Mortgage lending built on trust and experience

Becoming a homeowner means so much more than buying a house. It’s your home. A place where families come together, memories are made, and futures are planned.

At Webster First, we understand how important financial decisions with your home can be. That’s why our commitment is to you and understanding your unique needs. We’ll help you make the right decision, so you can focus on what really matters

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Mortgage programs

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Fixed Rate

  • As low as 7.060% APR1
  • Your rate and payments are fixed for the life of the mortgage
  • Terms of 15, 20, 30, or 40 years
  • Good option if you plan on staying in your home for longer than 10 years and prefer your payments stay the same

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Adjustable Rate4

  • As low as 6.483% APR1,4
  • Fixed rates and payments to start that are subject to change after a few years
  • A variety of terms are available
  • Good option if you plan on moving in less than 10 years and prefer a lower payment at the beginning of your mortgage

icon depicting a house with the number 1
First Time Home Buyer

  • As low as 7.075% APR1
  • Your rate and payments are fixed for the life of the mortgage
  • A 30 year fixed rate term
  • Great option if you are looking to purchase your first home

Current rates

Type Rate APR1 EMP2 (per $1,000)
Adjustable Rate Mortgages4
5&1 Fixed Variable4 6.500% 6.760% $6.32
7&1 Fixed Variable4 6.625% 6.796% $6.40
7&3 Fixed Variable4 6.750% 6.862% $6.49
10&5 Fixed Variable4 6.875% 6.988% $6.57
Convertible 1 Yr Adjustable4 6.250% 6.585% $6.16
1 Year Adjustable4 6.250% 6.585% $6.16
3 Year Adjustable4 6.375% 6.483% $6.24
7&1 Variable 40 Year4 6.875% 6.973% $6.12
Land Loan3,4 6.250% 6.683% $11.23
Fixed Rate Mortgages
15 Year 6.875% 7.060% $8.92
20 Year 7.125% 7.276% $7.83
30 Year 7.375% 7.494% $6.91
40 Year 7.500% 7.605% $6.58
First Time Homebuyers 7.000% 7.075% $6.65
1:APR = Annual Percentage Rate. All mortgage APRs are for 1-4 unit owner occupied primary residences based on 20% down payment. APRs may vary with lesser down payment. All mortgages with a loan to value of 80% and over require Prime Mortgage Insurance (PMI). Rates subject to change without prior notice. Zero points on all mortgages. Guidelines available upon request.
2:EMP = Estimated Monthly Payment.
3:Land loans 1-10 years, 25% downpayment
4:ARM loans are variable rate loans, interest rates and payments may increase after consummation. Rates and payments will remain the same for the first 5, 7, or 10 years and then can adjust to a new rate and payment every 1, 3 or 5 years based on a current index, depending on the ARM program you choose. For example, if you select the 5 & 1 Fixed Variable program your rate and principal & interest payment will be fixed for the first 5 years (the 5 in 5& 1), after that the interest rate and payment could change every 1 year for the remainder of the mortgage’s term (the 1 in the 5 & 1).

Our mortgage app makes it easy

Looking to buy or refinance a home? Our digital mortgage app makes it easy and convenient.

With one login, you can apply for a loan, complete tasks, securely scan and upload docs, submit payments, check on your loan status, eSign documents, and more. When you start an application online, you’ll find links to download the app to your favorite device.

Sign up on your mobile or desktop

With a single log-in, navigate all aspects of the home buying journey on your preferred device.

To start your loan inquiry in Spanish, click the “Español” button on the account creation page.

Calculate your mortgage options

Easily explore mortgage scenarios to see what you can afford and what your mortgage payments will be.

No need to wait on your loan officer to run calculations for you. This is self-service at its best.

Get pre-approved

Fill out an application from anywhere to get your letter fast.

Don’t waste your time (or paper!) with printed applications or complicated forms.

Authorize credit reporting

Authorize your Loan Officer to run your credit report with the click of a button.

You’ll enjoy having one less paper form to sign and submit.

Automatically verify your information

Verify your income, employment, and assets automatically in the platform.

This means fewer paperwork hassles for you and a faster application process.

Securely scan documents

Upload required documents with our built-in mobile scanner. It’s encrypted and completely secure.

No need to fuss with a physical scanner, unsecured emails, or trips across town.

Get real-time status and notifications

See where your loan is at in the process and what steps you have ahead of you.

Receive notifications when you have new tasks and important updates.

Sign disclosures

Receive and eSign disclosures with ease.

If any documents need to be physically signed, you can print, sign, scan, and upload from your mobile device.

Buy homeowners insurance

Complete your required homeowner insurance tasks before closing.

Upload proof of existing insurance, or compare rates and coverage and purchase a new policy within the platform.

Provide consent

Easily give consent for necessary steps, including the use of electronic signatures and information release authorization.

What to expect after you apply

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We’ll put it together

Your Mortgage Loan Officer will help you gather the necessary documentation and take care of disclosures.

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Our underwriters will pull your credit and make calculations to determine if you are approved for the mortgage. They will also determine your interest rate based on those calculations.

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Processing and appraisal

After approval, our team will process your loan and order your appraisal. When your appraisal is returned, the processors can complete their verifications and put together your Closing Disclosure.

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Our in-house closing agent, WebFirst Mortgage, LLC, will walk you through your final paperwork. Congratulations, you're a home owner! It’s time to celebrate.

Award-winning service

2024: Newsweek Best Regional Banks and Credit Unions

2023 Top Lender: Banker & Tradesman

2023 Winner: Best of Central Mass

Webster First 5-Star Bauer Rating Badge

Rated 5 Stars by Bauer

2022 Top Lender: Banker & Tradesman

How can we help?

Our dedicated loan center team is happy to answer your mortgage-related questions or provide assistance with completing an online mortgage application.

(774) 823-1665

Monday – Wednesday: 8:00 a.m. – 4:30 p.m.
Thursday & Friday: 8:00 a.m. – 5:00 p.m.
Saturday & Sunday: Closed

Your mortgage team

Real Estate Agent/Realtor

Your Real Estate Agent or Realtor will help you find your dream home. You tell them the features you want in a home and what your budget is, then they search. When you’re ready to see a house in person, they will get access to the house and take you to a showing. When you decide to put in an offer, they will communicate with the seller on your behalf.

Mortgage Loan Officer

Your Mortgage Loan Officer (MLO) takes your application for a mortgage. They will collect the necessary personal documents from you like recent paystubs, bank statements, and tax documents. You will mainly communicate with your MLO throughout the whole mortgage process.

Home Inspector/Pest Inspector

Your Home Inspector/Pest Inspector will check out the home you’re looking to buy and make sure that everything is up to code. They create an inspection report that will list everything that may need repairing or replacing in the house. Inspections are never required but are highly recommended.


Your Appraiser visits the home and determines its value based on its condition, number of rooms, and values of other comparable homes in the area.


Your underwriter works with your mortgage loan officer to review the documentation and ensure that all criteria is met for the loan to move forward. They analyze credit reports, income, assets, and liabilities. They decide whether you will be approved or denied for the mortgage.

Mortgage Processor

Your Mortgage Processor assembles your mortgage paperwork and makes sure every page is in order and accounted for. They will verify your employment status and any other mortgages you have.

Closing Attorney

Your closing attorney will work with their paralegal to deal with anything and everything relating to the title of your home. They will run a title exam to make sure there are no liens, easements, or encroachments on the title. In other words, they want to make sure that the title is clear so the mortgage and sale can go through.

They communicate with everyone involved in the real estate transaction including the seller, buyer, lender, home insurance company, city/town tax collector, and the seller’s attorney. They will meet with you on your closing date to have you sign the necessary paperwork and collect your down payment. After that, they are responsible for recording the necessary legal documents at the Registry of Deeds such as your mortgage and deed. And they will disburse the loan funds to the seller. (With a home equity loan they will disburse the funds to you.)

Mortgage Servicer

The Mortgage Servicers are the only people to deal with your loan after it closes. They program your loan into our system, apply payments, generate payoff quotes, and can answer any questions you may have about your loan. If you would like to drop PMI from your loan payment, make a large payment to principal, or pay your escrow deficiency, the mortgage servicers are who you contact.

Mortgage servicers are also in charge of disbursing funds for construction loans. When your mortgage is paid off, if a fee has been collected they will discharge your mortgage at the Registry of Deeds and send you your legal documents to keep for your records. If no fee was collected, they will prepare the discharge documents and forward them to you. It will be your responsibility to send the discharge and fee to the Registry of Deeds in this case.

Protect your home for years to come

We’re pleased to offer homeowners insurance through our subsidiary, WebFirst Insurance, LLC. WebFirst Insurance will work with you to determine the right coverage for your needs, and then search their network of carriers to find the right price.

Learn More

Mortgage FAQs

Do you offer mortgage refinancing?

Yes, Webster First offers refinancing of Mortgages, Home Equity Loans, and Home Equity Lines of Credit.

How do I apply?

You can easily apply online.

Apply Now

Can I get pre-approved or pre-qualified?

Webster First only does pre-approvals. Unlike pre-qualifications, a pre-approval requires a full underwrite and credit pull. You are not locked into an interest rate until we receive a property address.

What documents will I need with my application?

While this varies depending on your situation, our team has put together a list of the standard documents for easy reference. Please note that additional documentation may be requested depending on your financial situation.

Do you offer VA or FHA loans?

Not at this time.

What are your application fees?

Application fees are $350 for a mortgage and $600 for a construction loan.

What is your fee for a late mortgage payment?

Late fees will vary based on your total mortgage payment. See your statement billing information. For example:

mortgage late fee example

What is the difference between a fixed rate and an adjustable rate4?

A fixed rate mortgage will have the same interest rate for your entire term. Adjustable rate mortgages4 will change periodically based on the term you choose. Some adjustable rate mortgages are fixed variables meaning they are fixed for a certain amount of years, and adjusted after that period ends. For example: our most popular type of adjustable rate mortgage (ARM) is our 7&1 fixed variable, which means the rate is fixed for the first seven years and then changes once a year for every year after that. See our rates page for more terms.

Do you offer land loans?

Yes. Webster First land loans are only available as adjustable rate4 loans from 1-10 year terms and require a 25% down payment. See our land loan page for more info.

How do Construction Loan disbursements work?

Construction funds are only disbursed for completed items. We will need the following items prior to your first disbursement being released.

  • Proof of Insurance/Builders Risk Policy
  • Building Permit
  • Proposed Plot Plan


Inspections will be ordered by you, the borrower, through the Mortgage Servicing Department, available by:

  • Phone – 800-962-4452 ext. 4094
  • Email –
  • Fax – 774-823-1842


Once an Inspection has been requested, please allow a reasonable amount of time for the property to be inspected and the report completed, then returned to Webster First Federal Credit Union for approval. Once the report is approved, allow 1-2 business days for the funds to be disbursed.


Options for how funds can be disbursed:

  • Deposited directly into the borrowers Webster First Federal Credit Union account
  • Bank check made payable to the borrower(s)
  • Bank check made payable to borrower(s) and the builder or contractor
How do I bring in my down payment?

Bring a certified bank check/treasurer’s check on the day of your closing.

What do I do in the event of a borrower’s death?

Contact our Mortgage Servicing department at (800) 962-4452 Ext. 4094 and forward them the death certificate for the mortgage file. If there is a co-signer on the mortgage, they will still be obligated to make payments on the loan. Next steps will vary based on what the deceased had planned to pay off the remaining balance on their mortgage (terms in their will, a trust, life insurance policy, etc.). If there were no plans, the credit union may foreclose on the property.

If there was no co-signer, another person can request to be granted successor in interest which allows them to access certain mortgage information/documentation such as a payoff quote. Based on the circumstances, we will request specific documentation to approve a successor in interest request.

I received a check for an insurance claim on my house with Webster First’s name on it. What do I do now?

If you have a lien on your house and an insurance company pays you for damages (such as a fire, tree falling on it, etc.) the check will be made out to both you and the lien holder (Webster First). Our Mortgage Servicing department will be able to help you disburse the funds from the check, but portions of those funds may be held and released to you later. Contact them at (800) 962-4452 Ext. 4094.