Which home loan is the right fit for me?
When buying a home, you want to make sure that your mortgage fits your needs – from the length of your loan and payment options that could reduce the life of your loan and save you money in the long run.
Here are some common questions when trying to decide which home loan is the best option for you.
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What is the difference between a 15-year or a 30-year fixed mortgage? >>
There are advantages to both. Compare the term options and decide which works best for you and your budget.
What is an adjustable rate mortgage (ARM)? >>
Learn more about the loan type that offers you a lower initial interest rate than most fixed rate loans.
What is a bi-weekly mortgage and how can it save me time and money off the life of my loan? >>
Find out how you can save money on interest and pay off your loan faster by simply making bi-weekly payments.
What if I want to build my home?
Can’t find your dream home and want to build it? Great! Our experienced local Community Bankers are here to help you with all of your residential construction loan needs, from obtaining the land to build on to working with your contractor. We offer single close construction loans with up to 95% financing, with private mortgage insurance (PMI). When financing up to 80% of the appraised value, you will have interest only payments for the first 12 months. Get started >>
I'm a first time home buyer, what benefits could I take advantage of?
As a first-time home buyer, you can take advantage of the Maine State Housing’s First Home Loan. With this loan, you can borrow up to 100% of the purchase price of your home while enjoying reduced interest rates (often lower than current conventional loan rates), assistance with closing costs and have your taxes and insurance added to your payments. Learn more >>
Do you offer first responder or military discounts on mortgages?
In our appreciation of first responders and those in the military, our Maine Hometown Hero and Military Appreciation and loans offer reduced closing costs on home loans for police, fire, EMT and those who are active or retired military. We also offer VA loans. Contact one of our Community Bankers for more information on these programs. Connect with a Community Banker today >>
Do you offer loans on vacation homes, second homes, manufactured, mobile homes or investment properties?
We do and more! Visit our home loans page to see all of the types of home loans that we offer. View home loan options >>
Mortgage Tools
At Skowhegan Savings, we want to make the mortgage process less complicated by providing you the tools and information you need to make the right decision. We'll work with you every step of the way through the home buying journey.
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