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At Winchester Savings Bank, we’re dedicated to helping you build and grow your business. That’s why in addition to great rates on loans, we also offer expert advice and innovative financing solutions. Our seasoned commercial lenders have over 30 years of experience, so they will be able to review your requests quickly and efficiently. As an independent, community bank, we are especially committed to serving local businesses like yours. You can count on us for attentive service and fast turnaround, as well as a comprehensive array of commercial lending products. Topics available on this page:Commercial Mortgage Loan Rates Underwriting Parameters Collateral Types Business Loans and Lines of Credit Commercial Depository Services Business Checking Account |
The following rates and terms are an indication of our present offerings. Approved rates and terms may vary slightly based on the characteristics of the specific request.
Rates Effective March 8, 2010.
Commercial Mortgage Loan Rates
| Initial Rate | 3-Year ARM | 5-Year ARM | 7-Year ARM |
| Commitment Fees | $0 | $0 | $0 |
| Application Fee | $0 | $0 | $0 |
| Prepayment Penalty | $0 | $0 | $0 |
| 1-4 Family Residential | 5.125% per annum | 5.375% per annum | 5.875% per annum |
| Multi-Family & Commercial | 5.375% per annum | 5.625% per annum | 6.125% per annum |
| Index | 1-year UST | 1-year UST | 1-year UST |
| Spread | 3.25% | 3.25% | 3.25% |
| Caps | 3% / 6% | 3% / 6% | 3% / 6% |
| Term | Up to Amortization | Up to Amortization | Up to Amortization |
| Amortization | Up to 30 Years | Up to 30 Years | Up to 30 Years |
Under the above programs, the interest rate is fixed for three, five, or seven years. Therafter, the interest rate will adjust up or down, every year, to the then current index value, plus the margin. However, the rate will not increase or decrease more than 3% per annum at any one adjustment nor 6% per annum over the loan's term. Rates and terms may vary based upon the specific request. Subject to change without notice.
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Underwriting Parameters
| Collateral | Loan-to-Value |
| 1-4 family residential | < 75% |
| Multi family & mixed use property | < 70% |
| Owner occupied property | < 70% |
| Investor office condominiums | < 70% |
| Raw land | < 40% |
| Debt Service Capacity > 1.2x (Net operating income / debt service) | |
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Collateral Types
- 1-4 family residential
- 5+ Residential units
- Office buildings and Office suites
- Retail building
- Industrial space
- All other properties (commercial, industrial, and development)
- Mixed-use properties
Business Loans and Lines of Credit
We have the resources to help you achieve your dreams of success. Our lending products can finance a variety of business needs, including:
- Vehicles
- Inventory
- Equipment
- Leasehold improvement
- Other business assets
Commercial Depository Services
Winchester Savings Bank offers a full complement of depository services, including:
- Low-cost business checking (details below)
- Dedicated commercial teller at our main office
- Convenient locations and hours
- Night deposit chute
Business Checking Account
Our low-cost business checking account provides valuable earnings credits that will be applied towards certain fees and charges you may incur.
| Monthly maintenance service charge: |
$10 |
| Each check cleared: | $0.15 |
| Each deposit: | $0.50 |
| Each deposit item: | $0.10 |
| Earnings credit: | $0.33 per $100.00 average collected balance |
DISCLAIMER: All product offers, rates, terms, and other information provided is subject to change without notice.
