- Fixed cost each month that doesn't vary…no surprises!
- Interest rate fixed for life of loan
- Low closing costs
- Variety of options to fit your personal circumstances
- Great for those staying put!
* Other terms and conditions may apply
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Homes are major investments, often the biggest you’ll ever make. Whether you’re buying , building or perhaps tapping into the equity of your current home – Litchfield Bancorp - A Division of Northwest Community Bank has affordable and easy ways to get you the financing dollars you need.
Our secret sauce? You work directly with decision makers. No red tape, no hassles. We are the small bank with the BIG Customer Experience. In our world, Every Customer really does Count!
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- Low fixed rate for several years at beginning of term
- Significant savings in lower interest rate environments
- Low closing costs
- Variety of options to fit your personal circumstances
- Great for those with a shorter ownership horizon!
* Other terms and conditions may apply
- Fixed rate that automatically rolls into long-term fixed-rate mortgage
- Only one closing, saving you time and money
- Can include financing of land (application fees waived!)
- Variety of options to fit your personal circumstances
- Great for building your dream house!
* Other terms and conditions may apply
- Low fixed rate options
- Interest rate reduction when using direct debit from Litchfield Bancorp - A Division of Northwest Community Bank checking account
- Variety of options to fit your personal circumstances
- Great for home improvements and college costs!
* Other terms and conditions may apply
- Low variable rate options
- Rate reduction when paying off high interest debt like credit cards and auto loans at closing
- Interest only payments during 10-year draw period
- Variety of options to fit your personal circumstances
- Great for emergency fund and peace of mind!
* Other terms and conditions may apply
- Low fixed rate for 5 years; variable rate thereafter
- Lower rates and low closing costs
- Personal service from mortgage specialist with expertise in working with first-time buyers
- Great for those entering the market!
* Other terms and conditions may apply
We are pleased to announce that FHLBank Boston has adjusted HOW in an effort to help homebuyers facing the current competitive real estate market. Eligible homebuyers can now receive up to $15,000 in down payment assistance.
The Housing Our Workforce (HOW) Program available through Northwest Community Bank is funded by the Federal Home Loan Bank of Boston (FHLBank Boston). Eligible homebuyers are now be able to receive a 1.5-to-1 matching grant of the borrower's down payment up to $15,000 on applications submitted July 1st and later.
For example, if a borrower puts down $10,000 they can receive $15,000.
Eligibility and Requirements:
- Households must earn more than 80% and up to 120% of the area median income (AMI).
- 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, 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
Grant funds of up to $15,000 towards down payment and closing costs may be available for Qualified First-time Buyers
The Equity Builder Program (EBP) available through Northwest Community Bank provides funding up to $15,000 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.
- 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