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Mortgage Calculator

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Complete and Print our Residential Mortgage Application

Essex Savings Bank offers a wide variety of mortgage loans to meet your individual needs. Whether you are purchasing your first home, buying a new one, building or remodeling, we have a mortgage program that is just right for you. A fixed interest rate mortgage assures you of a constant monthly payment for principal and interest for the full term of the loan. A one year variable interest rate mortgage has a lower initial interest rate but the rate may change annually during the life of the loan. This lower rate may help you better qualify for the mortgage you have in mind. Other programs include a combination of fixed interest rate for a period of time and a variable interest rate for the remainder of the term.


Construction / Permanent Mortgage Loans

If your plan is to construct a new home or remodel an existing home, Construction / Permanent Mortgage financing is right for you. You will enjoy the convenience of one closing with interest only payments for the first year, and principal and interest payments thereafter.

Home Equity Loans

A Home Equity Loan can be a fixed interest rate or a variable interest rate mortgage loan that uses the equity in your property to obtain funds for any purpose at attractive interest rates. Additional savings may be available when you consider possible tax advantages. Your accountant or tax adviser can provide you with details.

Home Equity Line of Credit

A revolving line of credit based on the equity in your home allows you to borrow funds as needed by simply writing a check up to your credit limit. For five years, you pay monthly adjustable rate, interest-only payments on the balances outstanding. You have the option of making additional payments toward your principal balance. As your balance is reduced, funds again become available. We offer competitive interest rate and additional savings may be possible when you consider possible tax advantages. Any balance remaining after the first five years will be amortized over the next 15 years with regular interest and principal payments.

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