Mortgage Loans

Find the Right Mortgage Option for Your Needs

We've listed the a number of available mortgage options below. The mortgage specialists at American National Bank and Peoples National Bank can help you decide exactly which one makes the most sense for you. Apply Online Now

Conventional Fixed Rate

This popular loan option is easy to budget for because it features a fixed interest rate and payment amount for the life of the loan. A fixed rate is an excellent choice if you plan to live in your home for a long time. For frequent movers or starter home buyers, other options may offer advantages.

Conventional Variable Rate

This type of loan begins with a lower rate than a comparable fixed rate loan. The rate can move up and down as it periodically adjusts to the movement of market rates. The rate will never exceed a maximum set at the beginning of the loan. Because of its lower initial rate, this option may be beneficial if you will be moving in a few years or if you think interest rates will be going down.

Conventional Balloon

This mortgage product features a fixed rate and a relatively small payment for a fixed term. At the end of the term, the remaining balance is typically refinanced at market rates at the time. Balloon loan rates are typically slightly lower than a comparable conventional fixed rate loan. This loan can be a good option for frequent movers or starter home buyers who want the stability of a fixed rate.

Portfolio Loans

Mortgage portfolio loans can offer additional flexibility with approval criteria in return for paying a premium on current rates. American National Bank and Peoples National Bank offer a variety of variable rate and balloon portfolio loan options.

Government Mortgage Programs

The mortgage experts at American National Bank and Peoples National Bank can help you take advantage of FHA, VA and Guaranteed Rural Housing Loan programs. While these loans may have special guidelines for qualification, borrowers can often benefit from the fact that they require little or no down payment and feature competitive interest rates and repayment terms.

Construction Loans

Our unique construction loan program enables you to take advantage of flexible terms on a fixed rate during construction and qualify for your permanent mortgage loan on the finished home at the same time. You save on time, paperwork and headaches.

Lot Loans

These loans allow for the acquisition of land whether or not construction of your home will begin immediately. Purchase your lot now, build when you're ready. American National Bank and Peoples National Bank make it easy to take advantage of lot opportunities.

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