Home/Borrow/First Time Homebuyer

An extended-term 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 extended 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 an extended-term mortgage right for you?

For some buyers, an extended 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	Extended-Term 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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Get started with one of our lenders

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Kevin Hulse

Vice President, Senior Mortgage Loan Officer

NMLS #1607746

P: 603.842.8454 / P: 978.518.9330
E: khulse@newburyportbank.com

WORK WITH KEVIN

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Kathie George O’Neil

Vice President, Senior Mortgage Loan Officer

NMLS #811678

P: 603.498.9662
E: kgeorgeoneil@newburyportbank.com

WORK WITH KATHIE

Extended Mortgage FAQs

Who qualifies for this mortgage?

This product is available to first-time homebuyers with a minimum credit score of 700. It’s not available for refinancing existing loans. All loans are subject to credit approval, and rates and terms may vary based on creditworthiness and loan characteristics.

Is the rate fixed for the full term?

Yes. Your rate is locked in for the life of the loan. It won’t change regardless of what happens to market rates. That’s the stability that makes this product a good fit for buyers who want predictable payments from day one.

Can I refinance into this loan if I already have a mortgage?

No. It’s only available to first-time homebuyers, existing customers can’t refinance into this term.

How do I know if this is the right loan for me?

If lower monthly payments would make homeownership more accessible for your budget, without giving up the stability of a fixed rate. It’s worth a conversation. Our local mortgage team can walk you through the numbers and help you decide what makes sense for your situation.