Home Loans

Making Your Dreams A Reality

Everyone dreams of owning their own home and we'd like to see you get the home you want. Whether you are buying a home, refinancing, building a new home, or looking to use the equity you've built in an existing home to make home improvements, Aroostook Savings & Loan's lending experts can help you decide which loan program is right for you and your specific needs. And, if you are still saving for a down payment, we also offer a rewarding Down Payment Savings Program to help you grow your savings faster.

Aroostook Savings & Loan does not sell our loans on the secondary market. We are committed to servicing all loans in-house and we keep all our loans in our local portfolio from application until final payment. Any questions or problems can be handled right here at Your Home Bank. We do not charge loan points and our closing costs are very low. We also offer an optional account to save for your annual real estate taxes and insurance.

In addition, we offer loans with a traditional 20% down payment and also home loans with only a 10% down payment without requiring mortgage insurance.

We have various interest rate products with flexible terms including fixed interest rates, six-month adjustable interest rates, three-year adjustable interest rates, and home equity credit lines.

So when you're ready to build, buy, improve, or refinance...make your first step a visit one of the best – Your Home Bank. Come visit or contact one of our friendly, lending experts today!

  • Adjustable Rate Home Loan

    Get a better rate on our Adjustable Rate Home Loan! Our most popular mortgage is the 3-Year Adjustable Rate Mortgage. Depending on the plan, adjustment periods can vary. Over the years, people have enjoyed seeing their rate come down during lower rate times and see their interest rate stay fixed during short term increases in interest rates nationally.

  • Fixed Rate Home Loan

    Our Fixed Rate Home Loan offers terms from one to twenty years and an interest rate that remains the same throughout the term of the loan. In addition, your Home Loan payment will also remain the same from your first payment to your last.

  • Construction Loans

    Do you dream of building your own home? Aroostook Savings & Loan wants to help your dream come true! Whether you want to build it yourself or hire a contractor to build it for you, our construction loan programs are designed to provide as quick and simple of a draw process as possible, from application to certificate of occupancy.

    Be sure to have the following items for our consideration when meeting with us for a construction loan:
         • A sketch or plan of the property to be built or improved
         • A complete list of estimated costs and materials with signed quotes
        Other information may be requested, such as, but not limited to, building permits,
        adequate water test, soil test or other permits.

    If building a home of your own is important to you, you’ll find it important to know that Aroostook Savings & Loan’s construction loans are second to none. You’ll find experienced, accessible loan officers, flexible loan programs featuring competitive rates, speedy processing and low fees for a loan tailored to fit your needs. Your Home Bank offers customized service; each customer is unique and therefore each construction loan is serviced with the homeowner's needs in mind.