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  Important Information
Financial Center Updates & Important Information Read More

Beginning Monday, March 15th the bank will resume full service status to our lobby areas with normal business hours. (No appointments are needed). Prior to visiting us, please check our “locations” section on the website for updated financial center accessibility. Financial Center Locations

We remain committed to do our part to ensure our community stays healthy during the COVID-19 pandemic. Spencer is creating a safe and secure environment for all who visit. Please take a few moments to review the safety protocols listed here prior to visiting us. Read More

We continue to stay committed to you during this difficult period.  View an updated message from our Chairman and CEO. Read More

Adjustable Rate Mortgage

A Spencer Adjustable Rate Mortgage (ARM) is ideal when you only plan on keeping your home for 5-7 years or when you would rather pay less now, but expect your income to increase in the future. ARMs usually start out with a lower interest rate than fixed rate home mortgages and remain constant for a specified amount of time. After the initial period, the rate is adjusted for a specific period of time, and can go up or down according to the index, margin and adjustment period/lifetime caps stated.

Adjustable Rate Mortgage features:

  • Potential Tax Benefits (consult your tax advisor)
  • Low Monthly Mortgage Payments
  • Lower Interest Rates than Traditional Fixed Loans
  • Annual/Lifetime Cap on Interest Rate Adjustments

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Today’s Rates

Contact Us Today

Jim Harilaou

Mortgage Sales Representative
NMLS# 519891
1-201-703-3800 ext. 8336