Homeownership is Possible!
Funds for the 2025 Downpayment Plus grant program through the Federal Home Loan Bank Chicago are now available, and NEBAT can help you determine eligibility. Learn more.
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National Exchange Bank has many financing programs available to help make the home buying process easy. Our goal is to provide the highest level of service at competitive rates so you can sleep good at night in your home.
Looking for a Pre-Approval Letter? Try Pre-Qualification!
Unlock the door to your dream home with a pre-qualification letter. This helps you understand your buying power and shows sellers you're a serious buyer. Get started with our online loan application or reach out to your local lender to get your pre-qualification letter!
What are Adjustable Rate Mortgages (ARMs)?
Unlike a fixed loan, an Adjustable Rate Mortgage (ARM) home loan includes terms that allow the rate to change after a specified period of time.
How does an Adjustable Rate Mortgage (ARM) work?
After the initial fixed rate period (3 years or 5 years) the adjustable rate is based upon the 1-Year Constant Maturity Rate +3.500% (rounded up to the nearest 1/8 with 2/2/6 Caps).
What is the advantage of an Adjustable Rate Mortgage (ARM)?
Combat rising interest rates with an Adjustable Rate Mortgage (ARM) that features a lower initial interest rate versus a conventional loan.
Is an Adjustable Rate Mortgage (ARM) right for me?
An ARM may be a financing option to consider when you know this home purchase is shorter term; it may be a starter home, a temporary home during uncertain circumstances or a step on your way to your dream home.
First-Time Homebuyer?
With a competitive initial rate and special Loan to Value at a maximum of 95%, this is a great option to get you into your first home!
Ask your local lender about the details of this special 5/1 ARM!
3/1 and 5/1 ARMS
- Loan Amounts up to $806,500
- Owner Occupied 1-4 family homes and Second Homes are eligible
- Minimum of 650 credit score with a maximum 30-year amortization
- Loans over 80% Loan to Value require Private Mortgage Insurance
- Loans retained and serviced by NEBAT
- Purchase, Rate and Term Refinance, and Cash Out Refinances available
- Rates and Terms subject to change
JUMBO 3/1 and 5/1 ARMS
- Loan Amounts more than $806,500 up to $1 million
- Owner Occupied 1-4 family homes and Second Homes are eligible
- Minimum of 650 credit score with a maximum 25-year amortization
- Loans over 80% Loan to Value require Private Mortgage Insurance
- Loans retained and serviced by NEBAT
- Purchase, Rate and Term Refinance, and Cash Out Refinances available
- Rates and Terms subject to change
What is a Fixed Rate Mortgage?
With a fixed rate mortgage, the interest rate will remain the same for the duration of the loan. In return, your monthly payments remain the same.
What is the advantage of a fixed rate mortgage?
A fixed rate mortgage helps with predictability when budgeting. Without having to worry about your payment changing, you can budget and have peace of mind.
When rates are low, a fixed rate mortgage can help lock in the rate for the duration of the loan.
Is a fixed rate mortgage right for me?
This type of loan is good for those who may plan to live in a house for a long time, want predictability for their monthly payments, or those who are purchasing their home when rates are low.
Home Buyer’s Guide
We understand that buying a home is an exciting and sometimes daunting prospect. Check out this roadmap infographic on the home buying process, and feel free to contact one of our lenders to simply ask questions. We are here to support you throughout your home buying process.
Mortgage Closing Checklist
Use this simple checklist to help you prepare for closing. Keep in mind that homebuyers can be the target of fraud, so it is important to make sure all communications are with your trusted representatives, not an impersonator. Being informed and prepared for closing may help you avoid being a victim of fraud.
Online Loan Applications
To help the government fight the funding of terrorism and money-laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What does this mean for you? When you open your account, we may ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask for your driver’s license information or other identifying documents.
Loan FAQs
How do I figure out what my payments will be on a loan?
Your payments will vary depending on the rate you are offered based on your current credit score. Once you know the rate, you can plug it into our convenient loan calculator, along with the amount of time you will take to pay back the loan. This will estimate the monthly payment for you.
Is there a pre-payment penalty on home mortgage loans?
National Exchange Bank & Trust does not have a pre-payment penalty on its home mortgage loans. The customer may pre-pay any additional amount, any time and in any given year without penalty.
Can I be pre-qualified for a mortgage loan?
Yes. National Exchange Bank & Trust will pre-qualify a customer at no charge. The lender will advise you of the amount you could qualify for pending a verification of your pre-qualification application. You may use our online loan application or talk to your lender about getting a Pre-Qualification.
Are loan or mortgage rates for National Exchange Bank & Trust posted on the internet?
Due to varying market conditions, please contact your nearest National Exchange Bank & Trust office to inquire on our current loan rates.
