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 long-term fixed rate mortgages that are not sold to the secondary market. All our mortgage loans are held and serviced by us.
- Customers are pre-approved with no cost or obligation.
- All rates are locked in for 90 days at application for no additional fee.
- We offer financing up to 97% with private mortgage insurance.
- Our customers stay our customers.
We currently make mortgages for the following:
- Primary residences up to four units
- Construction loans with one closing to permanent financing
- Land purchases if part of a construction loan package
- Vacation homes and investment properties
- Apartment buildings
- Commercial properties with a residential unit
- Modular homes
- Single-wide and double-wide manufactured housing
- Second mortgage loans and home equity loans
Please contact Bill Weir (NMLS # 518001) or Rhonda Sawyer (NMLS # 1162924) at 207-288-3685 for current rates and further information.
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
- No fees
- Keep your savings intact
- No application
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.
- Easy 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.