Home Mortgage Loans

• Competitive rates for home purchase, refinance, or construction 
• Available for primary residence, second homes, vacation homes, or investment properties 
• A wide range of terms customized to your unique situation 
• Variety of financing programs available: 
  • Fixed-rate mortgage loans
  • Portfolio mortgage loans
  • FHA, VA and Rural Development Real Estate Loans 
• Helpful loan advisors with working knowledge of the Iowa real estate market 
• Free pre-qualification for extra confidence when buying your home 
• Refinance your current home to potentially lower your rate 
• Quick, local decision-making and processing 
• Attentive, friendly service from start to finish

Fixed-Rate Mortgage Loans

A fixed-rate mortgage is the most common type of home loan. Once you lock in an interest rate, it remains the same. This fixed amount brings many people peace of mind.

Why?

The interest rate, monthly principal and interest payments stay the same for the entire life of the loan

If you choose a 30-year repayment plan, your monthly payments will be lower, but you’ll pay much more interest over the term of the loan.

A 15-year mortgage, by contrast, has higher monthly payments, but you’ll pay much less total interest for the duration of the loan. Both are worth considering.

Let our mortgage lenders help you decide which type of fixed-rate plan is best for you. And remember, nothing is set in stone. Depending on your income, your life circumstances, or current interest rates, you can always refinance from a 30-year to a 15-year loan, or vice versa.

Portfolio Mortgage Loans

Portfolio mortgage loans are an excellent option for many homebuyers. Also called balloon loans, these loans have a fixed rate term for up to seven years. However, your payments can be amortized up to 30 years so you can take advantage of lower monthly payments.

Once the term reaches maturity, these loans can easily be renewed if your payment performance has been good. Portfolio loans are generally not sold on the secondary market so they can be easier to qualify for than long term fixed rate mortgages. These loans are also a good option for non-traditional property, large acreages, and hobby properties.

You still need a good credit history and satisfactory income to expense levels, but Portfolio Mortgage Loans are underwritten and approved by Kerndt Brothers personnel and funded by Kerndt Brothers depositors!

FHA, VA and Rural Development Real Estate Loans

Kerndt Brothers lenders can assist you with applications for an FHA, VA, or Rural Development mortgage loan. These types of loans are funded by external agencies, but we’re here to help you access these opportunities.

At Kerndt Brothers Bank, we can be your experienced and local community mortgage lender. Contact us today to see how we can help with all your home loan and financing needs.

Loan Origination Disclosure

Please contact us at 800-577-5272 to speak with any of our mortgage loan originators at the bank for more information. They will be happy to provide you with more details on each program including interest rates, down payment amounts, loan terms, approval time, mortgage limits, and much more.