Loan Program Definitions

First National Community Bank offers a variety of loan programs with very competitive rates.


Fixed Rate Mortgages:
As the name suggests, fixed rate mortgages are loans on which the interest rate remains the same for the life of the loan.

Adjustable Rate Mortgage:
A type of loan where the interest rate is fixed for an initial period and is subject to change every year thereafter. Rates may increase after the initial fixed-rate period.

Guaranteed Rural Housing:
No down payment or Mortgage Insurance required. Income limits apply.

Lot Loans:
Loans available for land ranging from small lots to raw land and recreational property.

Construction Financing: A short-term loan that provides funds to cover the cost of building or rehabilitating a home. The money borrowed through a construction loan is typically provided in a series of advances as the construction progresses.
 

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