If you’re planning to stay in your home for a long time and you’re looking for a predictable loan, choose a traditional fixed-rate mortgage. Your monthly principal and interest payment will never go higher. Farmers offers a variety of competitive fixed-rate mortgages.
Variable-Rate Mortgage
If there’s a chance you might move in a few years, a variable-rate mortgage might be best for you. A variable-rate mortgage starts out with a lower interest rate and lower payment. At Farmers, you can choose a variable-rate mortgage that begins with a fixed rate for seven or ten years. The rate may increase or decrease annually after the initial loan term and has a maximum increase over the life of the loan.
Construction Loan
You have enough tough decisions to make when building your new home. Let Farmers simplify things with one loan — a one-time closing featuring a locked-in rate at the time of application. Your loan automatically converts to a fully amortizing, permanent loan at the completion of the construction.
Affordable Home Loan Program
The Farmers Affordable Housing Program is a first mortgage program to assist in the purchase of a home for low to moderate income families. Farmers will provide grant money up to $3,000 to assist with down payment and closing costs. This program allows for up to 100% financing with no mortgage insurance required.
Bridge Loan
Make all of your past mortgage payments work for you. Tap into the equity in your current home to purchase your new dream home with a home equity bridge loan.
Purchasing or refinancing a home is one of the largest investments you can make. At Farmers National Bank, we’d like to help you along your journey by outlining the five phases to secure your mortgage loan.
How much money do I need for a down payment on a house?
