Planters Bank delivers quality service with strong local banking experience to offer you comprehensive Mortgage Services. We understand if you are buying or refinancing for the first time or the tenth, you deserve convenient and hassle-free service offering a variety of lending options with attractive, competitive rates.
A fixed rate mortgage has a set interest rate for the life of the loan, offering predictable monthly payments.
ARMs usually begin with an interest rate that’s lower than a fixed rate mortgage rate. But the interest rate - and your monthly loan payment - will fluctuate according to market conditions. Most ARMs have interest rate caps to reduce dramatic changes in rates. Planters Bank ARMs also have no penalty for prepayment.
Beginning in June, 2011 Planters Bank offers even more Great Things from our mortgage department. You now have the option of customizing your mortgage term from 8-30 years. Our mortgage officers can give you quotes on any number of possibilities so you can find the payment solution that works best for you.
Planters Bank can determine if you qualify for VA, FHA, or Rural Housing loan programs, making it even easier to get into the home you want. By offering these government-sponsored home ownership incentive programs, we may help you lower your interest rate, reduce or eliminate the need for a down payment and/or closing costs!
VA Loans offer up to 100% financing with limited closing costs to eligible and qualified service members to include military veterans with at least six months of active duty and members of the selected Reserves. Other individuals who may be eligible include unmarried spouses of a deceased veteran whose death was service related or a spouse of a MIA or POW. For full eligibility and program details, please contact us.
Benefits of a VA Loan typically include:
FHA Loans typically allow a lower down payment of three to five percent. In some cases, closing costs can be included in the loan to further reduce up-front costs. For full eligibility and program details, please contact us.
Rural Housing Loans allow up to 100% financing for qualified, limited-income buyers. For full eligibility and program details, please contact us.
Planters Bank offers construction loans designed specifically to help you build your dream home. With competitive interest rates, a Planters Bank Construction Loan can be a dependable source of cash throughout the building process. You won’t pay any interest until the funds are drawn and closing costs are minimal. And once your house is finished and you are ready to move in, we can convert your construction loan into permanent financing!
When interest rates drop below your current mortgage rate, it’s time to save! When you refinance the interest rate on your mortgage, it may mean lower payments. And refinancing to a shorter-term mortgage can save you thousands of dollars in interest charges over the life of the loan when you pay off the loan faster.
Let your hard-earned equity work for you! Finance a college education, home improvements or upgrades, a new car or a dream vacation. You can also use a HELOC for debt consolidation. A Planters Bank Home Equity Line of Credit is a smart way to borrow money for the things you need - the interest paid on a Home Equity Line of Credit is usually tax deductible! Please consult with a tax advisor to determine the tax benefits available to you. Download a Home Equity Loan Application.
The Housing and Urban Development Housing Counseling Program provides a list of approved intermediary agencies that can offer independent advice about whether a particular set of mortgage loan terms is a good fit based on your objectives and circumstances, often at little or no cost to you. Find approved counseling agencies in your area at the Consumer Financial Protection Bureau's (CFPB) website: www.consumerfinance.gov/mortgagehelp or by calling 1-855-411-CFPB (2372). You can also access a list of nationwide HUD-approved counseling intermediaries at http://portal.hud.gov/hudportal/HUD?src=/ohc_nint.