Loans
Mortgages
For more than 100 years Bar Harbor Savings & Loan has been the area's community bank for affordable housing mortgages. We have a unique tradition of competitive rates, prompt decisions, low closing costs and excellent personal service.
- Bar Harbor Savings & Loan offers a variety of fixed rate mortgages.
- Customers are pre-approved with no cost or obligation.
- All rates are locked in for 60 days at application for no additional fee.
- We offer financing up to 97% with private mortgage insurance.
- We service all loans we originate.
We currently make mortgages for the following:
- Primary residences up to four units
- Construction loans to permanent financing
- Land purchases if part of a construction loan package
- Vacation homes and investment properties
- Multi-family properties
- Commercial properties secured by real estate
- Modular homes
- Manufactured housing
- Second mortgage loans, home equity loans, and weatherization and energy efficiency improvement loans
Please contact Rhonda Sawyer (NMLS # 1162924) or Evan Sweeney (NMLS # 2521787) at 207-288-3685 for current rates and further information.
Secure Loan
Check out our CD secured loan
Borrowing against your CD can be a quick way to get cash for a project or emergency without wiping out your hard-earned savings. Borrow up to 90% of the value of your CD, and your savings will still be earning high certificate of deposit rates.
Trying to establish a good credit rating?
Trying to establish credit when you are just starting out or have a cash-based business can be tough. Taking out one of our Secure Loans and making regular payments can help that credit history get started.
Instant approval with cash-in-hand
We can get you approved and cash in hand in no time. Unlike traditional loans with applications and waiting time, we offer same-day approval on Secure Loans. If you need cash for an emergency, avoid early withdrawal penalties, complicated paperwork, and get your cash right away with our Secure Loan.
- Improve credit
- Same day approval
- Keep your savings intact
- No application
Construction Loans
Whether doing a major renovation, adding on to your home or building from the ground up, paying attention to every nail hammered will pay off in savings. If you are planning to finance your project, call the bank that pays attention to detail–it’s another way to save.
- Prompt and efficient disbursements
- No cost or obligation for pre-approval
- Prompt loan decisions
Island Housing Trust
Island Housing Trust (IHT) shares our goal of viable, year-round housing for individuals and families with
members who work on Mount Desert Island. IHT’s Homeownership Assistance Program (HOAP) allows the qualified applicant to identify the residential property he/she wishes to purchase, and then apply to IHT for gap financing.
BHSL and IHT’s work together includes thirteen HOAP projects and one resale. These homes will remain affordable in perpetuity for working households on MDI under IHT covenants.
If you wish to learn more about financing with IHT in partnership with Bar Harbor Savings and Loan, please give us a call or send us an email.
NOTE: Your security is extremely important to us. For your safety and privacy, please do not send confidential information via an unsecure email. Bar Harbor Savings and Loan (BHSL) cannot guarantee that unencrypted emails will not be intercepted. For your protection, please use email for general inquiries only and do not send sensitive information, such as account numbers. If you would like to send BHSL personal and/or financial information, please contact us and we will send you an email that will allow you to reply with your information encrypted.
