Loan Products

Mortgage Loans

Get Pre-Approved Today
If you're planning to purchase a home, we recommend you start by getting pre-approved for a mortgage amount that fits your budget. Once you are pre-approved, we'll provide you with a Pre-approval Letter that confirms your ability to receive financing and strengthens your negotiating power when you offer to purchase a home. Whether you choose to get your pre-approval online or from our Mortgage Consultant by calling 508-533-8661, you’ll be prepared to make an offer quickly.

Online Mortgage Center
Visit Medway Co-operative Bank’s Online Mortgage Center with 24-hour access. And with the highest level of encryption and online security, rest assured that your personal information will remain secure. You’ll find helpful tips and valuable information to help you choose the best mortgage loan program. In addition, you can easily access some of these great features:

	Current Mortgage Rates
	Pre-approval applications that give you instant Pre-approval Certificates
	Mortgage applications with instant approval decisions
	Mortgage applications that allow you to begin entering your information, save it and complete it at a later time.
	Rate Watch that lets you select your ideal interest rate and mortgage program. We’ll notify you when rates hit your target range.

It’s quick and easy, so visit Medway Co-operative Bank’s Online Mortgage Center today!

Home Equity Programs

Your home may be the largest investment you have ever made. It may also be the best—and for that, we think you deserve some credit. Medway Co-operative Bank’s Home Equity Lending Programs help you tap into your investment and take advantage of the equity you’ve built in your home.

Home Equity Line of Credit
Enjoy the convenience of accessing funds from your equity line when needed, to pay for everything from a new car and school tuition to home improvements or consolidating your debt.

	No points and no closing costs
	No application fee or annual fee
	Adjustable rate line of credit equal to the Prime Rate as published in The Wall Street Journal*
	You may borrow up to 80% of the value of your owner occupied 1-4 family home, less your first mortgage amount, to a maximum of $150,000*
	Equity line checks provided for easy access to funds
	You may draw from your equity line for a maximum of 10 years
	Interest only payments will be billed each month on a detailed statement
	A 10 year repayment period of principal and interest will begin following your 10 year draw period*
	No prepayment penalties
	The interest you pay may be tax deductible, though we advise you to consult with a tax advisor

*Check our rates or call us at 508-533-8661 for current rates on our Home Equity Line of Credit program.

Home Equity Loan
Finance an upcoming project with the guaranteed stability of a fixed rate home equity loan.

	No points or application fees
	Fixed rate and fixed monthly payments over the life of the loan
	You may borrow up to 80% of the value of your owner occupied 1-4 family home, less your first mortgage amount, to a maximum of $150,000*
	The full amount of your loan will be provided to you in one lump sum
	No prepayment penalties
	The interest you pay may be tax deductible, though we advise you to consult with a tax advisor

*Check our rates or call us at 508-533-8661 for current rates on our Home Equity Loan program.

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Consumer Loans

Choose from a variety of consumer loans to match your financing needs.

Auto Loans
Finance your next purchase of a new or used automobile*

*Check our rates or call us at 508-533-8661 for current rates on our Automobile Loans.

Education Loans
We are pleased to offer Federal Stafford Education Loans for undergraduate and graduate students & Parent PLUS Loans for undergraduate students.

Federal Stafford student loans are some of the most affordable financial aid tools available to students and families, with interest rates lower than most other forms of financing and deferred payments until after graduation. Stafford student loans can also be consolidated after graduation, making them even more affordable.

The Federal Parent PLUS Loan for Undergraduate Students enables parents and family members with good credit histories to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time in an approved college or university.

You may also want to consider supplementing college financing expenses with Medway Co-operative Bank’s Home Equity Line of Credit.

*Call us at 508-533-8661 for more information.

Passbook Collateral Loans

	Borrow against your account balance and continue to earn interest at a competitive rate.
	You may borrow up to 95% of your account balance.
	You’ll pay just 2% above the rate you’re earning on a Savings Account and 2-½% above your CD rate.
	We’ll bill you each month for interest only.
	Stop by anytime during banking hours. It’s easy to set up and you’ll receive your check right away.

*Call us at 508-533-8661 for current rates on any of our lending programs. To best serve our customers, Medway Co-operative Bank will originate loans only within our market area.

Overdraft Line of Credit

	Minimum line of credit is $500
	Maximum line of credit is $1,500
	Overdraft summary included in your monthly checking account statement
	Minimum monthly payment based on your outstanding balance and current interest rate
	Choose to have minimum payment automatically deducted from your checking account or make your own payment each month

5Star Credit Card
Medway Co-operative Bank's 5Star Visa or MasterCard offers low rates, no annual fee and you can earn points towards your choice of rewards - free airfare, gasoline rebates, or a free hotel stay. There is also a low introductory rate - Click here for details or to apply today.

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