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Merchants & Farmers Bank offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:
 
5 Year Fixed Rate
10 Year Fixed Rate
7 Year Balloon (Amortized up to 30 Years)
Conventional Fixed Rate
VA
FHA
Rural Development (RD)
Mobile Home with Land

5 Year Fixed Rate
Fixed Rate loans have an interest rate that is fixed for the term of the loan.

Term: 5 years  

10 Year Fixed Rate
Fixed Rate loans have an interest rate that is fixed for the term of the loan.

Term: 10 years  

7 Year Balloon (Amortized up to 30 Years)
A Balloon loan allows for a longer amortization period, and a lower monthly payment. The loan offers a fixed rate for the first 7 years, and then every 5 years thereafter. Loan amortization terms are 15, 20 or 30 years.

Term: 7 years  

Conventional Fixed Rate
15, 20, or 30 year fixed rate loans have a FIXED rate for the life of that loan. These must conform the Fannie Mae residential guidelines.

Term: 30 years   Maximum Amount: $453,100

VA
Merchants and Farmers Bank loves our military and offer VA Mortgage financing. 15, 20, & 30 year options available. Must be a current or former member of any branch of military service to apply.

Term: 30 years   Maximum Amount: $1,500,000

FHA
Yet another 15,20, & 30-year fixed rate option available. This is backed by the Federal Housing Administration and has some leniency in regards to credit.

Term: 30 years   Maximum Amount: $271,000

Rural Development (RD)
Loan that is backed by the USDA. 30-year fixed rate loan with ZERO down payment.

This loan type has some limitations in regards to location, income, and other factors so be sure to contact a lender today to see if you and your dream home meet USDA's requirements!

Term: 30 years   Maximum Amount: $453,100

Mobile Home with Land
We offer Single and Double Wide mobile home financing on your property or purchased with property. 7 year balloon with amortizations up to 30 years.

Term: 7 years   Maximum Amount: $250,000



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