Two of the sweetest words in the English language are, arguably, “Welcome Home.” As a local community bank, our decision makers are right here to support you in one of life’s biggest milestones – no pressure, though!
Buying, refinancing or building a home is one of the most important financial decisions you make. And like every home, every person’s needs take a different shape. We can help. Not only do we have standard fixed rate programs, we also have adjustable rate portfolio programs that can accommodate customers with unique situations.
With affordable monthly payment plans, home ownership is a reality for almost everyone. Talk with us today about the loan that’s right for you!
Or simply click here to visit our Mortgage Center and see our current rates.
Fixed Rate Mortgage
Our long term, fixed rate mortgage is the traditional way to finance a home. The interest rate stays the same for the entire term of the mortgage, which means your monthly principal and interest payment is always the same.
Adjustable Rate Mortgage
With an Adjustable Rate Mortgage (ARM), your initial rate is typically lower than the rate on a fixed rate mortgage. This means lower monthly payments at first, which can help you offset the costs of your down payment, closing costs, moving expenses and other incidentals that come with buying a new home. Depending on rate movements in general, the ARM may offer a lower cost over the life of the loan. Main Street Bank’s ARMs feature caps which limit the amount your interest rate can change in a single year as well as over the life of the loan.
When you want to build a new home, or improve your existing home, we have the right mortgage for you. Our Construction-to-Permanent Mortgage Program is convenient and cost-effective. This two-step loan calls for a construction period where you pay interest only on the funds drawn for a 12 month period (or less if the construction is completed.)
When your construction is complete, the loan automatically converts to a regular monthly payment of principal and interest. This means you only have one closing — which saves you time and money. You’ll also get a guaranteed rate of interest throughout the construction period and on your permanent financing. The interest rate you lock in at application is the same rate you get when construction has ended. Construction loans are available on our owner occupied 7/1 and 10/1 adjustable rate mortgage products.
For more information, contact one of our Community Lenders.
For your convenience, we have put together a checklist of documents which are helpful while processing your mortgage loan application.
- Employer name and address (Last two years)
- Most Recent Year’s W2(s) and Most Recent Pay Stub
- Self Employed Borrowers must provide complete last 2 years signed federal tax returns, for both business and personal (to include ALL pages)
- Deposit Accounts (Bank names, Account Number’s and Balances
- Most recent bank statements for all accounts (to include ALL pages)
- Any Open Loans or Mortgages (Creditor Name, Address and Account Number’s)
- Credit Cards with Outstanding Balances (Creditor name, Balance and Payment)
- Purchase & Sale Agreement (with photocopy of deposit checks)