Mortgage Products
No Bank Fees – Check the APR!
Kennebec Savings Bank is proud not to charge ANY bank fees on our biweekly and monthly fixed rate mortgages. (Other third-party fees still apply.)
Shopping around? Make sure you are accurately comparing costs. The APR (annual percentage rate) can help. The APR is required to include certain fees many banks like to add to their loans.
If you have any questions, call us at (207) 622-5801 and ask to speak to a lender. We're always happy to help.
Mortgage Products
Biweekly Fixed Rate Loans
Monthly Fixed Rate Loans
Adjustable Rate Loans
Construction Loans
First-Time Homebuyer & Veteran Loans
HomeAid Affordable Home Loans
Seasonal Home Loans
Mobile Home with Land Loans
Land Only Loans
Home Equity Loans
Home Equity Lines of Credit
Biweekly Fixed Rate Loans |
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Our signature mortgage product. Half of a monthly mortgage payment is taken automatically from your KSB checking account every two weeks, resulting in substantial interest savings, taking years off the life of the mortgage. These rates assume a 20% down payment. Contact us for other options. |
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| Term (Years) | Interest Rate | APR* |
| 10 | 6.925% | 6.925% |
| With a loan amount of $100,000, you would have 232 biweekly payments of $578.61 (paying off in only 8 years and 11 months). | ||
| 15 | 7.425% | 7.425% |
| With a loan amount of $100,000, you would have 339 biweekly payments of $461.38 (paying off in only 12 years and 11 months). | ||
| 30 | 7.625% | 7.625% |
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With a loan amount of $100,000, you would have 603 biweekly payments of $353.90 (paying off in only 23 years and 2 months). |
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Monthly Fixed Rate Loans |
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Our other fixed-rate option for home purchasing or refinancing, billed and paid monthly. These rates assume a 20% down payment. Contact us for other options. |
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| Term (Years) | Interest Rate | APR* |
| 10 | 7.175% | 7.175% |
| With a loan amount of $100,000, you would have 120 monthly payments of $1,170.12. | ||
| 15 | 7.675% | 7.675% |
| With a loan amount of $100,000, you would have 180 monthly payments of $936.98. | ||
| 30 | 7.875% | 7.875% |
| With a loan amount of $100,000, you would have 360 monthly payments of $725.07. |
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30 Year Adjustable Rate Mortgages |
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For those planning to retain their mortgage for a relatively short period of time or want the interest to adjust (based on market rates), we offer a choice of two adjustable rate mortgages that provide lower initial monthly payments and caps on the interest rate. These rates assume a 20% down payment. Contact us for other options. |
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| Product | Interest Rate | APR* |
| 3/3 ARM | 6.925% | 7.437% |
| With a loan amount of $100,000, you would have 36 monthly payments of $660.27 at the initial interest rate of 6.925%. The rate would then adjust every three years based on a margin and index. The current fully-indexed rate is 7.625%, which would result in 324 monthly payments of $704.87. |
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| 5/1 ARM | 7.175% | 7.871% |
| With a loan amount of $100,000, you would have 60 monthly payments of $677.10 at the initial interest rate of 7.175%. The rate would then adjust every year based on a margin and index. The current fully-indexed rate is 8.375%, which would result in 300 monthly payments of $751.44. |
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First-Time Homebuyer & Veteran Loans |
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Make a lower down payment as a qualifying first-time homebuyer or veteran. Different loan terms and fixed payment options (biweekly or monthly) available. |
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HomeAid Loans |
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Our HomeAid affordable home loan program is designed to assist low-to-moderate income applicants; speak with one of our lenders to see if you qualify. Different loan terms and fixed payment options (biweekly or monthly) available. HomeAid program funds are limited and subject to income limitations. Private mortgage insurance may be required. Primary residences only; mobile homes are excluded. Requires automatic payments from a Kennebec Savings Bank account. |
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Construction Loans |
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Pay only interest during construction, with a seamless transition (and no additional closings) into a regular residential mortgage. Different loan terms available. Construction loans require an additional fee based on construction costs and the loan amount; contact us for details. Approved general contractor required. |
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Seasonal Homes |
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For camps, cottages, and other non-year-round properties. Different loan terms, fixed payment options (biweekly or monthly), or adjustable payment options (3/3 ARM or 5/1 ARM) available. |
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Mobile Home with Land Loans |
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For mobile homes on foundations. Different loan terms, fixed payment options (biweekly or monthly), or adjustable payment options (3/3 ARM or 5/1 ARM) available. Mobile homes must be permanently attached to land. |
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Land Loans |
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For land-only purchases with variable interest rates. Different loan terms and adjustable payment options (3/3 ARM or 5/1 ARM) available. |
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Home Equity Loans |
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Take advantage of the existing equity you have in your home today. Home equity term loans provide a fixed rate option that grants you the comfort of knowing your payment will always be the same. Different loan terms and fixed payment options (biweekly or monthly) available. |
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Home Equity Lines of Credit |
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An excellent option for your future borrowing needs by offering the ability to access the equity you have in your home when you want it; even choose how you want to repay it. Different payment options available. |
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* APR = annual percentage rate.
All loans are subject to credit approval by Kennebec Savings Bank. Maximum terms listed. Shorter terms may be available; contact a loan officer for details. Higher loan-to-value financing may be available with private mortgage insurance (PMI).
(Effective Date: Wednesday, September 20, 2023)
