Skip to main content

Mortgage Loans

 Section Menu

Mortgage Journey

Where are you in the home buying journey?

  • I want to know how much home I can actually afford. Try our Mortgage Loan Calculator.  
  • I'm considering buying a house. You're invited to participate in free, no-obligation mortgage loan consultation. Learn about loan types, down payment assistance programs, and the mortgage lending process. Select the "Schedule an Appointment" button to pick a time convenient for you.     
  • I need to prequalify for a mortgage loan before beginning my home search. Today, most real estate agents show homes to prequalified clients. Prequalification determines whether you are in a financial position to buy a home and approximately how much you may be able borrow. For mortgage loan prequalification, apply online or contact a lender for assistance.
  • I'm buying a home without the assistance of a real estate agent and need a mortgage loan.  Simply apply online or contact a lender to apply.    
  • I've applied for a mortgage loan through First National Bank and want to know the status of my loan. Visit the online mortgage portal to check on the status of your loan or upload any required documents. 

Apply for a Loan Online

Schedule an Appointment

Contact a Lender


Home Mortgage Loan Options

In addition to the following loan options, First National Bank also offers Bridge Loans for those caught between selling their existing home and buying a new one; and Home Construction Loans for those individuals working with a contractor to build their new home.

Conventional

CONVENTIONAL FIXED-RATE 

  • Up to 97% financing.
  • Borrower to pay private mortgage insurance (PMI) if making less than a 20% down payment; can cancel PMI once you've gained 20% equity in your home.
  • Fixed-rate loan throughout the term.
  • Choose loan term of 10, 15, 20 or 30 years. 
  • No application fees. 
  • No prepayment penalty. 
  • If you already have a mortgage and want to refinance for a different interest rate or different loan term, this loan may also be a good fit.

BALLOON PAYMENT2

  • Up to 80% financing.
  • A balloon payment loan is a mortgage that does not fully amortize over the term of the note, thus leaving a balance due at maturity. The final payment is called a balloon payment because of its larger amount. 
  • 15-year fixed-rate loan
  • 30-year amortization (The longer amortization benefits the borrower with a lower initial rate and payments are spread over a longer term.)
  • Balloon payment due at maturity. 
  • Qualified borrowers can refinance their loan when it matures at the current rate available.
Balloon
FHA Loan

FEDERAL HOUSING ADMINISTRATION (FHA)

  • Up to 96.5% financing.
  • Loan guaranteed by the Federal Housing Administration. 
  • Upfront mortgage insurance premiums required. 
  • Monthly mortgage insurance premiums, along with the monthly loan payment. 
  • Property condition requirements.

VETERANS AFFAIRS (VA) HOME LOAN

  • No down payment required. 
  • Loan guaranteed by the U.S. Department of Veterans Affairs (VA).
  • 15-year fixed-rate loan. 
  • For active duty servicemembers, former members of the armed forces, or spouse of a servicemember who dies in the line of duty or as the result of a service-related disability with certificate of eligibility. 
  • No Private Mortgage Insurance (PMI) required.
  • The VA home loan is a lifetime benefit. You can use the guaranty multiple times.
VA Home Loan
USDA

USDA RURAL DEVELOPMENT LOAN

  • Up to 100% financing. 
  • Guaranteed housing loan program by the U.S. Department of Agriculture (USDA).
  • For low-income and very low-income individuals and families. 
  • Loan limits and income eligibility are dependent upon the county where the homebuyer intends to live. 


Homebuyers' Resources

 Homebuyer's Guide

Guide

Step-by-step, everything you need to know and do before buying a house. 

Free Download

Mortgage Loan Process

mortgage

Additional Resources

Resources


Mortgage Loan Roadmap

One of the most common stress triggers during the home buying process is unfamiliarity with the mortgage loan process. By understanding the process, you'll feel more empowered and "in-the-know" throughout each step. In this video, we take you on a short journey along the Mortgage Loan Roadmap and break down the mortgage lending process into 11 steps, which will hopefully help keep the stress at bay. 


You've Got Questions, We've Got Answers

Buying a home is one of the biggest financial decisions of your life. We want you to feel comfortable asking any question that comes to mind throughout the loan process.


Important Disclosures and Information 


Annual percentage rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender.

The following are estimated monthly payments and APR calculations. 

Conventional fixed rate – 5.75%/APR 5.793%

1The Annual Percentage Rate (APR) shown is accurate for up to a 360-month fixed-rate term, $250,000 loan amount, owner-occupied single-family residence, and a Loan-to-Value (LTV) of 80%. Payment Example: 360 monthly principal and interest payments estimated at $1,459. Subject to standard underwriting requirements. Your APR may be higher and will vary based on underwriting including, but not limited to, credit score, down payment, cash reserves, and debt to income ratio. Loan to value up to 97% may be available. Contact your mortgage lender for guidelines, restrictions, and interest rates. Rate subject to change without notice. Program can be withdrawn without notice.

Balloon Note – 5.820%/APR 5.872%

2The Annual Percentage Rate (APR) shown is accurate for up to a 180-month fixed-rate term, $250,000 loan amount, owner-occupied single-family residence, and a Loan-to-Value (LTV) of 80%. Payment Example: 180 monthly principal and payments estimated at $1,470, and a Balloon balance of $177,702 due at maturity. Subject to standard underwriting requirements. Contact your mortgage lender for guidelines, restrictions, and interest rates. Rate subject to change without notice. Program can be withdrawn without notice.

Back to Top