Mortgage Lending

• Fixed-rate mortgages
• Adjustable rate mortgages (ARMs)
• Government Backed Loans – FHA, VA and USDA
• Jumbo Loans – Loans that exceed the conforming loan limits s
• Construction loans, land loans, manufactured home loans, home equity loans (HELOANs), home equity lines of credit (HELOCs), and more

Getting prequalified is highly recommended as the first step towards finding your next home. A prequalification letter will help you find the best price range for your budget. It will help guide you when browsing for homes and show sellers that your offer is strong and serious. It will also help speed up your mortgage approval process so you can get to the closing table faster.

There are many factors that are taken into consideration when determining the best loan for each customer.  This includes a review of your credit history, including your credit score, we will review your based on your current income and debt structure, what amount your budget allows to comfortability with your mortgage payment.  available cash for down payment & closing costs, your bank accounts, and investment portfolio.  An easy way to obtain an idea of what you could qualify for, is to use our mortgage affordability calculator.

• It allows you to get a good understanding of your budget – what you can afford
• Allows you to become organized with what you will need for information for the loan application.
• Allows you to explore many options with what the best loan product is for you
• Provides a stronger impression to the sellers with your buying power.

NOTE: A prequalification is not a guarantee of a loan.  It is only an estimate and you will still need to complete the full mortgage application process of underwriting for a final approval. 

No – you do not have to have 20% down.  However, 20% down payment is often considered the traditional standard and offers you some benefits.   SBW offers many loan products that have a lower down payment amounts.

However, with less than a 20% down payment, borrowers are required to purchase Private Mortgage Insurance (PMI), which adds to your monthly payment amount on the loan.

Your relationship does not end at the closing table. That is where it actually begins.

Loan servicing is important as it plays a crucial role in maintaining the smooth functioning of the loan and protects the lender and YOU as the borrower.

• Our servicing team ensures loan payment collections
• Our team is your dedicated primary contact for you to call with any questions and general inquiries.
• Our team manages the escrow accounts for your annual home owners insurance, property taxes and flood insurance (if needed).

At Savings Bank of Walpole, every loan we originate is serviced locally by knowledgeable people right here in New Hampshire. In addition, your local SBW Mortgage Loan Officer is always willing to help. If you ever have a problem with your loan, that really matters.

It is possible to obtain a mortgage without a credit score. We will require more financial documentation to review to understand your history of making timely payments. However, many specialty loan programs may require a credit score.