Mortgage Loans

Mortgage Loan Lending Area

Mortgage and Equity Lending Area

Foxboro Federal’s mortgage and equity loan lending area consists of Essex, Middlesex, Norfolk, Bristol, Plymouth, Barnstable, Worcester and Suffolk counties in Massachusetts and the entire state of Rhode Island, with the following exceptions. Excluded are the islands of Martha’s Vineyard and Nantucket in MA and Block Island in RI.

Which Loan is Right for Me?

Fixed Rate Mortgages

In order to allow you to choose whether the lowest rate or local service is most important for your loan, we offer three types of fixed rate mortgages.

Serving Released Mortgages – our ability to sell these loans to Freddie Mac gives you access to nationally competitive rates, usually the lowest available on our rate sheet. These loans will be “serviced” by a company other than Foxboro Federal who will collect your payments and administer your loan.

Serving Retained Mortgages – these loans are also sold to Freddie Mac but your payments are collected by Foxboro Federal. We retain the servicing and administration of your loan while still being able to pass on the lower rates associated with sold loans.

Portfolio Gold Mortgage – these loans are not sold, they are held in our own portfolio. This allows us to use different underwriting criteria than national lenders. Your loan stays with us so all payments and loan administration is handled locally by our customer service oriented staff.

Adjustable Rate Mortgages (ARMs)

Adjustable rate mortgages are offered for the purchase or refinance of both single and multi-family properties. Rates are based on the product choice, down payment and number of points paid. We offer a complete array of 5/1, 7/1 and 10/1 ARMs.

First Time Home Buyer

Looking to buy that first home? Let us help you make that dream become a reality. Our First Time Home Buyer loans offer low down payment requirements, flexible qualifying ratios, and attractive pricing.

Construction and Land Loans

Permanent Construction Loans

Enjoy the convenience of only one closing with our permanent construction loan. Make interest only payments during the construction period and then the loan automatically converts to principal and interest payments once construction is complete.

Land Loans

Thinking of building that dream home? Let us help you take the first step by financing the purchase of the land. Just give us a call for our current rates.

Mortgage Loan Rates