First Mortgage LoansThinking of Buying a New Home?
Our commitment as a prominent financial institution in the community extends to our belief in homeownership. Homeownership stabilizes the community, reduces crime and increases value. Owning your own home provides several benefits! In addition to the satisfaction of being a homeowner, you can...
What works best for you?
Conventional ι FHA ι 203K ι VA ι RD
Conventional mortgages are the most popular loan option available today. It can be used to purchase a home or to refinance an existing mortgage. The interest rate remains the same through the term of the loan. Monthly payments generally stay the same year to year, giving members the ability to plan out their long-term housing costs. Like all of the loan programs we offer, there is no prepayment penalty, so you can make extra payments monthly or pay off the loan early without penalties or fees.
The rate and payment are fixed for the first 3, 5, 7 or 10 years adjusting annually thereafter for the remaining term. If you plan to sell or refinance your home within 3 to 10 years, this could be the ideal mortgage for you.
The Federal Housing Administration (FHA) is an Agency within the US Department of Housing and Urban Development (HUD). Established in 1934 as a Mortgage Insurer, not a lender, to assist homebuyers in acquiring property with small down payments. It is the only government agency that operates entirely from its self-generated income and costs the taxpayers nothing (MI Premiums). The program offers:
Through the FHA 203k program, borrowers can purchase or refinance their home and include rehabilitation and repair costs in the same loan. This program can aid in expanding home ownership as well as can help revitalize the communities they serve.
Virtually any kind of improvement is eligible provided it becomes a permanent part of the real property and it adds value.
*Eligibility may differ between FHA 203k Full and Streamlined loans.
The VA Loan has many advantages that make it one of the most appealing paths to homeownership — and this great benefit is reserved exclusively to those who bravely served our country and select military spouses.
When combined, the benefits of the VA mortgage allow service members and Veterans to take advantage of substantial cost savings under qualification requirements designed specifically for members of the military and their unique needs.
Rural Development Program
This program assists homeowners by providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides:
Pre-Qualify NowThinking of Refinancing Your Existing Mortgage Loan?
Refinancing your real estate to reduce your mortgage payment or shorten your term is a great way to save thousands of dollars over the life of your loan. Now is a great time to lock in to a low fixed rate if you currently are paying on an adjustable rate mortgage. Contact us today to see if you are eligible to use the equity in your property to consolidate debt or complete those wanted improvements.
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1604 Remke Ave., P.O. Box 987, Lawrenceburg, TN 38464 ι (931) 766-9288 ι Fax: (931) 762-0583
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