Fixed Rate Mortgages

  • Secured by real estate
  • 15, 20 and 30 year fixed rate options available
  • Interest rates are posted on the daily rate sheet.
    • Required for application:
      • Mortgage application
      • Signed borrowers authorization
      • Recent paycheck stub (2 years income tax returns – if self employed)
      • Recent bank and investment statements
      • Legal description of the property
      • Homeowners Insurance Information

Adjustable Rate Mortgages

  • Secured by real estate
  • 1,3,5,7,10 year adjustable, with up to a 30 year amortization (fixed rate for a stated period of time than annual adjustments on the anniversary date)
  • Interest rates are posted on the daily rate sheet.
    • Required for application:
      • Mortgage application
      • Signed borrowers authorization
      • Recent paycheck stub (2 years income tax returns – if self-employed)
      • Recent bank and investment statements
      • Legal description of the property
      • Homeowners Insurance Information

Construction Loans

  • 9 month interest only payments
  • Payments based on outstanding balance
  • When home is completed they can convert to a fixed rate (automatically converts to a 5 year adjustable rate at the end of the nine months)
  • End rate if fixed is determined by current market rates
    • Required for application:
      • Mortgage application
      • Signed borrowers authorization
      • Recent paycheck stub (2 years income tax returns – if self employed)
      • Recent bank and investment statements
      • Legal description of the property
      • Construction contract