mortgage loan products

ESB Bank offers the following Mortgage Loan Products.

• Purchase & Refinance Loans
• New Construction Loans
• Blanket Mortgages
• Rehabilitation (Rehab) Loans
• Investment/Vacation Home
• First Time Home Buyer Program
• Combo Loans
• Home Ownership Mortgage Program (low/moderate income)
• Home Rehabilitation Mortgage Program (low/moderate income)

Contact your ESB Bank Consumer Loan Specialist today
to design the loan that is right for you. 

Purchase & Refinance Loans return to top

Financing the home of your dreams?  Looking to refinance your existing mortgage at a lower rate?  Whatever your need, ESB has the right mortgage product or service to address your situation.  We offer varying terms with either fixed or adjustable rates.  And because of our affiliation with a closing company, we make the lending process smooth, easy and fast – with turnaround times as little as a few weeks, depending on your situation.

New Construction Loans return to top

Building a new home can be exciting and rewarding…but it can also be challenging.  Thankfully, the construction loan specialists at ESB Bank can ease the way.  We offer construction loans that allow you to lock in your interest rate now, with an upfront closing that keeps your costs low.  Funds are then disbursed to the builder in phases, and you only pay interest on the funds as they are disbursed.  When the home is finished, your loan is then rolled into your mortgage at the rate you locked in months earlier.  It’s the simple, stress free way to build and finance the home of your dreams.

Blanket Mortgages return to top

You don’t have to sell your current home when starting the new construction process.  With an ESB blanket mortgage, you can tap into the equity in your current home to help finance construction.  We can lend you up to the total cost of the new construction (depending upon the available equity).  After your current home sells, we reduce your new construction loan by the equity you netted from the sale.  And you end up where you want to be…in your new home with an affordable monthly mortgage payment. 

Rehabilitation (Rehab) Loans return to top

Whether you are purchasing a home that needs updating, or your current home is in need of repairs, an ESB rehab loan is the right fix for you.  We are one of only a few banks in the area that specialize in financing the rehabilitation of existing properties.  You find the right contractor to do the work and we take it from there, at the same rates we offer on all of our construction loans. 

Investment/Vacation Home return to top

At ESB we can finance either the purchase or the refinance of your investment property or vacation home.  Same great products we offer all ESB loan customers!

First Time Home Buyer Program return to top

ESB Bank provides a rate discount for First Time Home Buyers! (All borrowers on the loan must qualify for the first time home buyer status in order to be eligible for the rate discount.)

Combo Loans return to top

Combo loans, also known as “piggy-backs”, 80-10-10's or 80-15-5's, are a non-PMI alternative for borrowers without the required 20% cash down payment.  This product consists of two separate loans, whereby a second mortgage loan is made in addition to the first mortgage.  The sum of the first and second mortgages cannot exceed 97% of the lower of the sales price or the appraised value.  We offer Combo packages on purchases, refinances and construction loans.

Home Ownership Mortgage Program return to top

With an ESB Bank Home Ownership Mortgage, a qualified borrower can benefit from a below-market interest rate, reduced fees and 97% financing.  “To qualify, the borrower’s earnings must be at a low to moderate income level, or the home being purchased or refinanced must be located in a qualified low to moderate income census tract.” 

Home Rehabilitation Mortgage Program return to top

An ESB Bank Home Rehabilitation Mortgage offers the same eligibility criteria and great benefits as a Home Ownership Mortgage, but with an added benefit – the ability to use the funds to repair or update a property.  “To qualify, the borrower’s earnings must be at a low to moderate income level, or the home being purchased or refinanced must be located in a qualified low to moderate income census tract.”  A home rehabilitation loan from ESB can turn any house into the home of your dreams.  And as one of the few banks in the area that specializes in these loans, you can count on ESB to make the process smooth and stress-free.