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MORTGAGE LENDING
Looking for a Mortgage?
See our Mortgage Specialists!
Mortgage Rates
For years, we have been committed to providing mortgages to our community. Mortgage lending is a top priority at our Bank. You can count on our knowledgeable staff always being courteous and attentive. We will go to great lengths to provide the best in customer service. At Palos Bank, you'll find a wide range of mortgage choices. We can offer expert guidance on selecting a mortgage program that will match with your personal financial situation. FIXED RATE LOANS
The fixed rate mortgage has withstood the test of time thanks to its simple, understandable format and its promise of payment security. A fixed rate loan guarantees the homeowner an interest rate that will never change. Principal and interest payments remain the same over the life of the loan. A fixed rate mortgage offers comforting predictability.
ADJUSTABLE RATE LOANS
It's important to select a mortgage that will match the length of time you plan to remain in your home because the initial interest on your loan increases in proportion to the length of time the rate remains fixed. Consider an adjustable rate mortgage if you will be a short-term homeowner, if you feel interest rates will drop in the years ahead, current rates are high, or you wish to qualify for a more expensive home and are counting on income increasing in later years.
LOW DOWN PAYMENT LOANS
Our Bank participates in the Community Home Buyers Program, which features fixed rate, conventional mortgages with low down payment requirements, relaxed qualification guidelines, and reasonable interest rates. The program is open to anyone whose income does not exceed the maximum allowable level. Private Mortgage Insurance is required on down payments of less than 20%.
MORTGAGE LOAN PRE-APPROVALS
Go house hunting with your mortgage loan in hand. Before you begin looking for your new home it's important to know what you can afford. Then when you have found a home that you are ready to purchase you save time because most of the approval process has already taken place. The next step is simply for you to tell us what home you have selected and we will order the appraisal to approve the property. It's that easy and convenient.
FOR ADDITIONAL INFORMATION
Stop in or call! Our mortgage professionals welcome the opportunity to meet with you and discuss which loan program will work best.
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