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  Coronavirus Update

Spencer Savings Bank is committed to the safety, health and well-being of its customers and employees. Read More

Spencer Savings Bank is committed to the safety, health and well-being of its customers and employees. As the country continues to deal with the impact of the Coronavirus (COVID-19), we want to take a moment to assure the community that we are closely monitoring the situation which is continuously evolving.

In response to the latest situation regarding this public health crisis, we are temporarily modifying how we conduct business at our financial centers to help minimize the potential spread of the virus. Effective Monday, March 30, 2020, we will be providing lobby service in our financial centers by appointment only. To make an appointment, please call the financial center between the hours of 9:00am – 5:00pm, Monday – Friday and 9:00am – 1:00pm on Saturday. Financial centers with a drive-up facility will continue to operate as usual during the same hours listed above, Monday- Saturday. In the best interest of the public health, if you need to process a teller transaction and your financial center has a drive-up facility, we are asking you to process all teller transactions at the drive-up only. Please know that every effort is being taken to ensure that the bank is able to meet all of your needs while we continue to follow the recommendations from the health authorities.

In addition to taking extra precautions to maintain the cleanliness of our bank locations, we continue to update and educate employees on virus information, as well as reduce employee contact. Please know that the bank has a Pandemic Plan in place with procedures and guidelines for the staff to follow to continue with all business activity.

We would like to take this opportunity to remind customers that most banking transactions do not require a visit to an office. Spencer offers a variety of ways to access your accounts and manage your money without having to visit a financial center. Banking can continue from the comfort of your own home. Most transactions can be handled with a call to our Customer Service Center, with your mobile device, online or at an ATM. Many locations also offer drive through features. All of these options reduce public interaction for both the customer and employee. If you want to explore any of these options, please call your local financial center or our Customer Service Center at 1-800-363-8115.

We also urge all customers to be extra vigilant during this time as there are increased incidents of fraud surrounding the virus announcement. The FDIC has released educational articles regarding this topic with more information.

This is a fluid and evolving situation. We will continue to update you with any new information that becomes available. Our customers are the heart of our business. Thank you for giving us the opportunity to continue to serve you. Together, we will all take the necessary precautions to successfully manage through this difficult time.

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.

Ready to apply for a Spencer Mortgage? For your convenience, you can now apply online from any device that you prefer- desktop, tablet, or smartphone!

Loan Types Terms Eligible Properties Loan Features

Business Entity (LLC) Mortgage

Inquire Online

All Fixed and ARM Terms
  • 1-4 Family Homes & Mixed-Use Properties up to 4 Units
  • Investment Properties
  • No Prepayment Penalty
  • Borrow up to $3,000,000
  • Achieve Investment Goals

Investment Property Mortgage

Apply Now

All Fixed and ARM Terms
  • 1-4 Family Homes
  • Investment Properties
  • No Prepayment Penalty
  • Borrow up to $3,000,000
  • Achieve Investment Goals

Fixed Rate Mortgage

Apply Now

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)

Apply Now

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

Apply Now

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

Community Worker Mortgage

Apply Now

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

First Time Homebuyer Mortgage

Apply Now

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

Apply Now

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

Apply Now

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

Apply Now

All Fixed and ARM Terms
  • Owner-Occupied (1-4 Family)
  • Investment Properties
  • Discounted Loan Rates
  • No Application Fee
  • Owner-Occupied: 10% Down w/No PMI
  • Investment: 20% Down