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Let's bring your mortgage home
Salem Five is proud to be serving generations of New England homeowners. Our expert loan officers and state-of-the-art technology make the process fast and easy, so that you can focus on finding the home that is right for your family. We have financed more homes than any other Massachusetts bank, and we are ready to put our experience to work for you. Are you ready to make your move? View our current rates, download our mobile app to use our mortgage calculators or pick a topic from the menu below.
Fixed and Adjustable Rates
Salem Five offers both conventional fixed rate mortgages and adjustable rate mortgages. Our portfolio of lending options available ensures you’ll be able to find the right term, rate, and loan for your home purchase. We work tirelessly to find the product that works best for your individual needs. Let's bring your mortgage home
For over 160 years, we've helped home buyers find the right loan to fit their needs. You could pre-qualify for one of our many loan options to get you in your new home even quicker. We close loans in 30 days!
Conventional fixed-rate loans
With a fixed rate mortgage, your principal and interest payments stay the same for the life of the loan.
Adjustable-rate mortgage
Adjustable rate mortgages (ARM), also known as variable rate mortgages, have varying terms to maturity where your interest rate and monthly principal and interest payments remain fixed for the initial pre-determined period of time, once the fixed period expires the interest rate adjusts annually based on a rate index.
Whether you want to lower your monthly payment, shorten your term or take cash out, sometimes replacing your current mortgage with a new one makes sense.
Whether you're building a brand-new home, including modular construction, or restoring that fixer-upper, you'll find a wide array of mortgage and loan options at Salem Five.
A VA mortgage provides home financing guaranteed by the U.S. Department of Veteran Affairs for qualified veterans, reservists, active duty personnel, or eligible family members. Low down payment options are available.
Since 1855 we have been focused on making life better, one family at a time. Whether it’s a reverse mortgage, home improvement, or retirement plan; Salem Five has you covered!
Reverse Mortgage
A Reverse Mortgage, or home equity conversion mortgage (HECM), is a federally regulated loan available to homeowners 62 and older in which the bank makes payments to the borrower on your home equity percentage. Contact our qualified reverse mortgage specialist today.
For buyers with modest incomes that may need some help making long-term homeownership a reality, we are an approved participating lender with Mass Housing and New Hampshire Housing.
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Los Documentos y formularios que prevemos para abrir y mantener su cuenta, Con Salem Five, son proporcionados en inglés.