You're looking to build your own home and want to purchase the land first.
What it offers:
Land must be an approved buildable lot with paved street frontage
Fixed rate for one or three years, then your rate adjusts based on treasury indices and margin
Rate caps of 2% annually and 5% lifetime
One and two point options available
Borrow up to $300,700
25% down payment required
Property Type:
Buildable lot with paved street frontage located in Massachusetts or New Hampshire
Terms:
Up to 25 years
Land Loans as of May 7, 2008
Land must be approved buildable lot with paved street frontage.
Program
Down Payment
Maximum Loan
Maximum Term
Interest Rate
Points
Annual Percentage Rate
Monthly P&I* PER $1,000
3 Year ARM
25%
$417,000
25 Years
6.750%
1
5.958%
$6.91
* (P&I) Principal and Interest
If you have any questions about East Boston Savings Bank's residential loans or services, please
contact our Call Center at (800) 657-3272, or click "Contact Us" to e:mail our Residential Lending
Division.
Equal Housing Lender.