Home Loans at Exchange Bank of Northeast Missouri
Choose from a Variety of Mortgage Programs
There’s nothing more important than having a home that is safe for your family. Exchange Bank of Northeast Missouri’s mortgage lenders have been helping people in our communities find the right mortgage for years, and we’re ready to do the same for you.
Mortgage Options at Exchange Bank of Northeast Missouri
Making the decision to purchase a home is a big step for anyone. There are a lot of questions and you’re wondering which mortgage is the best fit for you. Exchange Bank of Northeast Missouri offers several mortgage options to assist you in financing the purchase of your home, including:
- Fixed rate mortgages - with mortgages available in several repayment options, you can count on having a steady payment amount each month.
- Adjustable rate mortgages - the amount you pay every month changes when your interest rate changes. If you expect to earn a higher income soon or you’re only looking at short-term ownership, this is a great option. Learn more about adjustable rate mortgages here.
- Balloon mortgages - a short-term loan, usually with a period of three to five years, with a fixed rate. This is an option to consider if you aren’t planning on living in your home longer than seven years.
- Bridge mortgages - another loan with a term of six months or less. A good option if you have equity built up in your current home that you want to put toward purchasing a new home.
The Exchange Bank of Northeast Missouri mortgage lending staff is ready to help find the best mortgage option to get you into the home you want. Print and fill out our mortgage application, and then stop by one of our branch locations to get started today.
Lot Loans
If you’ve found the perfect piece of property for your new home and want to reserve it, but you’re not ready to build yet, a lot loan is the perfect option to make sure you own that property when you’re ready to build. Exchange Bank of Northeast Missouri lot loans are available for terms as long as 20 years with a 25 percent down payment required.
Construction Loans
Offered as a closed-end line of credit in which you make interest-only payments, a construction loan from Exchange Bank of Northeast Missouri gives you the chance to take out a short-term loan (usually six months) to borrow up to 80 percent of the building’s costs.
Exchange Bank of Northeast Missouri Mortgage Loan Origination Numbers
All loans are subject to the bank’s normal income and credit requirements. Actual terms and conditions may vary.