At First National Bank of Decatur County, we know that buying a home is probably the single largest purchase that you will make. Let our experienced team of mortgage lenders sit down with you and answer any questions you may have.
For more information on purchasing a home, click here.
Adjustable Rate Mortgages (ARMs)
Searching for the lowest rates? An ARM may be your answer. However, the interst rate will change periodically, sometimes as soon as 6 months into your loan. ARMs are available in long term (5+ years) and short term (3 yrs or less).
For more information on Adjustable Rate Mortgages, click here.
Planning on living in your house for more than 5 years and want the lowest monthly payment? A fixed-rate mortgage might be your solution. Fixed rate mortgages are available in 15, 20, and 30 year terms.
Planning on moving in a few years or refinancing for improvements? A balloon mortgage might make sense for you. A balloon mortgage is a mortgage in which the total loan amount is not spread over the term, making monthly payments smaller, but leaving a balance due at maturity.
Are you a single parent or unable to afford a down payment? You may want to consider a FHA/VA loan. Ask us about these loan types.
For purchases in rural areas our USDA loans may be a perfect fit for you. USDA loans come with a possibility of 100% finnancing and no private mortgage insurance. Check with our mortgage team to see if you qualify.