Mortgage Programs
Start your journey home.
Buying a home should be exciting. We’re here to keep it that way. With our range of mortgage programs, move-in day is closer than you think.
Journey Home
Getting ready to buy your first home? First, congratulations! Second, check out our infographic for all the information you need — what the process involves, steps you need to take, and documents you need to provide.
| Works best for | Rate Information | Special Features | |
| Fixed Rate Mortgage | Someone who wants a consistent monthly payment | Stays the same for the entire term of the loan, making monthly budgeting easier | Special programs available for municipal, medical, and other professions |
| Adjustable Rate Mortgage (ARM) | Someone who may not be in the home long-term and may be looking for a lower initial rate | Changes based on the type of loan chosen | Special programs available for municipal, medical, and other professions |
| First Time Homebuyer | Someone who is new to home buying and may need extra assistance | Typically, a fixed rate | Programs available that offer lower down payment, lower income requirements and lower closing cost |
| Construction Loan | Someone who is buying property and having a home built, or is renovating an existing home | Construction Loan Payments are interest-only for 18 months | Borrow to build your home, then convert to a longer-term mortgage with a single closing |
| Jumbo Mortgage | Someone looking for a mortgage of $832,750+ | Can be fixed or adjustable rate | Loans up to $2,000,000 |
All loans subject to credit approval.
Current Mortgage Rates1
The following rates are effective as of September 9, 2026
| FIXED RATE TERM | RATE WITH 20% DOWN | POINTS | APR3 | # OF MONTHLY PAYMENTS | MONTHLY PAYMENT2 PER $1,000 BORROWED |
| 30-Year Fixed Rate Conforming4 up to $832,750 | 6.625% | 0.000 | 6.687% | 360 | $6.40 |
| 30-Year Fixed Rate Jumbo5 $832,751 to $2,000,000 | 6.625% | 0.000 | 6.669% | 360 | $6.40 |
| 15-Year Fixed Rate Conforming4 up to $832,750 | 6.125% | 0.000 | 6.221% | 180 | $8.51 |
| 15-Year Fixed Rate Jumbo5 $832,751 to $2,000,000 | 6.25% | 0.000 | 6.319% | 180 | $8.57 |
| ADJUSTABLE RATE MORTGAGE (ARM) TERM | INITIAL INTEREST RATE | POINTS | APR3 | FULLY INDEXED RATE8 | MONTHLY PAYMENT2 PER $1,000 BORROWED |
| Adjustable rate mortgages have interest rates that may increase after the initial fixed period, resulting in higher monthly payments. | |||||
| 5/1 ARM Conforming6 up to $832,750 | 5.625% | 0.000 | 6.288% | 6.625% | 60 payment at $5.76 300 payment at $6.83 |
| 5/1 ARM Jumbo7 $832,751 to $2,000,000 | 5.75% | 0.000 | 6.32% | 6.625% | 60 payment at $5.84 300 payment at $6.83 |
| 7/1 ARM Conforming6 up to $832,750 | 5.75% | 0.000 | 6.291% | 6.875% | 84 payment at $5.76 276 payment at $7.22 |
| 7/1 ARM Jumbo7 $832,751 to $2,000,000 | 5.875% | 0.000 | 6.401% | 6.875% | 84 payment at $5.92 276 payment at $7.22 |
| 10/1 ARM Conforming6 up to $832,750 | 6.25% | 0.000 | 6.520% | 6.875% | 120 payment at $6.16 240 payment at $7.68 |
| 10/1 ARM Jumbo7 $832,751 to $2,000,000 | 6.25% | 0.000 | 6.503% | 6.875% | 120 payment at $6.16 240 payment at $7.68 |
1All rates subject to change without notice
2Payments do not include taxes and insurance. Your payments may be greater.
3APR = Annual Percentage Rate
4Conforming fixed rates above are based on a loan amount of $500,000, single family, primary residence, purchase with a loan to value of 75% or less, a FICO score of 780 or greater and a 60 day rate lock period. Rates vary based on other scenarios, contact a loan officer. Loans are subject to credit approval.
⁵Jumbo fixed rates above are based on a loan amount of $1,000,000, single family, primary residence, purchase or rate/term refinance with a loan to value of 80% or less, a FICO score of 780 or greater and a 60 day rate lock period. Rates vary based on other scenarios, contact a loan officer. Loans are subject to credit approval.
6Conforming adjustable rates above are based on a loan amount of $500,000, single family, primary residence, purchase or rate/term refinance with a loan to value of 80% or less, a FICO score of 780 or greater and a 60 day rate lock period. Loans are subject to credit approval.
7Jumbo adjustable rates above are based on a loan amount of $1,000,000, single family, primary residence, purchase or rate/term refinance with a loan to value of 80% or less, a FICO score of 780 or greater and a 60 day rate lock period. Loans are subject to credit approval.
8Fully Indexed Rate = 1-Year Treasury Constant Maturity Index as published by the Federal Reserve Board (H.15) + a fixed margin rounded to the nearest .125% (one-eighth of one percent).
Request a Mortgage payoff amount
To obtain a Mortgage payoff amount, you may submit a request quickly and securely using our online payoff portal.
Or, you can Contact Us to assist with this information.
Down Payment & Closing Cost Assistance
Buying a home may be one of the largest and most important purchases many of us will ever make. It can also be daunting and costly. At Dedham Savings, we have many resources to assist with down payment and/or closing costs to help you on your journey home.
NOTE: Programs below are offered on a first-come, first-served basis, while funds remain available. Individual program restrictions and income limits apply.
Click here to learn about special Down Payment and Closing Cost Assistance Programs:
City of Boston Loans
Equity Builder Program (EBP)
Housing our Workforce (HOW)
MassHousing
Dedham Savings Program
Accessory Dwelling Units (ADUs)
Need more living space for adult children, elderly parents, or an au pair? Renovate your existing home with an in-law apartment, convert your basement, or build a detached cottage onto your primary residence with an ADU (Accessory Dwelling Unit).
Learn about ADUs
Affordable Mortgage Options
Dedham Savings is proud to partner with MassHousing and the Massachusetts Housing Partnership in offering many special Mortgage that include competitive fixed rates and low down payments. MassHousing is a not-for-profit agency whose public mission is to make affordable loans to homebuyers with modest incomes. Massachusetts Housing Partnership works to help increase the supply of affordable housing in Massachusetts. Affordable Mortgage Options available through Dedham Savings include:
- A MassHousing Mortgage can help create affordability and increase buying power, including options with PMI (Private Mortgage Insurance) paid by Lender (LPMI), PMI paid by Borrower (BPMI), or even a no MI option.
- The ONE Mortgage Program is the most affordable loan for first-time home buyers, especially those with low to moderate incomes.
- The ONE+Boston Program combines City of Boston funds with features of the ONE Mortgage to increase the buying power of eligible residents purchasing a home within the City.
Meet the Team
Let’s get started on your journey home! Select Meet the Team to begin working with one of our Mortgage experts.
Home Equity Options
Whether you’re thinking about a new car or a backyard patio, a home equity loan or line of credit could help you fund it. We’ll help you find the right option to bring your dreams to life.
Start Up Savings
Designed for first-time savers, this account helps you save faster. Way faster. At 5.00% APY1, you’ll reach those goals before you know it.