Loan Programs available:
Fixed Rate Mortgages
A fixed rate mortgage is the most common type of mortgage selected by homeowners. It will provide you with the security of having the same interest rate over the life of the loan, which will give you a consistent principal and interest payment. We offer an array of loan terms to fit your needs.
FHA financing offers down payment requirements that are traditionally lower than conventional financing options and will allow you to use gift and or grant funds to assist with down payment and closing costs. FHA loans may also allow for more flexible credit guidelines. These loans can be a good option for first-time home buyers.
The Veterans Administration assists eligible U.S. Veterans purchase a home by providing low closing cost and special financing options.
The Guaranteed Rural Housing Loan Program may be ideal for first-time homebuyers and provides special financing options on homes located in eligible rural communities.
Lot and Land Loans
These loans provide financing for the purchase of land to build a residential home.
Short term financing to be used for construction of a new property. You will make interest-only payments during the construction period. Construction draws will be handled through a local title company and upon the completion of the home, the loan can be refinanced to a Fixed Rate Mortgage product.
Portfolio Lending Options
Hickory Point Bank offers in-house solutions for borrowers that are looking for options outside of conventional lending programs.