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Country Bank for Savings, a Massachusetts chartered mutual savings bank with its Main Office located at 155 West Street, Ware, Massachusetts 01082, is applying with the Federal Deposit Insurance Corporation for permission to establish a full-service branch office at 158 North Main Street, Uxbridge, MA 01569. Any person wishing to comment on this application may file his or her comments in writing with the regional director of the Federal Deposit Insurance Corporation at the appropriate FDIC office located at 15 Braintree Hill Park, Suite 200, Braintree, MA 02184-8701 not later than 15 days from the date of this publication. The non-confidential portions of the application are on file at the appropriate FDIC office and are available for public inspection during regular business hours. Photocopies of the non-confidential portion of the application file will be made available upon request.

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COMMUNICATIONS CENTER

What you need to know about Loan Level Pricing Adjustments (LLPA)

Posted on May 23, 2023

You might have heard in the news that it has become more expensive for some borrowers to obtain a mortgage. At County Bank, we believe in educating our borrowers and being fully transparent about what factors into closing costs and interest rates and we wanted to break down some of the information you may have heard.

As a result of the housing crisis in 2008, Government Sponsored Enterprises, Fannie Mae and Freddie Mac, imposed loan-level pricing adjustments, known as LLPs, which are fees charged to mortgage borrowers who obtain conventional mortgage loans. LLPA’s are calculated based on various factors, including credit score, loan to value, and type of collateral (i.e., single-family home, multi-family home, condo). LLPAs can be paid by the borrower in the form of fees added to the closing costs, or fees can also be factored into the interest rate and paid over the course of the loan.

Country Bank offers various products that do not have these LLPA fees. We would be happy to review all of our mortgage products to ensure that the one you select is best suited for your lending needs. Don’t hesitate to contact our Loan Officers with any questions; we’d welcome the opportunity to make a difference in your homebuying experience.

Click Here to learn more about our Mortgage Options.

Click Here to learn more about our Loan Officers.

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