Northwest Community Bank Mortgage & Home EquityBuilding Our Community, One Home at a Time

Purchasing a home is a major step in anyone's life! Be it your very first home, or your dream vacation home in the mountains or on the beach - Northwest Community Bank has a lending option for you without a complicated process. No headaches involved! You work directly with our decision makers - we listen to your story and look at the big picture - not just your credit report.

Mortgages & Home Equity

From first and second mortgages to equity lines of credit, we are here to ensure you maximize your dollars and your time! Are you ready to become a card carrying member of the Northwest Community Bank family?

Fixed Rate Mortgages

Our traditional 15, 20, and 30 year loans are perfect for the first time homebuyer or retirees looking to finance their dream beach house.

  • Same payment every month
  • Interest rate fixed for life of loan
  • Low closing costs
  • Options to fit your needs

* Other terms and conditions may apply

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Adjustable Rate Mortgage

Lower interest rates at the beginning of these loans make these mortgages affordable and convenient.

  • Low rate at beginning of term
  • Significant savings in lower interest rate environments
  • Low closing costs
  • Options to fit your needs

* Other terms and conditions may apply

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Home Equity Loan

Whether you need money to finance a home remodel, college education, or a trip around the world, tapping into the equity of your home is a great way to finance your dreams.

  • Low fixed rate options
  • Options to fit your needs
  • Available on owner occupied one to four family homes
  • Great for home improvements and college costs!

* Other terms and conditions may apply

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Home Equity Line Of Credit (HELOC)

Like our Home Equity Loan, our Home Equity Line of Credit allows you to tap into your home equity but with interest only payments required during a 10 year period.

  • Low variable rate options
  • Interest only payments during 10-year draw period
  • Options to fit your needs
  • Great for having an emergency fund available!

* Other terms and conditions may apply

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Land Loans

When you've found a beautiful piece of land, you've got the design for your home, all that's left is obtaining a land loan.

  • Competitive and flexible terms
  • An initial adjustment period of one year with subsequent adjustments thereafter
  • Rate lock options are available
  • Interest rate caps at 2% per review and 18% lifetime

* Other terms and conditions may apply

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Construction Loans

With both fixed and adjustable rate options, construction loans allow you to finance your home during the building process.

  • Perfect for new home building, remodeling or lot purchases
  • Construction funding and permanent financing in one loan
  • Fixed rate and adjustable loans available
  • Flexible disbursement schedule

* Other terms and conditions may apply

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Housing Our Workforce (HOW) Program

We are pleased to announce that FHLBank Boston has adjusted HOW in an effort to help homebuyers facing the current competitive real estate market. Eligible homebuyers can now receive up to $15,000 in down payment assistance.

The Housing Our Workforce (HOW) Program available through Northwest Community Bank is funded by the Federal Home Loan Bank of Boston (FHLBank Boston). Eligible homebuyers are now be able to receive a 1.5-to-1 matching grant of the borrower's down payment up to $15,000 on applications submitted July 1st and later.
For example, if a borrower puts down $10,000 they can receive $15,000.

Eligibility and Requirements:

  • Households must earn more than 80% and up to 120% of the area median income (AMI).
  • Homebuyers must complete a homebuyer-counseling course administered by an experienced homeownership counseling agency.
  • Property must be an owner-occupied primary residence.
  • No repayment required after five years.

The number of available grants is limited and awarded on a first-come, first-served basis. Contact our mortgage lenders for more information and to see if you qualify.

This program is similar to the Equity Builder Program, but with higher income limits, purchase price limits, and a singular focus on down payment assistance. Compare How Program to Equity Builder Program.

* Other terms and conditions may apply

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Equity Builder Program (EBP)

Grant funds of up to $15,000 towards down payment and closing costs may be available for Qualified First-time Buyers

The Equity Builder Program (EBP) available through Northwest Community Bank provides funding up to $15,000 per property that can be used for down-payment assistance, customary closing costs (including single premium PMI), home-buyer-counseling costs not covered by another funding source.

Eligibility and Requirements:

  • Households must earn no more than 80 percent of the median income, adjusted for family size, for Hartford or Litchfield County, depending on the location of the new home.
  • Homebuyers must complete a homebuyer-counseling course administered by an experienced homeownership counseling agency.
  • Borrowers must be first-time home-buyers.
  • Property must be an owner-occupied primary residence.
  • No repayment required after five years.

This program is similar to the Housing Our Workforce (HOW) Program, but with lower income limits and more allowable uses of grant funds. Compare How Program to Equity Builder Program.

* Other terms and conditions may apply

View Rates Contact a Home Loan Specialist Apply Now