Buying your home sweet home
We know that home ownership is a dream for many of our neighbors. We also know that buying a home is a pretty intimidating process – there’s so much information, so much stuff to learn. At Randolph Savings Bank, our professional lending staff takes the time to help you eliminate the worry associated with the mortgage process.
Randolph Savings Bank can offer a solution for every situation. Are you a first-time home buyer with dreams of your first home? Looking for a home with more room to accommodate your growing family? Maybe you’re looking for ways to pay off your home even sooner than you’d originally planned and hoping to find a lower interest rate. No matter your mortgage needs, our lending team can help make your dreams of home ownership a reality.
We know that everyone’s situation is unique. That’s why we make the process easy to understand by presenting information via state-of-the-art analysis tools – so you can make the decision that is right for you.
What makes a community bank unique? It’s simple, really: local decision making. Rates, loan products, programs – they’re important, and we provide a great value to our customers. But the big difference when it comes to your loan is the service and expertise of our local lending team. All of our loan products are originated, processed, and underwritten by our own specially-trained local staff –in your market, at your bank. And because we service the vast majority of the loans we originate, you can expect the same personalized attention and efficient service even after you close your loan. If you find you still have questions after you close, you can turn to the same trusted bankers, right near the town you call home.
Want to get started? You can easily apply online, over the phone, or you can call us to schedule an in-person meeting with one of our experienced loan originators.
What are you looking for?
Discounts and other tools to find the right house with the right loan
If you’re a first-time homebuyer and meet income eligibility guidelines, you may be eligible for up to $15,000 in grant money to help with your down payment or your closing costs through our partnership with the Federal Home Loan Bank.
Depending on the size of the loan, anyone purchasing a new home may be eligible for up to $1,000 in closing costs credit.
Low Down Payment Options
Don’t have a lot of money to put down on a home? At Randolph Savings Bank, we offer a variety of affordable fixed- or adjustable-rate mortgage products that, depending on your situation, could provide up to 100% financing (certain income restrictions and other guidelines may apply). Is an option like this right for you? Call us to review your specific situation.
We work with many partners to provide high-quality, affordable products, including: USDA, MassHousing and the Federal Housing Authority (FHA).
Putting less than 20% down? We also offer conventional mortgage products with private mortgage insurance. You can choose to pay the premium one time up front, or pay it monthly along with your mortgage payment instead.
JUMBO Loans & Other Portfolio Products
Are you looking for a large loan above the conventional loan limit of $417,000? Does your property have unique characteristics that may not fit the traditional profile? At Randolph, we pride ourselves on having a suite of products that can help you get the loan that is best-suited for your borrowing needs.
Building your dream home? While we can’t make it any easier to pick out your kitchen cabinets, we can take the guesswork out of the borrowing process with our Construction Loan Program. One closing and our team will be with you every step of the way until your new home is complete.
Traditional Loan Options
Adjustable-Rate Mortgage (ARM)
A mortgage with an interest rate that changes during the life of the loan according to movements in an index rate. These loans are sometimes called AMLs (adjustable mortgage loans) or VRMs (variable-rate mortgages). Terms are available up to 30 years (click here for more information).
Fixed-Rate Mortgage (FRM)
A fully amortizing mortgage loan where the interest rate on the note remains the same throughout the term of the loan. Payment amounts and the term of the loan are fixed and we offer terms up to 30 years (click here for more information).