Country Home Loans
Whether you are buying your first home, upgrading to accommodate a growing family or are looking to refinance your current home, we offer several financing options exclusively designed for people who live or desire to live in the country.
- Competitive fixed and adjustable rates
- No requirement for expensive Private Mortgage Insurance (PMI)
- No requirement to freeze your money in a non-interest bearing escrow account
- You can prepay at any time without penalty
- Ability to convert your loan rate when interest rate environments offer savings
- Ability to lock in your rate
- Local servicing of your account - your loan is not resold
- Quick approval and loan closings, affordable payments
Which Financial Program is right for you?
Convertible Rate Loans
This is a blend of savings and security. You choose a fixed rate period that you're comfortable with and get the savings for opting for a shorter period. For example, with the 5/30 Convertible Loan, your loan rate is fixed for 5 years with the length of your loan up to 30 years. You enjoy the savings of a lower initial rate compared to 20- or 30-year fixed rate loans.
- You choose a 5-, 10- or 15-year initial fixed rate period
- Loans can have terms up to 30 years making your monthly payments less
- Convertible rates are often lower priced than conventional fixed rate loans
Fixed Rate Loans
These products provide a fixed rate for the entire life of the loan. If rates should drop in the future, you may be able to convert to a lower-interest rate loan.
- Provide security of a full fixed rate that never changes
- Available for 10, 15, 20, 25 or 30 years with matching terms
- Rates can be locked-in before closing, giving you the advantage of a low market
Adjustable Rate Loans
Commonly referred to as ARMs, you can select a 30-day adjustable rate that can change up or down each month. Another product is the 1-year convertible rate mortgage. This loan features a fixed rate for 12 months which re-prices annually. There's a limit (or cap) on how much your interest rate can adjust each year and over the life of the loan.
- Offer greater savings than the fixed rate and the convertible rate mortgages
- You can convert to a fixed rate at any time