Mortgage Loans

We’d like to help make it that way by taking the worry out of applying for a mortgage. That’s why we would like you to take our Home BuyAbility Test. It will help you find out how much home is right for you, so you can feel more comfortable when you apply for your mortgage loan with us.

Select A Mortgage Loan To Fit Your Financial Situation.

Fixed Mortgage

Peace of mind can be found in predictability.  With a fixed-rate mortgage, your interest rate and monthly payment will remain consistent for the term of your loan.

Features:

  • Terms up to 30 years
  • Loan to value up to 80%, if higher Private Mortgage Insurance (PMI) will be required
  • Escrow is an option (required with PMI)
  • Monthly payments (Bi-weekly payment option available on some terms)
  • Security is recorded as a mortgage on the property

Biweekly Mortgage

Do you want to match up your payments to your pay cycle?  Are you interested in taking advantage of paying your loan back quicker than a normal monthly payment?  If so, a biweekly mortgage loan may be for you.

Features:

  • Loan payments are auto debited out of a checking account every two weeks
  • Loan value up to 80%, if higher Private Mortgage Insurance (PMI) will be required
  • Escrow is an option (required with PMI)
  • Security is recorded as a mortgage on the property

Adjustable Mortgage

Planning on moving in a few years? Expecting your income to increase in the future?  With an Adjustable Rate Mortgage (ARM) you will have a fixed rate for the first 3 or 5 years loan repayment.  After that established period of time, your interest rate will change based on the U.S. Prime Rate.

Features:

  • 3/1 or 5/1 ARM available with amortized term up to 30 years
  • Loan value up to 80%, if higher Private Mortgage Insurance (PMI) will be required
  • Escrow is an option (required with PMI)
  • Security is recorded as a mortgage on the property

100% HOME FINANCING – USDA Guarantee

Are you ready to own your first home? Real estate lending is made easy with a USDA loan, which provides guaranteed financing by the United States Department of Agriculture.  Homebuyers can receive 100% financing with no requirement for mortgage insurance premiums. 

Features:

  • 100% financing of the purchase price
  • Term is 30 years fixed with a fixed interest rate
  • Escrow is required
  • Applicants must meet moderate income limits and have acceptable credit history and repayment ability
  • A guarantee of 1% of the loan amount is required and an annual fee of .35%

Once you know approximately how much home is in your price range, use the guide below or our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance are also not included on the chart, but may be added to your monthly payments.

Mortgage Amount4% APR5% APR6% APR7% APR
$60,000 $286$322$360$399
$80,000 $382$429$480$532
$100,000 $477$537$600$665
$120,000 $573$644$719$798
$140,000 $668$751$839$931
$160,000 $764$859$959$1,064
$180,000 $859$966$1,079 $1,198
$200,000 $955$1,074 $1,199 $1,331

The above rates are for illustrative purposes only. They are based on the Annual Percentage Rate (APR) indicated for principal and simple interest with a term of 30 years. We offer a variety of mortgage plans.

Is Refinancing Right For You?

Generally, it’s a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage. And whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, ask about a Homeowner’s Credit Line. It can help you save on fees when you apply; interest when you want to borrow money; and, on taxes at the end of the year. Apply Online today, or for more details, speak to one of our mortgage loan experts at 815-223-4300.