 |
 |
 |
|
 |
|
 |
|
 |
|
 |
Congratulations! You’ve found the perfect home. Or have you just started looking for your dream home? Either way, we can help.
We tailor our Fixed, Adjustable and Combination Rate loans to fit your needs, and offer:
- A variety of terms for most products
- Loan amounts up to $500,000 and on a case-by-case basis even more.
Adjustable
Rate Mortgages
Many people choose adjustable rate mortgages to get more cash out
and lower initial monthly payments. There are other great reasons
as well.
Want the same monthly principal and interest payment for the life of your loan? Learn what makes these loans ideal if you’re planning to stay in your home for more than 5 years.
We tailor our loan products to fit your needs, whatever your priority.
Select a home loan that makes the most of your cash on hand or your lack of it. Choices vary depending on credit history, but you can choose from low down payments to 100% financing. You can even use gift funds, seller contributions, or a second mortgage.
Credit
Improvement
Finance your home and start rebuilding your credit today with a fixed
or combination rate home loan.
Reduced
Paperwork
Simplify the process. Mountain National Bank offers home loans that
allow you to provide little or no paperwork documenting your income
and assets – good news for the self-employed and business owners.
Investment
Property
Are you a real estate investor? Find out how we can help you finance
more properties.
Vacation
Homes
Want to make in an investment you can enjoy for years? See how we
can make it simple.
Adjustable Rate Mortgages (ARMs)
An Adjustable Rate Mortgage is just that – adjustable. Its interest rate varies according to the index on which it’s based. Mountain National Bank’s ARMs come with interest rate caps that limit how much an interest rate, and therefore a payment, will change each year and over the life of the loan.
- Increase Upfront savings –If you’re planning to stay in your home or keep your loan for the short term, 5 years or less, lower upfront fees and payments typically make an ARM loan cost less than a fixed rate loan.
- Maximize your Buying Power – You can use an ARM loan to obtain your highest loan amount, up to $500,000 and, on a case-by-case basis, even more.
- Minimize Initial Payments – You can use an ARM loan to obtain a lower initial monthly payment and lower upfront costs than a fixed rate loan.
- Get Approved – ARM loans can make getting approved easier because they often allow higher consumer debt.
Find out today all that Mountain National Bank can do for you!
Fixed Rate Mortgages
A Fixed Rate loan offers an interest rate and payment that never varies over the life of the loan, an ideal situation for those on a fixed income or budget.
Typically, fixed rate loans cost more upfront in fees and interest rates than combination or adjustable rate loans. The key to determining whether a fixed rate loan is your best choice depends on your long-term goals. If you keep your fixed rate loan for over five years, and interest rates rise, your higher upfront costs should pay for themselves. If you plan to stay in your loan for less than five years, a lower cost combination or adjustable rate mortgage loan might serve you better.
[Reasons to consider a fixed rate loan:]
- Establish Fixed Payments – You can manage your finances more easily with fixed monthly payments.
- Increase Long Term Savings – If you’re planning to stay in your home or keep your loan for the long-term (over five years), and interest rates rise, you might end up paying less than you would have if you had selected a comparable combination or adjustable rate mortgage loan.
- Secure a Loan for Up to $500,000 – Find the home you can afford with loans that offer an unusually high maximum loan amount.
Find out what Mountain National Bank can do for you today!
Low Down Payment
Naturally, your options depend on your credit profile. But at Mountain National Bank you always have choices.
[Down Payment Options:]
- Low Down Payments – Increase your buying power by financing up to 100% of your home purchase with a fixed rate loan. Loan amounts up to $500,000.
- Seller Contributions –Negotiate with your seller. At Mountain National Bank, a seller may contribute up to 6% of the home purchase price in non-recurring closing fees. And, we will even allow your seller to contribute more in the form of a reduced sales price.
- Gift Funds –Receive a gift from a family member and you may put it toward your down payment. One of our programs even allows gifts – up to 20% of the purchase price – in place of your own savings; we loan you the rest.
- Seller and Institutional Lender Second Mortgage Loans – Obtain secondary financing and we’ll loan you the first mortgage up to 80% of the sales price.
- No
Private Mortgage Insurance - Unlike traditional loans, some
Mountain National Bank loans do NOT require Private Mortgage Insurance
(PMI) (Insurance paid when loan to value exceeds 80%). So, you can
keep your down payment low without increasing your total monthly
payment with a PMI payment.
Credit Improvement
If you’ve experienced financial hardship leading to credit problems you’re not alone. And while you’re probably eager to start rebuilding your credit today, many lenders won’t give you a chance. Let Mountain National Bank help.
You can choose:
- A fixed rate mortgage, or
- A combination rate Credit Repair Mortgage
[Our credit improvement loan gives you:]
- A Fresh Start – Bring past due balances current, consolidate debt and gain peace of mind rebuilding your credit while making mortgage payments on your own home.
- Lower Overall Monthly Payments – If you’re refinancing, you can take advantage of debt consolidation. Simplify your life with fewer monthly payments and a lower total monthly payment amount.
Find out what Mountain National Bank can do for you today!
Credit Repair Mortgage
Mountain National Bank’s Credit Repair Mortgage, a combination rate loan, offers you a choice of two or three years of fixed payments. After the fixed rate period, your interest rate converts to an adjustable rate mortgage using the stable and popular LIBOR index for the remainder of the loan term.
[Advantages of a credit repair mortgage]
- Mend Credit -- Use the fixed rate period to prove your creditworthiness while making affordable and predictable monthly payments.
- Take Advantage of Lower Initial Rates – The Credit Repair mortgage offers lower rates than other fixed rate loans. This makes it a great choice if you’re planning to stay in your home or keep your loan for less than five years.
Find out what Mountain National Bank can do for you today!
Reduced Paperwork
Worried about proving how much you make? Been self-employed for less than two years? Don’t worry. Your word is good with us.
[Reduced paperwork loan features:]
- Many Loan Options – Loans that allow you to provide few or no documents are available with Mountain National Bank’s fixed, combination and adjustable rate home loan programs.
- Flexibility for Self-Employed – Unlike most lenders, Mountain National Bank Mortgage Department does not require a minimum of two years of self-employment.
Find out what Mountain National Bank can do for you today!
Investment Property
Refinance today, buy more properties tomorrow. If you’re a real estate investor, Mountain National Bank can help.
[Use our investment property loans to:]
- Get more loan choices – We offer a wide range of home loan programs that we can tailor to fit your individual needs and lifestyle.
Find out what Mountain National Bank can do for you today!
Vacation Homes
Looking for an investment you can enjoy? Mountain National Bank makes financing vacation and second homes simple.
[Key features for vacation homes:]
- We help you choose from fixed, combination and adjustable rate loans that we tailor to meet your needs.
- You can even refinance your primary home to help finance your second home.
Find out what Mountain National Bank can do for you today!
Rates and programs subject to change. For consumer use only, not for real estate or mortgage professional use. Some products not available in all states. Restrictions apply.
Member FDIC - Equal Housing Lender. Pre-qualification is neither pre-approval nor a commitment to lend; you must submit additional information for review and approval. Approval may be subject to rate increases, satisfactory review, and no change in financial condition. Refinancing may increase the total number of payments and the total amount paid when comparing to your current situation.
