Easy Pre-qualification Process

At Butler Bank our goal is to make home ownership a reality for anyone looking to buy his or her first home. Butler Bank’s simple 15 minute pre-qualification process is easier than ever.

A summary of the loan terms follows:

• No application fee
• No points
• Owner occupied residential 1 – 4 family in Andover, Lowell and surrounding towns
• Down payment at least 20% of appraised value or purchase price (whichever is less).
• 10/1 Adjustable Rate Loan Program
• Interest rate fixed for 10 years. Cap of 1% per adjustment period, 6% over the life of the loan.

What documents are needed to start processing my mortgage?

• Two current pay stubs
• Copies of your W-2 from the last 2 years
• Last 3 years signed tax returns, all schedules, and year-to-date P&L statement
• Passbooks
• Checking Account Statements: Last 3 months
• Investment Statements, e.g. IRAs, 401K: most recent
• If applicable, Landlord name and address: 2 year history
• Purchase: Signed Offer to Purchase and/or signed Purchase and Sale agreement
• Open Loans: Most recent statement showing names, addresses, account numbers, balance and payments
• Most recent credit card statements

To apply, or for further information, please call Donna Hauswirth or Cindy Bluestein at 978-259-1000.