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Mortgage and
Home Equity Loans

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Mortgages designed for the Berkshires


We are specialists in home loans for the Berkshires. Because we know the community, the neighborhoods, the employers and more, we can make the entire mortgage process easier than those other companies. Come to us. We'll give you personal attention, will understand your situation and will work together with you to find the right loan for your needs.

Mortgages
Home Equity Loans
Click to enter the Pittsfield Cooperative Bank Mortgage Center for today's rates, more information, and an application.

Mortgages


We can work with you at any phase of the mortgage process starting with a pre-approval based on your financial situation. We will take the time to really listen to your needs. Our knowledgeable, efficient mortgage staff can make your Berkshire home dream a reality.

ProductBetter Together
Fixed-Rate Mortgage
Better Together
Adjustable-Rate Mortgage (ARM)
Better Together
First Time Home Buyer
Mortgage
Interest rate The rate and payment amount are set for the life of the mortgage. This type of mortgage provides maximum predictability. The rate and payment amount are set for an initial period of time and then can adjust up or down with market conditions. This type of mortgage generally offers a lower initial interest rate. Both fixed-rate and adjustable-rate mortgages are available.
Types of Property 1-4 family owner-occupied homes and condominiums 1-4 family owner-occupied homes and condominiums 1-4 family owner-occupied homes and condominiums
Maximum Loan Amount 80% of the purchase price 80% of the purchase price 89% of the purchase price
Mortgage Term (Length) 15, 20 or 30 years 15, 20 or 30 years 15, 20 or 30 years
Conventional Loan Interest Rate Limit

One-Unit Limit: $510,400
Two-Unit Limit: $653,550
Three-Unit Limit: $789,950
Four-Unit Limit: $981,700

One-Unit Limit: $510,400
Two-Unit Limit: $653,550
Three-Unit Limit: $789,950
Four-Unit Limit: $981,700

One-Unit Limit: $510,400
Two-Unit Limit: $653,550
Three-Unit Limit: $789,950
Four-Unit Limit: $981,700

Jumbo Loans, above conventional loan limits

Yes

Yes

Yes

Bi-weekly payment option Yes Yes No
Available for vacation and investment homes Yes Yes No

Available for refinancing

Yes

Yes

No

Rate Lock available at application

Yes

Yes, locked for the initial period

Yes

Rates

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The Pittsfield Cooperative Bank fully supports the Military Lending Act, a program that provides certain protections in lending for servicemembers who are called to Active Duty. Users may submit a Single Record Request to obtain a report certifying Title 10 active duty status for provisions under MLA.

Soldiers, sailors, airmen, marines, coast guardsmen, commissioned officers in the Public Health Service and National Oceanic and Atmospheric Administration also receive protections under the Servicemember Civil Release Act, which provides a wide range of legal protections not available to the general public. It is designed to ease financial burdens on servicemembers during periods of service.

Home Equity Loans


The value you have in your home can work for you. Home equity loans can be used for almost anything, including big expenses, home remodeling, education, or a big vacation. They generally have a lower interest rate than other kinds of personal loans and may be tax-deductible (check with your advisor).

ProductBetter Together
Home Equity Loan
Better Together
Home Equity Line of Credit
(HELOC)
Description

You borrow a fixed amount for a fixed term.

You may borrow anytime for as much or as little as you want up to your approved credit limit. As you repay the balance, you may use your line of credit again and again.

Interest rate

The rate and payment amount are set for the life of the home equity loan. This type of loan provides maximum predictability.

“Prime All-the-Time” – the rate adjusts and is set to The Wall Street Journal Prime Rate.

Maximum Loan Amount

Based on available equity

Based on available equity

Fees

NO application, appraisal, attorney fees, or closing costs on primary residences.

NO application, appraisal, attorney fees, or closing costs on primary residences. 

Rates

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