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Mortgages

Spencer offers a wide array of mortgage products to meet all your borrowing needs. Our mortgage experts take the time to get to know you and your needs so we can match you with the right mortgage for your unique situation. Whether you’re looking to buy a new home, build that dream home you’ve always wanted, or simply save more money by refinancing your current mortgage, Spencer has the right loan for you.

The following NMLS Consumer Access website will provide you with NMLS numbers for all Spencer lenders. Spencer Savings Bank’s NMLS number is 421318. Please view our Mortgage Servicing Notice for Error & Information Requests.

Loan Types Terms Eligible Properties Loan Features

Fixed Rate Mortgage

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10 Years,
15 Years,
20 Years,
30 Years
  • Owner-Occupied (1-4 Family)
  • Investment Properties
  • Fixed Monthly Payments
  • Stability, Predictability and Easy Budgeting

Adjustable Rate Mortgage (ARM)

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1/1, 3/1, 3/3, 5/1, 5/5, 7/1, 10/1 ARMs
  • Owner-Occupied (1-4 Family)
  • Investment Properties
  • Variable Interest Rate
  • Lower Rates
  • Annual/Lifetime Cap on Interest Rate Adjustments

Jumbo Mortgage

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All Fixed and ARM Terms
  • Owner-Occupied (1-4 Family)
  • Investment Properties
  • More Borrowing Power
  • Flexible Qualifying Ratios
  • Loan Amounts up to $2 Million

Business Entity Mortgage

All Fixed and ARM Terms
  • 1-4 Family
  • Investment Properties
  • No Prepayment Penalty
  • Borrow up to $1,000,000
  • Achieve Investment Goals

Community Worker Mortgage

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All Fixed and ARM Terms
  • Owner-Occupied (1-2 Family)
  • Rate Discounts
  • No Application Fee
  • 10% Down w/No PMI

First Time Homebuyer Mortgage

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All Fixed and ARM Terms
  • Owner-Occupied (1-2 Family)
  • Half of Application Fee Waived
  • 10% Down w/No PMI
  • Relaxed Qualifying Standards
  • 15 % Down On Condos w/ No PMI

HomeHelper Mortgage

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All Fixed and ARM Terms
  • Owner-Occupied (1-2 Family)
  • Discounted Loan Rates
  • No Application Fee
  • 10% Down w/No PMI
  • 15% Down On Condos w/ No PMI

Home Enhancer Mortgage

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All Fixed and ARM Terms
  • Owner-Occupied (1-4 Family)
  • Investment Properties
  • Borrow up to 30% of Improved Value
  • Option to Roll Construction Fees into Mortgage Loan

Neighborhood Mortgage

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All Fixed and ARM Terms
  • Owner-Occupied (1-4 Family)
  • Investment Properties
  • Discounted Loan Rates
  • No Application Fee
  • 10% Down w/No PMI

Closing Assistance

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1-10 Year Fixed Terms
  • Owner-Occupied (1-4 Family)
  • Discounted Loan Rates
  • No Application Fee
  • Relaxed Qualifying Standards