Mortgage Loans

Since 1887, Milford Federal has been committed to serving the needs of the local community. We believe that everyone deserves to achieve the American dream, and we strive to make home ownership a reality. Our competitive pricing and exceptional customer service have made us one of the leading residential mortgage lenders in our area.

Loan programs

Our experienced loan specialists will help determine what type of loan is right for you. We offer a wide range of fixed and variable loan programs at competitive rates with reasonable closing costs and expeditious turn around time. A closing cost credit is available for our EZ Checking Plus members, first time home-buyers, and for applying for a purchase loan online.

Local decisions, local servicing

All loans are underwritten and approved locally and at Milford Federal we service your loan locally as well. When you borrow from us, your mortgage stays right here for your convenience. If you have a question, need to pay your bill, or want to refinance your existing loan, you can always deal directly with a Milford Federal employee.

Convenience The loan applications process is quick and easy. Visit us at one of our four conveniently located branches or apply over the phone. We even offer EZ Mortgage Online, so you can apply for a mortgage anytime, anywhere from your personal computer. You can also take advantage of Rate Watch, a free email service that will inform you of the latest rates on a daily, weekly or monthly basis – and can alert you when your target rate becomes available.

Fixed Rate Mortgage

  • Terms from 10 to 30 years
  • No point/no closing cost options available
  • No escrows
  • No pre-payment penalties

Adjustable Rate Mortgages (ARM)

  • Fixed periods of one, three, five, and seven years available

Construction Loans

  • Purchase land and build
  • Build on land you already own
  • Interest only for the first six months
  • One closing – no need to refinance

Specialized Financing

  • Investment Properties
  • Vacation Homes

Apply Now! Shop and compare . . . and then see us for the rates and terms you want and the added convenience of our free private consulting service to help you through all the steps of applying for a mortgage. Our mortgage specialists are on hand to help you get started. Early morning, evening, and Saturday appointments are available. Pre-approvals are provided at no charge. So call one of our mortgage specialists, visit EZ Mortgage Online, or stop by one of our offices so that we may assist you with all of your financial needs. Main Office 800-478-6990, Whitinsville Plaza 800-357-2265 in Massachusetts, and 800-678-4779 in Rhode Island.

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