Home Mortgage
Loans
Whether you're buying your first home,
improving your present home or building your dream home, Eagle
National Bank has the right Home Mortgage, the right choice,
for you.
You've heard it before and it's as true
today as ever - your home is probably the single most valuable
asset you have. And the right home mortgage, whether for purchase,
refinance or home improvement, can make all the difference.
The Home Mortgage professionals at Eagle
National Bank can help guide you through the increasingly complex
choices to find the Home Mortgage that's just right for you.
  
 
FIXED RATE MORTGAGE
As the name suggests, a fixed rate mortgage carries the same interest rate throughout the life of the loan. You will always know what your interest rate, and therefore your payment, will be. A fixed rate mortgage is an excellent choice if you are planning to keep your home for a long time or if you are concerned about interest rate fluctuations. We offer mortgage loans of varying terms so that you may choose the right one for you.
ADJUSTABLE
RATE MORTGAGE
Adjustable Rate Mortgages, or ARMs,
were created to give homebuyers the opportunity to benefit from
lower initial payments. Initial rates are generally lower than
for fixed rate mortgages, and the interest rate then "adjusts"
at specified intervals according to market conditions and built
in controls.
One Year ARM
Your initial interest rate is fixed for the first year, then
adjusts on your yearly anniversary date, subject to "rate
caps" which keep the rate from changing too fast.
3/1 ARM
The low initial rate is fixed for the first three years, then
converts to a One Year ARM or Fixed Rate Mortgage. Other Adjustable
Rate Mortgages are available. Your Eagle National Bank representative
has all the details.
RESIDENTIAL
CONSTRUCTION LOANS
If you are considering building your
dream home, an Eagle Construction Loan provides an option that
is a construction loan and a home mortgage. You pay most closing
costs only once, with minimal additional costs only at the time
of conversion to the end home mortgage. The construction loan
is a variable rate loan and the home mortgage may be either fixed
or adjustable.
HOME EQUITY LINE
OF CREDIT
Most financial advisors agree, using
the equity in your home is the smart way to borrow for the things
you want and need. Use your equity for a new car, a boat, a dream
vacation, college expenses or so many other things. Or, consolidate
your credit cards and personal loans into one, usually much lower,
monthly payment.
REFINANCE YOUR
PRESENT MORTGAGE
There are lots of very good reasons
to refinanceyour present home mortgage: lower your interest rate,
shorten your remaining term, lower your monthly payments, and
even get cash back out of your home for investments or any other
reason important to you. Why not review your present home mortgage
and make a change for the better with an Eagle National Bank
mortgage? Call today.
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