House on little neck in ipswich

Residential Loans

Ready to make a big move?
We're here to help.

House hunting in Massachusetts or southern New Hampshire? You'll focus first on floor plans and front porches, lot sizes and local schools. But at some point, you’ll need to turn your attention to how you’re going to pay for that perfect place. With so much at stake, it’s nice to work with people who have done this for decades. At the Institution for Savings, we’re ready to guide you through the mortgage process and provide a loan you can live with for the long run. 

Important Information to Know Before You Apply

With a fixed-rate mortgage, your monthly payment will stay the same for the life of the loan, making it easier to plan your finances well into the future.

  • Choose loan terms of 10, 15, 20 or 30 years
  • Attractive rates and low closing costs
  • Convenient online application
  • Refinancing options available
  • We service our mortgages locally, so you can direct any questions or concerns directly to us.

Make your home work for you! Our home equity loans are available in a variety of terms and empower you to take on a big remodeling project, make major purchases, finance education or more!

  • Attractive rates and low closing costs
  • Ideal for consolidating higher interest debt
  • No restrictions on use of funds
  • Convenient online application

Access your money only when you need it by writing checks against your available approved credit line. Our home equity lines are ideal for covering education costs, paying unexpected bills, taking a trip and more!

  • Borrow funds for 10 years with interest-only payments during the 10-year draw period followed by a 10-year repayment period. (For additional information, ask one of our loan officers for a copy of Home Equity Line of Credit Plan Disclosure.)
  • Convenient online application
Buying your first home can be daunting....and that is why we are here to help you navigate the journey and explain all the mortgage options available. You'll be able to make informed choices and find the mortgage that fits your budget and lifestyle through our First-Time Homebuyer program.
A First-time Homebuyer Education Class is recommended for all first-time homebuyers and required for some of our programs. As an added incentive, Institution for Savings will provide a $500.00 closing cost credit to all applicants who complete an approved CHAPA certified course and close their loan with the Bank.

We have also partnered with the local First-time Homebuyer Education providers listed below to offer an additional closing cost credit of the standard course fee when you complete one of their courses. Simply provide the course completion certificate and proof of payment to receive the added benefit at closing.

First-time Homebuyer courses provide important information about:
  • Qualifying and applying for a home mortgage
  • Working with realtors, home inspectors and closing attorneys
  • Purchasing homeowners insurance
  • Special issues surrounding condominiums and multifamily homes 
To register for an online First-time Homebuyer course, or for more information about live classes via Zoom, please visit our partners below:

For information about live classes held via Zoom, please visit or contact MVHP directly at 978-459-8450.

Gloucester Housing Authority
Contact a homeownership advisor directly at 978-281-4770 x110
or via email at

Please call us at 978-462-2344 or email us for information about our Low to Moderate Income First-time Homebuyer programs and eligibility requirements.

Bank NMLS Number: 409410