Products and Services
WNB Financial Mortgage Services offers a professional, experienced mortgage team that can assist with all your home financing needs. Whether you’re buying, building, or refinancing a primary residence, second home, or investment property, we listen, provide expert advice, and offer a variety of products and loan terms.
Conventional or Traditional Loan
The most popular mortgage loan with low down payment options! This is a mortgage that has a fixed rate through the life of the loan, providing you consistency to help make it easier to set a budget. The monthly principle and interest payment, as well as your interest rate, will stay the same for the entire term of the loan.
ARM (Adjustable Rate Mortgage) Loan
This mortgage typically offers a low introductory interest rate that periodically adjusts based on the current financial index. These mortgages are intended for those who are okay to assume the risk of interest rate changes, increase or decrease, as the index rates change. This is a great option for those that would benefit from an initial monthly payment that is likely lower than a conventional mortgage, but intend to refinance the loan or sell the home before the end of the introductory fixed-rate period.
A mortgage that doesn’t have the standard conventional characteristics. These loans include, but are not limited to, balloon loans or interest-only loans. A balloon mortgage is the most common non-traditional mortgage. This mortgage typically has a short term. However, the monthly payments through this period are not set up to cover the loan term; instead, they’re calculated as if the loan was set up on a traditional long-term mortgage. At the end of the short-term period, you’ll have a “balloon” payment due that you can refinance or pay off.
Financing for when you’re ready to build a new home or complete major renovations. This loan provides interest-only payments based on the amount drawn for the construction period. Typically throughout the construction period, the builder will take draws (payments) for work that has been completed thus far. With the help of our Mortgage Experts, once the home is complete, we can convert the construction loan into permanent financing. Read more about the construction loan process.
Residential Lot Loan
Ideal for the person looking to secure a building site for a future home. With flexible terms and your goals in mind, this short-term loan is perfect to get the first item of building checked off your to-do list!
As you prepare to buy a new home, one of the most important considerations for you, your real estate agent, and the sellers is how much home you can afford. You need to find out how much money you can borrow and figure out what payment amount is comfortable for you within your overall monthly budget. Just because you can borrow a certain amount doesn’t necessarily mean you should spend that much. A pre-approval gives you a head start over less-prepared buyers. Move forward confidently and get pre-approved today!