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At Cambridge Trust, we retain the servicing of your loan, for the life of your loan. If you
have a question or problem, even years after closing, we will be there with the answers – and the same
personalized service you received during the application process. That’s peace of mind.
The mortgage that’s right for you.
Whatever your needs or your budget, Cambridge Trust will help you find the mortgage that's
right for you. Our fixed, adjustable, and jumbo mortgages offer you competitive rates, flexible terms, and personal
service from application through the life of your loan.
Pre-Approval
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.
Fixed-Rate Mortgages
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.
Adjustable-Rate Mortgages
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 mortgages (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.
Low Down Payment Option
Our combination financing allows you to reduce your down payment requirement to as little as 10% with a first mortgage and home equity line for up to 90% of your property’s value in a single application.
Jumbo
Mortgages
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.
Refinancing Options
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 Commonwealth of Massachusetts, and the City of Cambridge, 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 in Cambridge, Massachusetts.
Disclosures
* 3/3 ARM adjusts every three years
* Generally speaking, our lending area is restricted
to within a 50-mile radius of each of our branch locations.
However, for individual consideration, please contact
us.
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