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Newburyport Bank
Home/Borrow/40-Year Mortgage

A 40-Year mortgage for your journey home

We offer an extended-term, fixed-rate mortgage designed to help first-time homebuyers navigate the market with more manageable monthly payments.

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A man and woman dance barefoot together in their bright, modern kitchen—perhaps dreaming of a home made possible by a 40 year mortgage. White cabinets and fruit complete the scene.

A home loan made for long-term plans

Our 40-year mortgage pairs extended-term flexibility with local expertise, so you can enter the home-buying process with confidence and stability.

Lower monthly payments

Greater purchasing flexibility

Fixed-rate stability

Local guidance

Purpose-built for first-time buyers

Is a 40-year mortgage right for you?

For some buyers, a 40-year mortgage offers more affordable monthly payments, while a 30-year mortgage prioritizes faster equity growth. One of our lenders can help you weigh both.

Consideration
40-Year Mortgage
30-Year Mortgage
Monthly payments
Lower
Higher
Total interest paid
High over time
Lower over time
Equity growth
Slower
Faster
Best for
Budget flexibility and affordability
Faster payoff and equity building

DISCLOSURES

Loan subject to credit approval. Minimum credit score of 700 required. This product is available to first-time home buyers only; existing customers may not be refinanced into this term. Rates and terms may vary based on creditworthiness and loan characteristics. A longer loan term may result in a lower monthly payment, but higher total interest paid over the life of the loan. Available for single family primary residence only. Not all borrowers will qualify. Other restrictions may apply.

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Meet our mortgage lenders

Our mortgage team knows the region because it’s home to them. That insight and community connection enable us to provide thoughtful guidance and financing solutions that help you to move forward with confidence.

A man in a dark suit jacket and white dress shirt poses against a plain, light background, looking directly at the camera.
Kevin Hulse Vice President, Senior Mortgage Loan Officer
NMLS #1607746
Phone Number: 603.842.8454 Phone Number: 978.518.9330
Start an Application
A woman with shoulder-length blonde hair, wearing a navy blazer over a white patterned shirt, smiles at the camera against a plain, light-colored background.
Kathie George O’Neil Vice President, Senior Mortgage Loan Officer
NMLS #811678
Phone Number: 603.498.9662
Start an Application
A man with short brown hair and a trimmed beard, wearing a navy blue suit and white shirt, stands smiling against a plain light gray background.
Joshua Sanchez Vice President, Senior Mortgage Loan Officer
NMLS #2004276
Phone Number: 978.225.8778 Phone Number: 978.476.9663
Start an Application

40-year mortgage FAQs

Who qualifies for a 40-year mortgage?
This program is available to eligible first-time homebuyers. Qualification depends on income, credit, and other underwriting factors.
Is this a fixed-rate mortgage?
Yes. Once you lock in your rate, your principal and interest payments remain the same for the full 40-year term.
Will I pay more interest over time?
Yes. Because the loan term is longer, total interest paid over the life of the loan is typically higher than with a shorter-term mortgage.
Can I refinance later?
Many borrowers choose to refinance into a shorter-term mortgage in the future, depending on market conditions and financial goals.
Is a 40-year mortgage right for me?
It can be a strong option if monthly affordability is your priority. A local lender can help you weigh the benefits and trade-offs.