Adjustable Rate Mortgages
Benefits & Features
Your Choice of Adjustment Period
Choose from a variety of adjustment periods, with lifetime caps that are competitive and often extremely attractive.
Dedicated Residential Lending Expert
Work with the same Needham Bank expert from application to closing, so you know you're partnering with someone who understands your needs and is invested in your success. Our lenders are available directly by text, phone, and email to help you through the home buying process.
Lower Initial Interest Rate
Get your monthly payment as low as possible in the early years of the loan when compared to a typical Fixed Rate Mortgage option.
Adjustable Rate Mortgage Highlights
The easiest way to pay your NB mortgage from your NB Checking Account is through NB Online Banking or NB Business Online Banking by completing a transfer from your checking account to your mortgage.
Before shopping for a home, you should understand how much you can afford to spend on a mortgage. Learn how to calculate your monthly payments with Needham Bank.Learn more about Calculating Your Monthly Mortgage Payment
Is it a priority for you to get your monthly payment as low as possible in the early years of your loan? Partner with us to finance your new home, your way.
*The Annual Percentage Rate stated above is as of October 11, 2019 and is based on a 15% down payment on owner occupied residences only. A loan with a smaller down payment may require Private Mortgage Insurance (PMI) which will result in a higher APR. The maximum rate adjustment is 5% above the initial interest rate. Initial 60 month principal and interest payment of $3.79 per $1,000 borrowed followed by an estimated $5.37 per $1,000 borrowed for 420 months does not include taxes or insurance. Subject to credit approval and subject to change without notice.