Today's Rates

30 Year Fixed Bi-Weekly with Auto-Pay 3.550% 3.598%
20 Year Fixed Bi-Weekly with Auto-Pay 3.100% 3.170%
15 Year Fixed Auto-Pay 2.750% 2.840%
10 Year Fixed Auto-Pay 2.500% 2.631%
1-Year ARM with 15-Year Term 1.875% 1.856%
1-Year ARM with 10-Year Term 1.875% 1.905%
3-1 ARM with 15-Year Term 2.500% 2.124%
3-1 ARM with 10-Year Term 2.250% 2.143%
Home EquityRateAPR
5 Year Fixed HE Loan 2.970% 3.302%
15 Year Fixed HE Loan 4.610% 4.733%

Click on the Rate or APR for payment information.

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* Today's Rates do not apply to Massachusetts properties. For rates on Massachusetts properties, click for a personal quote.

Free Pre-qualification & 
Rate Lock 

Our free Mortgage pre-qualification allows you to find out upfront how much of a mortgage you will qualify for. Save time and money by looking for homes in your price range. We will provide you with a pre-qualification letter so you can shop for your new home with confidence.

At Merchants Bank, you have the option to lock in the current interest rate for 60 days, free of charge - at any time from when you first submit your application to when your closing interest rate is set. You can lock in the rate during the online application process or by contacting your loan officer.

Apply Online for Local Mortgage

Whether or not you lock in your rate, the closing interest rate will be set 10 days before your scheduled loan closing date.

  • If your rate is locked, and rates are higher when your closing rate is set, we will honor your lower locked-in rate.
  • If rates are lower when your closing rate is set, you will receive the lower rate.
  • If your rate is not locked, you will receive the rate in effect at the time.

After the loan closing date is scheduled and your closing interest rate is set, you will be charged a $250.00 re-documentation fee in the event that we have to recreate documents for changes you make that affect your loan closing date and or documentation, plus any additional fees incurred for updating the title work.

Our local mortgage team is happy to help you find the right home loan for your needs. We’ll help you compare options, including overall costs, monthly payments, terms, and conditions. If you prefer, you can apply online.

View loan rates.

*Mortgage is subject to credit approval.