TSB First Time Homebuyer
As Low as 3% Down.
A $600 Closing Cost Credit.
Buying your first home is an exciting responsibility, and Torrington Savings Bank takes great pride in helping our first time borrowers become new homeowners with a special program designed to make buying a first home more affordable.
The Best Loan for Your First Home:
Torrington Savings Bank offers a special program to help first time homebuyers save money on their closing costs while they learn more about the homebuying process. Find out why so many first time home buyers turn to Torrington Savings Bank for their first mortgage. (And why they return to us for future home loan needs!)
- We offer great rates for our borrowers along with the ability to put as little as 3% down.
- Our closing and application fees are among the lowest in the area. Plus, at Torrington Savings Bank, first time borrowers can earn a $600 closing cost credit by participating in our homebuyer education course.
- We lend throughout Connecticut and make it easy for you to apply – whether you prefer to fill out an application online or to drop into one of our convenient branch locations.
Those aren’t the only reasons to get your first mortgage at TSB.
Features
- 30 year fixed-rate loan
- $600 closing cost credit when home buyers education course is completed
- Local expertise and decision making
- Minimum 3% down payment on single-family homes
- Minimum 5% down payment on two-family homes
- Low or No Mortgage Insurance
- Must be owner-occupied 1-2 family homes
- Maximum Loan Amount is $548,250.00
- Let’s get moving! Contact us for more details
How Can We Help?
30 Year Fixed Rate First Time Home Buyer
Effective Date: July 5, 2025
| Rate | APR | Points | ||
|---|---|---|---|---|
| 2.875 | 3.037 | 0 | Get a Personalized Rate | Learn More |
Explore Our Other Options
Refi Boost
Torrington Savings Bank’s Refi Boost allows well-qualified borrowers to refinance and get competitive rates and No Private Mortgage Insurance.
Mortgage Refinancing
When it comes to a home loan, lower rates are not always better. Since you bought your home, your individual needs and circumstances might have changed, but are you a good candidate to refinance?
Construction Mortgage
A Torrington Savings Bank Construction Mortgage is a great option to finance home construction.
Jumbo mortgage
Jumbo mortgage is the industry term for home loan amounts ranging from $548,251 to $2,000,000.
Buyer’s Boost
TSB Buyer’s Boost Mortgage Program allows well-qualified borrowers to get competitive rates while putting as little as 10% down.
Conventional Mortgages
Torrington Savings Bank conventional mortgages offer great rates with flexible term options, and low fees & closing costs.
First Time Homebuyers Details:
Successful completion of our free Homebuyer education course is required to receive the $600 credit towards closing cost. This credit is for First Home Purchases only, and is subject to qualification, credit approval and closing. The discount will be taken at closing time. Maximum loan limit is $647,200.00. Down payments of 10-19% may require mortgage insurance. Less that 10% down requires mortgage insurance. 60-day commitment. Must be owner-occupied 1-2 family homes in Connecticut. Properties with underground oil storage tanks are not eligible. Rates reflect discount for Auto-Pay from a TSB account. Add 0.25% to rate without Auto-Pay. Application fee ranges from $578.59 to $605.87 on single family, existing, owner occupied properties; and $728.59 to $755.87 on new construction. Application fee includes cost of appraisal and credit reports. Consult a loan representative for more details.
