Purchase Loans
Five Points Bank offers a comprehensive menu of financing options, including solutions that can be customized depending on your situation. Talk to us today about your dream home, and we’ll get started on how we can make it a reality.
Refinancing Loans
If you want the opportunity to lower your existing mortgage’s interest rate, shorten the term of your loan, convert from an adjustable-rate mortgage to a fixed-rate mortgage (or vise-versa), or even consolidate debt, refinancing might be the right solution for you. Talk to one of our mortgage specialists today to see if it’s the right time for your situation.
Home Equity Loans
Tap the equity in your home to fund education, investments, home improvements – even vacations. Or you can use your loan to pay off high-interest credit card balances or other debt. Five Points Bank has competitive rates, easy payment options and low application fees. There may even be advantages at tax time (ask your tax advisor for details).
Getting Your Home Equity Loan
Getting your current mortgage loan is a similar routine to that of a home equity loan. Some differences are though, that the rate of interest with a home equity loan is usually higher (with tax deductible interest) with lower closing costs.
To qualify for a second mortgage, you will need a positive credit score and you should be able to verify your income. To figure out your home's market value, your lender will ask for an appraisal of your home.
Have questions about your home equity, call us. It's our job to answer home equity loan questions, so we're happy to help!
Type of Home Equity Loans
Use the equity in your home for home improvements, debt, consolidation and investments. Five Points Bank has competitive rates, easy payment options and low application fees.
Home Equity Loan
This loan allows you to get a set amount of money, and repay it with regular monthly payments. The interest rate is usually set for the life of the loan.
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Home Equity Line of Credit (HELOC)
You’ll receive approval for a maximum amount, and borrow as needed. Interest rates vary on term of loan. Five Points Bank has 1, 3 and 5 year HELOC’s available.
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Home Improvement Loans
Even brand new homes often need gradual improvements, upgrades and repairs. You’ll want to take care of your investment, and home improvement loans give you the freedom to do just that. Five Points Bank can help you take out a home equity loan or a personal loan to cover home improvement expenses. Contact us today to get started!
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Types of Loans
Fixed Rate Mortgage
Whether you are purchasing or refinancing, this traditional choice, has a fixed interest rate for 30- 20- 15- or 10- years.
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Jumbo Loans
These loans are larger than the limits set by Fannie Mae and Freddie Mac. Because jumbo loans are not funded by Government-Sponsored Enterprise (GSE), they usually carry a higher interest rate and some additional underwriting requirements.
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Construction Loans
We’ll work with you and your general contractor on financing so you can buy a lot and/or build a home.
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Developed Lot Loans
If you want to buy a developed lot to build on later, this could be the loan for you. The terms and amortization period are flexible to keep costs in line until construction begins.
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Bridge Loans
Bridge loans allow you to buy a house before you sell your existing one. Your offer on your new house can be more attractive to sellers if it doesn’t have a contingency clause about selling your existing home. These loans can also be set up so you don’t have to make payments for several months, to ease the transition between the two homes. Talk to our mortgage lenders to see if a bridge loan might be right for your situation.
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First-time Homebuyer Loans
If you’re buying a house for the first time, you can take advantage of a low interest rate along with the possibility of receiving grant money or homebuyer’s assistance to help pay for closing costs and the down payment.
To be eligible, homebuyers must meet certain income criteria, complete a homebuyer education/counseling program and provide a minimum down payment. Please contact a mortgage loan officer for more details.
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VA Loans
Veterans Affairs loans are available to active military members, veterans and surviving spouses (who do not remarry), and are an attractive option because they don’t require a down payment, nor private mortgage insurance. Some other restrictions apply – come see us today to see if you qualify.
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Nebraska Energy Savings Loans
This low-interest loan program offers financing for improvements and systems that save energy dollars. Loans cover improvements to appliances, insulation, windows, doors, weather stripping, high efficiency heating/cooling, water heaters, thermostats, lighting and more. Check with our lending experts for more details.
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