- Fixed Rate Mortgage structures your payment so that there will be no increases or decreases in the interest rate or your payment over the life of your loan. Various repayment terms are available.
- Adjustable Rate Mortgage (ARM) is a mortgage in which the interest rate and, generally, the payments change over the life of the loan. The interest rate is adjusted to match the rise or fall of a pre-selected interest rate index and the borrower's regular payments will increase or decrease accordingly. The benefit of an ARM is the initial interest rate is generally quite low. Various repayment terms are available.
Ready to buy? Federal Home Loan Bank (FHLB) Grant Money
Act now to take advantage of $5,000 down payment assistance grant money to help you purchase your primary residence. Our experienced loan officers are here to answer your questions and help you secure the home mortgage you need to open the door.
Underwriting guidelines apply. Money can be used for down payment or closing cost assistance.
Angela Costley, Mortgage Lender
We also offer Construction Loans which are meant to take the stress out of building! Let The Lake Bank help you make that dream come true with our hassle free construction loans.