First-Time Homebuyer

Buying your first home isn’t just a transaction, it’s an achievement.

At The Savings Bank, we understand as a first-time buyer, you need more – more support from a team you trust, more answers to all your questions, and more help with costs associated.

The good news is, our mortgage specialists are here to help with all that – and more.

First-Time Homebuyer Workshop

As exciting as it is to look at homes and imagine what your daily life could look like there, the home-buying process can seem intimidating, especially for first-time homebuyers.The Savings Bank offers personalized workshops for first-time homebuyers, outlining their unique scenarios, processes, and the benefits available.

Next workshop:
Wednesday, May 7th from 7:00pm - 8:30pm
Hopothecary Ales Brewery & Kitchen
303 Main Street | North Reading, MA
Refreshments will be served.

Click here to register today!

Free Pre-Approval for First-Time Homebuyers

Designed Exclusively for You

The market moves fast – are you ready to make an offer when the right house becomes available Unlike a pre-qualification, a pre-approval from The Savings Bank includes a credit check and full income verification, meaning you will have an advantage when it’s time to write an offer.

Our First-Time Homebuyer program is designed to help first-time buyers:

Lower Down Payments
- Under 11% requires Personal Mortgage Insurance (PMI)
No PMI Required
- With just 11% down
Reduced Closing Costs
- Save at least $1,300
Reduced Lender’s Title Insurance
- $2.00 per $1,000 borrowed
Competitive Rates and Terms

Plus, guidance from our home loan specialists from pre-application to post-closing and beyond!

Program	Rate	Points	APR* 11% Down¹	Years	Monthly Payment per $1,000³
Special Offer
30 Year Fixed²	6.500%	0	6.537%	Years 1-30	$6.32
7/3 ARM¹ ²	5.875%	0	6.216%	Years 1-7	$5.92
				Years 8-30	$6.46
*APR=Annual Percentage Rate effective 7/2/2025. ¹Composite APR includes prepaid finance charges such as, $88.00 Tax Service Fee, $80.00 Hazard Tracking Fee, $14.50 Flood Certificate Fee, and $200.00 Employment/Income Verification Fee. ²Must have automatic payments from a TSB checking account and direct deposit of payroll income. ³These amounts do not include real estate taxes and insurance. The actual monthly payment will be higher if an escrow account is established or required. Subject to credit and property approval. Hazard insurance is required. Flood insurance may be required. Property must be 1 to 4 family owner-occupied. No PMI on a loan-to-value of 89% on a 1 and 2 family property with a maximum loan amount of $800,000. 3 and 4 family property requires a minimum 80% loan-to-value and a maximum loan amount of $1,000,000. A maximum loan-to-value of 95% WITH PMI on a 1 family property and condominium with a maximum loan amount of $766,550. A maximum loan-to-value of 95% WITH PMI on a 2-family property with a maximum loan amount of $800,000. Any loan that requires Private Mortgage Insurance (PMI) must meet all guidelines established by the PMI company. Reduced closing costs. All Interest Rates and program guidelines may change without prior notice. Other restrictions may apply. Please contact TSB for details.

Let’s get started:

Apply – Through our user-friendly Online Mortgage Application
Connect – With a member of our mortgage team

We are happy to consider a real estate loan request for properties located anywhere in the Massachusetts counties of Middlesex, Essex, Worcester, Suffolk and Norfolk, as well as, properties located anywhere in the New Hampshire counties of Rockingham, Hillsborough, and Cheshire.

MassHousing Partnership

The Savings Bank proudly offers MassHousing Partnership’s One Mortgage product. Please call for more information.

From our customers
“I’ve used TSB for approximately 40 years. They have always been helpful and kind. Never had an issue. Love banking with TSB and all of the wonderful employees.”

From our customers
“I have been banking here for a number of years. I love this bank! Customer service is awesome. Anytime I had a problem it was resolved professionally.”

From our customers
“I feel you excel in all areas but I am very appreciative of the kindness with which I have been treated all these years, by everyone at the TSB, whether in person or on the phone.”

From our customers
“The people I encounter at Lakeside and Main Street are always helpful and friendly. I enjoy that they actually care about me even though I am not one of your bigger clients.”

From our customers
Friendly, helpful, and pleasant tellers in the Greenwood, Wakefield branch!

From our customers
“Love the personal connections with the bank personnel.”

From our customers
“I like the real hometown feel you get with The Savings Bank. Staff at ALL branches are wonderful, making the personal interaction very pleasant. I have been banking with you since 1978 and have never had even one issue.”

From our customers
“Just great!”

From our customers
“I stay with TSB because I know if I have an issue, I can reach out to an actual person and get help. It is what separates TSB from the big banks.”

From our customers
“The staff in the Methuen office could not be kinder.”

From our customers
“Love everything!”

From our customers
“Love the employees at the North Reading Office. They are so friendly and helpful. The teller and the customer service representative are the BEST!!”

From our customers
“Your staff is the best.”

From our customers
“I have been banking with TSB for many years and I am very satisfied with them. Why wouldn’t you want to come and bank there?”

Talk to The Savings Bank

To find out how The Savings Bank can help you achieve all your financial goals, visit one of our offices, use our contact form, or call us at 800-246-2009.