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The "American Dream" is alive and well!

Home ownership remains one of the most enduring symbols of American pride and accomplishment.

At Bank of Bolivar, one of our goals is to make responsible home ownership a reality for as many people as possible. One way to accomplish this is by matching the right people with the right loan type for them. At Bank of Bolivar, we have several residential mortgage loan types available for consideration. Please see full disclosure information on this page, below.

Fixed Rate MortgageApply Now!

  • A loan with a constant rate and uniform payments amortized over the term of the loan, which can help you with your long-term financial plan
  • Bank of Bolivar's competitive rates help minimize your interest expense
  • There is no prepayment penalty

Adjustable Rate Mortgage (ARM)

  • A loan whose interest rate and monthly payment vary in direct response to a rise or fall in market rates
  • ARMs usually have a lower initial interest rate than a conventional or balloon mortgage
  • ARMs have a limit on the amount of annual rate increase or decrease, letting you take advantage of downward trends while limiting the impact of rising rates
  • There is no prepayment penalty

Home Equity (Line of Credit or Term)

  • A loan that is collateralized by the equity in your home and whose interest, like most other mortgage interest, can be tax-deductible in most cases*
  • Immediate buying power with less financial burden due to longer payment terms and lower monthly payments than other personal loan types
  • Advances can be obtained up to a specified limit
  • No loan fees on loans up over $25,000; $25,000 and under, customer only pays appraisal fee
  • There is no prepayment penalty

Construction Line of Credit

  • A line of credit used to provide access to funds necessary for ongoing construction project expenses until permanent financing is secured at project's end
 

*IMPORTANT NOTE: please consult with your tax advisor for information and advice concerning your personal tax situation.



IMPORTANT DISCLOSURE INFORMATION


For example: a 30-year fixed rate loan of $150,000 at 3.50% will have principal and interest of $673.57 per month. Payments do not include taxes and insurance premiums, actual payment obligations will be greater. This is a sample APR – the actual APR of your loan may vary.

*Annual Percentage Rates (APR) quoted are for primary and secondary residences only with a minimum credit score of 740, 80% loan to value, 20% down payment. Loan amounts between $80,000 – $417,000 for standard loans, $417,000-$900,000 for Jumbo loans. Rates are current as of 11/12/2016 and are subject to change.** Variable rate loans are subject to increases at a future date after consummation of the loan.