Low Down Payment Mortgages
With a variety of mortgage options, you have the flexibility of making a low down payment on our fixed rate mortgages. To learn how we can help you, call Sal Sagarese at 617-441-1406, email, or visit one of our branches for assistance.
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. Apply online for free and one of our mortgage originators will follow up with you to review your pre-approval and answer any questions you may have. To learn how we can help you, call Sal Sagarese at 617-441-1406, email, 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 predetermined rate cap.
Jumbo and super-size mortgages are available for customers with a higher loan amount at competitive rates. Financing options for jumbo and super-size mortgages 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
In cooperation with multiple programs, including the Massachusetts Housing Finance Agency, we offer different options for first time home buyers whose income is within certain limits and would otherwise have difficulty qualifying for a mortgage. Participants may be eligible for lower down payments and will always have access to our experienced bankers. This program is limited to owner-occupied, 1-4 family houses, and condominiums.
VA loans allow veterans and active-duty service members to purchase a home with up to 100% financing and cash out. Backed by the Department of Veterans Affairs, Cambridge Trust Company is proud to honor service members by making homeownership easier. To learn more about the benefits and eligibility requirements, call Sal Sagarese at 617-441-1406, email, or stop by a branch for more information.
Our interest-only products are a great option for both purchases and refinancing, offering competitive rates. To find out if an interest-only loan is right for you, call Sal Sagarese at 617-441-1406, email, or stop by a branch.
Non-Owner Occupied Properties
Have non-owner occupied properties? Our Investment Property Programs offer competitive rates for both conforming and nonconforming products. Call Sal Sagarese at 617-441-1406, email, or stop by a branch for more information.
Use our home financing calculators to help you make the right borrowing decisions. Whether you’re considering purchasing your first home or determining if it’s time refinance, there’s a calculator to help. And if you have any questions, our lending professionals are here to give you expert advice and guide you through every step of the process.