See if what we offer is right for you

Fixed-Rate Mortgage

  • Interest rate never changes over the life of the loan, so your mortgage payment will stay the same.  (Keep in mind your property taxes and home insurance could go up during term of loan).
  • Ideal if you plan to stay in home for a good number of years, or if income will remain level over time.
  • Provides peace of mind with fixed payment and makes budgeting easier.
  • Available for refinance or purchase of a 1-4 family home including condominiums for primary or second home, and investment properties.

Adjustable Rate Mortgage (ARM)

  • Combines an initial fixed rate period with annual adjustments possible over time thereafter.  
  • Typically offers a lower interest rate and payment initially thus increasing your buying power to afford a higher priced home.
  • Ideal if you plan to sell or pay-off your loan after only a few years (up to 10 years), or if your income increases over time.
  • Available for refinance or purchase of a 1-4 family home including condominiums for primary or second home, and investment properties.

Jumbo Mortgages

  • Allows for a higher mortgage amount than conventional financing enabling qualified buyers and homeowners to purchase or refinance higher priced homes.
  • Loan amounts up to $2 Million.
  • Fixed and Adjustable rate options.
  • Available for 1-4 family home including condominiums for primary or second home, and investment properties.

Federal Housing Administration Mortgages (FHA)

  • The Federal Housing Administration (FHA), is a government agency, insured mortgage.
  • FHA fixed rate term mortgages offer a low down payment thus minimal up-front money needed; and  flexibility with credit and underwriting requirements.
  • Loan amounts up to FHA loan limits by County where property is located.
  • Available for purchase or refinance of 1-4 family and approved condominiums for primary residence homes.

Veteran Affairs Mortgages (VA)

  • A mortgage loan guaranteed by the US Department of Veteran Affairs designed to offer long term financing to eligible American veterans or their surviving spouses. 
  • VA mortgage requires no down payment resulting in minimal upfront out-of-pocket cost.  No monthly mortgage insurance premiums resulting in greater buying power. Less stringent rules for qualifying to help eligible veteran or surviving spouse purchase or refinance a home.
  • Available for primary residence 1-4 family homes and approved condominiums.

State Bond Agency Mortgage Programs

  • A variety of home loans are available in Connecticut and Massachusetts at below-market or competitive interest rates, with low down payment requirements or down payment assistance available for income eligible first-time homeowners. 
  • Programs offered include Connecticut Housing Finance Authority (CHFA).
  • Mass Housing and MHP One Mortgage.

USDA –Rural Development Mortgages (RD)

  • Rural Development mortgages assist low to moderate income home buyers purchase homes with 100% financing in rural communities to encourage home ownership and economic development.   
  • Rural Development fixed rate mortgages require no down payment thus reducing up-front out-of-pocket expenses.  And offer low monthly mortgage insurance premiums helping to increase buying power and keep monthly expenses more affordable.
  • Available for primary residence single family or approved condominiums.

Mortgage products are provided by Berkshire Bank: Member FDIC. Equal Housing Lender. Berkshire Bank is a Massachusetts chartered bank.  All applications must be submitted in writing. This advertisement is not a loan disclosure and all disclosures provided after applying should be reviewed carefully. This is not a commitment to provide a loan approval or a specific interest rate. Berkshire Bank is not an Agency of the Federal Government.

All lending products are subject to credit and property approval. Products are not available in all states. Certain conditions and restrictions apply. Refinancing to reduce total monthly payments may lengthen repayment term or increase total interest expense compared with your current situation.

Berkshire Bank NMLS 506896.  All rights reserved. 

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