Frequently Asked Questions | FAQ's

Mortgage closing costs vary, depending on the type of transaction (purchase or refinance), size of the loan and whether or not you are paying "points”. Additional services such as legal review of a trust or, power of attorney and other ancillary services may add to the fees that we charge as these services add to our costs to process and approve your loan.
 

Typically, you can close your mortgage loan within 45 days of application, depending on the time of year and the type of transaction. We can sometimes close sooner than that, depending on the transaction and the timeliness of information and documentation provided.
 

We do offer rate locks on residential mortgages, for almost any term needed: 30-, 45-, and 60-day locks, or longer. Additional fees and/or higher rates may apply for locks in excess of 30 days. Please call one of our mortgage representatives at 1-888-705-9596 to get more information.

 

Yes, we have many programs to meet the needs of first-time buyers. Our Welcome Home Program helps buyers with low to moderate income levels offering low rates and down payment requirements. In addition, we participate in New Hampshire Housing, FHA, and several other programs designed to meet the needs of first-time homebuyers. We also offer free prequalification by phone or in person to potential homebuyers to determine the best mortgage programs to fit their specific home buying needs.

Yes, as a credit union, St. Mary's offers a wide variety of portfolio loan programs for non-conforming properties and other situations where more flexible lending guidelines may be appropriate.

Yes, we offer mortgage loans for investment property. Our most popular program for 1- to 4-unit investment properties allows for a relatively low down payment and no points. We also offer financing for large, multi-unit properties (5+ units) and mixed-use properties through our commercial lending division – call 603-629-1540.

We do! We offer second and vacation home financing. We can also finance three-season homes and summer cottages with one of our portfolio programs. To find the mortgage program that best meets your needs, please contact one of our mortgage representatives at 1-888-705-9596.

You will be provided with a "Closing Disclosure" form three (3)-days prior to your scheduled closing date. The "Closing Disclosure" will state the specific amount of funds that you are required to bring to closing in the form of a cashiers/bank check, made payable to the closing agent.

Three (3)- days before your scheduled closing, you will receive a call from the settlement agent letting you know if you need to bring a certified check to the closing and exactly how much it needs to be.

A picture identification, copy of your insurance binder (or existing policy) with a paid receipt and a certified check for any monetary amount required.

Yes, we will provide you with a copy of your appraisal as soon as it is available.

The correct wording is as follows:

St. Mary's Bank, Its Successors and/or Its Assigns, As Their Interest May Appear
c/o Loan Servicing
48 Perimeter Road
Manchester, NH 03103