Mortgages & Home Equity Loans

Litchfield Bancorp - A Division of Northwest Community Bank Mortgage & Home Equity Loans

Purchasing a home is a major event. If you’re buying your first home, upsizing, downsizing or financing a vacation home, Litchfield Bancorp – A Division of Northwest Community Bank has loan options for you. We make the process as smooth and convenient as possible. You work directly with decision-makers. We listen, look at the big picture—and consider much more than your credit report.

Mortgages & Home Equity Loans

From first and second mortgages to home equity lines of credit, we can assist you in making the choices that are most beneficial to you.

Fixed Rate Mortgages

Our traditional 10-, 15-, 20-, and 30-year loans are great options.

Features include:

  • Same payment every month
  • Interest rate fixed for life of loan
  • Options to fit your needs

* Other terms and conditions may apply. Subject to credit approval.

Contact Us  |  View Our Rates  |  Apply Now

Adjustable Rate Mortgages

Lower interest rates at the beginning of these loans make these mortgages affordable and convenient.

Features include:

  • Low rate at beginning of term
  • Fixed rate at beginning of term, variable rate thereafter
  • Options to fit your needs

* Other terms and conditions may apply. Subject to credit approval.

Contact Us  |  View Our Rates  |  Apply Now

Home Equity Loans

Whether you would like to remodel your home, finance a college education or take that dream vacation, tapping into the equity in your home can help you implement your plans.

Features include:

  • Fixed rate options
  • Options to fit your needs
  • Available on owner-occupied, one to four family homes

* Other terms and conditions may apply. Subject to credit approval.

Contact Us  |  View Our Rates  |  Apply Now

Home Equity Lines of Credit (HELOC)

With a Litchfield Bancorp – A Division of Northwest Community Bank Home Equity Line of Credit you’re able to utilize the equity in your home.

A HELOC requires interest-only payments during a 10-year period.

Features include:

  • Revolving line of credit
  • Variable rate options
  • Interest only during the first 10 years
  • Options to fit your needs

* Other terms and conditions may apply. Subject to credit approval.

Contact Us  |  View Our Rates  |  Apply Now

First-Time Homebuyer Mortgage

We have the keys to home ownership.

Features include:

  • Fixed and variable rate options
  • Lower rates and low closing costs
  • Limited special programs available
  • Appraisal fee waived
  • Personal service from a mortgage specialist with expertise in working with first-time buyers

* Other terms and conditions may apply. Subject to credit approval.

Contact Us  |  View Our Rates  |  Apply Now

Refinance Mortgages

Refinancing your current mortgage is ideal for saving money and accessing equity.

Depending on your current interest rate, your savings over the term of the loan could be significant.

Here’s how:

  • See what cash out options are available
  • Lower your interest rate
  • Lengthen or shorten term on an existing loan
  • Choose from Fixed and ARM options

* Other terms and conditions may apply. Subject to credit approval.

Contact Us  |  View Our Rates  |  Apply Now

Land Loans

When you’re thinking of building a new home, deciding about the kind of home you like, you want to find just the right place to build it.

A land loan helps you purchase the site for your future home. A Litchfield Bancorp – A Division of Northwest Community Bank land loan offers:

  • 1 year fixed rate with variable rate thereafter
  • Interest rate caps at 2% per review and 18% lifetime
  • Interest rate adjustments cap at 2% annually and a 6% lifetime cap over original rate

* Other terms and conditions may apply. Subject to credit approval.

Contact Us  |  View Our Rates  |  Apply Now

Construction to Permanent Loans

Perfect for building and financing your new home.

One loan with two stages—for when you find that perfect property and want to build your dream home. We make the process easy, so you can make your financial plans and focus on settling in.

Features include:

  • Construction funding and permanent funding in one loan
  • Interest-only payments for up to 18 months during construction
  • Fixed, ARM, and jumbo options
  • Lock into long-term financing up front
  • Up to 90% Loan to Value financing with Private Mortgage Insurance for qualified borrowers

Please contact Jennifer Ives-Groebl (NMLS MLO#532621), Vice President, Mortgage Loan Officer at (860) 393-9145 to discuss construction loan interest rates and options.

* Other terms and conditions may apply. Subject to credit approval.

Jumbo Loans

Our traditional Jumbo 10-, 15-, 20-, and 30-year loans are perfect for the homebuyer looking to finance their dream home or existing homeowner looking to consolidate debts.

Features include:

  • Fixed rate and adjustable rate products
  • Up to 90% Loan to Value financing with Private Mortgage Insurance for qualified borrowers
  • Options to fit your needs

Please contact Jennifer Ives-Groebl (NMLS MLO#532621), Vice President, Mortgage Loan Officer at (860) 393-9145 to discuss Jumbo loan interest rates and options.

* Other terms and conditions may apply. Subject to credit approval.

Housing Our Workforce (HOW) Program

Eligible homebuyers can receive up to $20,000 in down payment assistance.

The Housing Our Workforce (HOW) Program available through Litchfield Bancorp – A Division of Northwest Community Bank is funded by the Federal Home Loan Bank of Boston (FHLBank Boston). Eligible homebuyers are now be able to receive a 2-to-1 matching grant of the borrower’s down payment up to $20,000 on applications submitted.

For example, if a borrower puts down $10,000 they can receive $20,000.

Eligibility and Requirements:

  • Households must earn more than 80% and up to 120% of the area median income (AMI).
  • First-time homebuyers must complete a homebuyer-counseling course administered by an experienced homeownership counseling agency.
  • Property must be an owner-occupied primary residence.
  • No repayment required after five years.

The number of available grants is limited and awarded on a first-come, first-served basis. Contact our mortgage lenders for more information and to see if you qualify.

This program is similar to the Equity Builder Program (EBP), but with higher income limits, purchase price limits, and a singular focus on down payment assistance. Compare How Program to Equity Builder Program.

* Other terms and conditions may apply. Subject to credit approval.

Equity Builder Program (EBP)

Grant funds of up to $22,000 towards down payment and closing costs may be available for Qualified First-time Buyers

The Equity Builder Program (EBP) available through Litchfield Bancorp – A Division of Northwest Community Bank provides funding up to $22,000 per property that can be used for down-payment assistance, customary closing costs (including single premium PMI), home-buyer-counseling costs not covered by another funding source.

Eligibility and Requirements:

  • Households must earn no more than 80 percent of the median income, adjusted for family size, for Hartford or Litchfield County, depending on the location of the new home.
  • First-time homebuyers must complete a homebuyer-counseling course administered by an experienced homeownership counseling agency.
  • Borrowers must be first-time home-buyers.
  • Property must be an owner-occupied primary residence.
  • No repayment required after five years.

This program is similar to the Housing Our Workforce (HOW) Program, but with lower income limits and more allowable uses of grant funds. Compare How Program to Equity Builder Program.

* Other terms and conditions may apply. Subject to credit approval.