approved counseling providers please refer to the Massachusetts Housing Finance Administration website at MassHousing.

For a list of upcoming class schedules from Pro-Home please select the appropriate link below:

Pre-Purchase Class Schedule, click here 

Post Purchase Class Schedule, click here 

First Time Home Buyers Mortgages

A First Time Home Buyers mortgage is offered to individuals who have not owned a primary residence within the past three years. This program is for one-to-four-family owner-occupied properties in Massachusetts and Rhode Island.

MassHousing Finance Agency Programs

These programs are offered in cooperation with MassHousing Finance Agency for purchases with low down payment and discounted private mortgage insurance (PMI). If you are looking to purchase a home in need of major repair, the Purchase and Rehabilitation Mortgage loan may be the program for you with financing available up to 97% of purchase price and improvements. This is available to Municipal Employees regardless of previous homeownership. For more information please contact a Mortgage Consultant in your area or www.masshousing.com.

Rhode Island Programs

Bristol County Savings Bank in conjunction with Rhode Island Housing offers mortgages at discounted rates for owner occupied properties in RI. For more information please contact a Mortgage Consultant in your area or Rhode Island Housing.

Construction Permanent Mortgages

This mortgage is offered to individuals constructing a property for their primary or secondary residence. A construction period of up to twelve months is allowed and funds are released based on a construction schedule.

Features:

• Interest only payments on amount of money disbursed during the construction period
• One closing for the construction and permanent financing
• A percentage of land value is released at closing.
• Financing with or without Private Mortgage Insurance is available based on loan-to
  value (LTV)
• Financing available for modular homes. For information on a modular home
  dealership, you can click here to view a list in our area.
  For more information on construction loans please contact a Mortgage Consultant in your area.

Residential Land Mortgages

If you are not ready to build a home today, you can finance just the land. Bristol County Savings Bank offers several residential lot loan programs to assist you in obtaining financing. For more information please contact a Mortgage Consultant in your area.

Jumbo Mortgages

The Jumbo mortgage is for mortgages over the Fannie Mae conventional mortgage limit guidelines. Jumbo products are available with either fixed or adjustable rates. For rates and terms on Jumbo products, please contact a Mortgage Consultant in your area for details.

If you would like more information, please click here.