COVID-19 Updates - Important information regarding branch & service availability, remote banking options, resources for financial hardship, and more: Click Here

UMassFive has been approved to be a lender of the SBA's Payroll Protection Program (PPP) as a part of the recently passed 2020 CARES Act, and will be eligible to process PPP loans through the SBA's loan delivery system as soon as this system is made available to us. Please email our Commercial Services Division for additional information.

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Are you in the market for a home, or looking to make improvements or repairs? We can help. We've got mortgages, home equity loans, home improvement loans, and everything else you need to make your space your own.

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Mortgages

All of our mortgage options are provided by Member Advantage Mortgage, LLC (MAM). Owned and operated by Credit Unions, MAM has member-focused solutions and major-lender options.

  • A wide range of loans. From traditional fixed, to variable rate, or FHA.
  • Quick closings
  • Fast and easy application & approval online, over the phone, or in person.
  • Flexible hours and locations, including home visits, as well as evening & weekend appointments
  • Can originate loans outside of New England

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Fixed Home Equity

Let the equity that you've built in your home work for you with a rate that won't go up for the life of your loan. Use a Fixed Home Equity Loan to:

  • Consolidate existing debt
  • Lower your interest rate
  • Finance home improvements up front
  • Retire Your Mortgage with our special offer including no closing costs on balances greater than $25,000

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Home Equity Line of Credit

Similar to a Home Equity Loan, you're letting the equity you've built in your home work for you, but this line stays open, and you can borrow as much, or as little as often as you want. 

  • Borrow up to 90% of your home's equity
  • Or up to $250,000 in credit
  • Interest-only payment options available
  • No application fees, or annual fees
  • No prepayment penalties
  • No closing costs for home equity lines $25,000 or greater
  • Home equity checks are available - pay contractors, electricians or others with ease!

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Home Improvement

Our home improvement loans are perfect for small projects. We've designed them to be paid down quickly, so you can get what you want done without worrying about tying up the equity in your home. 

  • Set monthly payments
  • Low limits
  • Does not put a lien on your home's equity.

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Medical Mortgage Program

A special mortgage available to medical residents, specialization fellows, and physicians.

  • 5% minimum down payment
  • Down payment, and closing costs can be 100% gift funds
  • No Private Mortgage Insurance (PMI)
  • Special financing terms
  • Please contact Tom Keville for more information and to apply

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