Low Down Payment Mortgages
With our low down payment mortgage options, you have the flexibility to put as little as 5% down on 20- and 30-year fixed rate mortgages.*
If you are shopping for a new home, a mortgage pre-approval can save time and give you an advantage when you make an offer to purchase. To learn how we can help you, email or call Sal Sagarese at
617-441-1406 or visit one of our branches for assistance.
Fixed-rate mortgages can be ideal if you expect to own the property for many years. A fixed-rate mortgage holds the interest rate and monthly payment constant for the life of your loan so you always know exactly what your monthly payments will be.
If you do not plan on staying in your home for a long period of time or need flexibility to meet your current financial situation, you may want to consider an adjustable-rate mortgage (ARM). With this option, you can take advantage of a fixed interest rate for a shorter period of time. After the initial period ends, the rate is adjusted every year, but will never exceed a pre-determined rate cap.
Jumbo mortgages are available for customers who want a higher loan amount (more than $417,000) at competitive rates. Jumbo financing options include fixed- and adjustable-rate mortgages, with a range of terms to accommodate immediate and long-term financial plans.
If you want to refinance your existing mortgage — to reduce your interest rate or term, or tap into the equity in your home — we have several options available. There is no prepayment penalty for Cambridge Trust mortgage customers. Down the road if the time is right to refinance, we're there for you.
First Time Buyers Program
Offered in cooperation with the Massachusetts Housing Partnership Fund, the Cambridge Trust First Time Home Buyers program is for first time home buyers who have income within certain limits and would otherwise have difficulty qualifying for a mortgage. This program is limited to owner-occupied, 1-3 family houses, and condominiums. Click here to check current rates.