Loans & Lines of Credit
Mortgage Loans
Click here for Mortgage Calculator.
FIXED RATE MORTGAGE LOANS*
Whether you're buying a new home or refinancing your current residence, you'll find a mortgage plan here at CharterBank that fits your lifestyle and your needs. A fixed-rate mortgage option provides you with the security of having the same interest rate over the life of your loan providing you with a fixed payment for ease of budgeting your monthly household expenses.
ADJUSTABLE RATE MORTGAGE LOANS*
An Adjustable Rate Mortgage (ARM) is an increasingly popular alternative to the conventional fixed rate mortgage for homeowners trying to get the most home for the lowest payment. An adjustable rate mortgage can be easier on your wallet, help you qualify for a larger mortgage, and could be less expensive over time.
These loans have an initial fixed rate period of 3, 5, or 7 years, after which the rates are adjusted on a yearly basis. There are built in caps to protect a person against a huge payment increase. There are lifetime caps and periodic rate caps. Lifetime interest caps can protect you and help keep your interest rate and payments within your reach during the life of the loan. The periodic rate cap restricts the payment increase for a time period.
JUMBO MORTGAGE LOANS*
CharterBank offers both fixed and adjustable rate mortgages for those individuals who are financing a much larger home purchase.
FHA and VA FINANCING*
CharterBank offers government supported fixed rate financing options such as FHA loans, which are backed by the Federal Housing Administration, and VA Loans, which are available to American War Veterans or individuals who have served a specific time in the Armed Forces. Please contact your nearest CharterBank office for terms, loan limits, and other details on FHA and VA loans.
*All loans are subject to approval. Fees may apply. Terms and LTV requirements are subject to change without notice. Consult you tax advisor regarding any tax deductibility.
