5300 Residential Loans closed in 2024
What are The Benefits of a Fixed-Rate Mortgage?
This unique mortgage option allows you to pay only the interest due for a set period of 5 years, significantly reducing your initial monthly payments and freeing up liquidity for other investments or priorities. Whether you’re purchasing a second home, or seeking to maximize cash flow, this product offers a smart solution tailored to your financial goals.
Lower initial monthly payments during the interest-only phase
Preserve liquidity for investments or major purchases
Ideal for short-term ownership, second homes, or anticipated income growth
More Easily Manage Your Monthly Expenses During Initial Payments
Workings with Carrie Carrizosa and Leader Bank was an absolute pleasure. Their process and communication was buttoned up from the get go resulting in zero stress. Never once did we feel like we were behind schedule in the process. Carrie and her team excel in service and efficiency. I cannot recommend Carrie and her team strongly enough.
We had a wonderful experience working with Roger from Leader bank and his team. They are very quick, responsive and professional, recommended us with good attorneys, and gave us competitive rates. Roger is also very patient in answering all my detailed questions. The whole process of house purchase was very smooth. We will definitely recommend them!
Working with Scott King and the Leader Bank team was a truly refreshing experience in a typically frustrating space. I felt confident at every turn that Scott had my back and was looking out for my best interests. His communication and followup are unmatched, and his tireless work ethic and positive attitude are a true asset for your home buying process. I highly recommend working with Scott and the Leader Bank team!
After speaking with numerous banks for my first mortgage, I ended up choosing Leader Bank due to Matthew McCarthy. Matthew was noticeably more diligent and knowledgable than the other banks I inquired with. Matt was very proactive with explanations, follow-ups, and suggestions for my particular situation which as a salesperson myself, I appreciate. In addition Leader Bank had far and away the best rate of anyone I called to the point that my real estate agent and attorney also began sending referrals their way...
In a very chaotic, scary (and also expensive) time to be a first-time homeowner, Chris and his team at LeaderBank have been amazing to work with and their tools made me so much more comfortable and confident that I was doing the right thing at the right time, and how to know that the whole team was on top of it. We got everything done from offer to closing in amazing time, too, working very well together as a team with my buyers-advocate agent and their preferred law firm, every single hand-off seemed to go perfectly smooth.
Frequently Asked Questions
* Interest only for the first 5 years of the loan. You are required to pay the interest component of the loan for the first 5 years, then both principal and interest payments over the next 25 years. You may also voluntarily make principal payments during the five-year interest only period. Following the conclusion of the interest only period, fully amortizing monthly payments of principal and interest will be required over the remainder of the loan term at the applicable interest rate; your monthly payment will increase.
Not available for cashout refinance loans or for investment properties; property must be located in Massachusetts, Connecticut, Rhode Island, New Hampshire & Maine, and property must be a single-family residence or warrantable condo. Rates for this product also subject to agreement to sign up for automatic payments from Leader Bank checking account.
How much can you afford?
The calculator tool provided is for informational purposes only and does not reflect any specific mortgage or home equity line of credit offered by Leader Bank or any specific terms that may be available for such products. For information on available Leader Bank products and services, please contact a Leader Bank loan officer directly. Examples of monthly payment amounts shown in calculators does not include taxes, insurance or any condominium or HOA fees applicable; as such your total monthly housing payment would be higher. For any adjustable or variable rate loan examples provided, interest rate may increase after consummation and your fully indexed rate, annual percentage rate and monthly principal and interest rates may be higher.
