A home loan with a heart.
If you’ve been renting and your heart is longing for a home of your own, you may qualify for Pentucket Bank’s 40-year mortgage. This special loan program extends your monthly payments over 40 years, making homeownership easier and more affordable than with other programs. Go from hoping and wishing, to making it happen—because you should have what’s closest to your heart.
- Monthly house payments are lower than other traditional loan programs.
- You may qualify for a larger loan amount.
- You get personalized support from our local loan officers.
- You can lock in your rate with this fixed-rate mortgage.
Get a mortgage that fits you?
At Pentucket Bank, we support you on your path to homeownership—and our 40-year mortgage option can help you get there with lower monthly payments and added flexibility. Welcome to the starting point of achieving what’s in your heart.
Contact a loan officer or visit your nearest Pentucket Bank branch to learn more about this loan.
|
Jody P. Ronayne
 Vice President
Mortgage Loan Officer
NMLS # 531518
|
Ellen Roche
 Vice President
Residential Loan Officer
NMLS # 46794
|
|---|
Meet the Pentucket Bank Mortgage Lending Team
Why a 40-year?
A 40-year mortgage allows you to make lower monthly payments on your home than you would if you had a traditional 30-year mortgage, because your payments are distributed over 40 years. Those reduced payments free up your budget so you can focus on what matters most. Also, since this is a fixed-rate mortgage, once you lock in your rate, your principal and interest payments stay the same over the entire 40 years.
How does a 40-year mortgage work?
With this extended-term financing solution, your payments are spread over four decades, instead of the typical three decades, so you pay less each month. Our loan officers will get you pre-approved quickly so you know how much house you can afford.
Should I do a 40-year or a 30-year?
While a 40-year mortgage may provide reduced monthly payments and greater flexibility in your budget, you’ll end up paying more interest over the life of the loan than you would with a 30-year or lesser term mortgage. Also, the longer your term, the longer it takes to build equity. If you prefer to pay less interest over the life of the loan and to build equity faster, you may prefer a 30-year mortgage, which means higher payments.
Payment example is based on a Purchase price of $500,000 with a $100,000 down payment and a 40-year fixed-rate mortgage loan of $400,000 at an interest rate of 6.625% (6.669% Annual Percentage Rate (APR). Monthly interest and principal payment would be $2,377.54. Payment example rate is effective as of 7/09/25 and may not reflect current rates. Please contact Pentucket Bank for current rates. Payment does not include taxes, insurance, or Private Mortgage Insurance (PMI); actual payment obligation may be higher. PMI is required for loans with a loan-to-value (LTV) greater than 80%. Loan subject to credit approval. Minimum credit score of 700 required. This product is available to first-time homebuyers only; existing customers may not be refinanced into this term. Rates and terms may vary based on creditworthiness and loan characteristics. A longer loan term may result in a lower monthly payment, but higher total interest paid over the life of the loan. Available for single family primary residence only. Not all borrowers will qualify. Other restrictions may apply.