Home Loans From Trusted Lenders
If it's time for you to find a new home, Banterra has the expertise you need combined with a simple, convenient lending process. Whether you are building or purchasing a house, Banterra offers competitive rates, online tools and our mortgage lenders are ready to help you with a home loan that is best for you. Get started by contacting us to speak with a mortgage expert.
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Benefits Of Banterra Mortgages
Banterra is focused on providing you with the most convenient experience when it comes to applying for your home loan. Benefits of working with Banterra include:
- Competitive Rates
- Low Closing Costs
- Experienced & Helpful Lenders
- Free Pre-Qualification Online
- Online Applications
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If you'd like to learn more about the benefits of working with Banterra for your mortgage loan, please call us at 1-866-BANTERRA
Home Loan Options Available To You
| Loan Type | Loan Description |
|---|---|
| Fixed-Rate Conventional Loans | Provides a fixed interest rate to make budgeting easier. While your total payment may fluctuate if you escrow for taxes and insurance, your principal and interest payment will not change for the life of the loan. Conventional loans allow for down payments as low as 5%, with down payments lower than 20% that may require Private Mortgage Insurance (PMI). |
| Adjustable-Rate Loan | Rates will fluctuate after an initial locked in term (generally 5 years). Allows for some flexibility for borrowers or properties that do not meet conventional underwriting requirements. |
| USDA Rural Development Loans | Geared toward purchasing a property with 100% financing (no down-payment) in an eligible rural location. Eligible property type must be owner-occupied, single-family detached. USDA collects an upfront Guarantee Fee that can be financed into the loan (up to the appraised value of the property), as well as an Annual Fee that is paid as part of your monthly payment. You do not have to be a first-time homebuyer to qualify. |
| FHA Loans | Designed for borrowers looking to purchase a home with a low down payment (3.5%), but who may have challenges qualifying for a conventional loan. FHA charges an Upfront Mortgage Insurance Premium that can be financed into the loan, as well as an annual Mortgage Insurance Premium that is paid as part of your monthly payment. You do not have to be a first-time homebuyer to qualify. |
| VA Loans | This loan is available to US veterans, active duty personnel, and some reservists. VA loans offers 100% financing (no down-payment) with no mortgage insurance requirement. Closing costs are similar to conventional loans and the VA may charge a Funding Fee. |
| Jumbo Loans | Mortgages designed for borrowers who are currently looking to finance more than the conventional loan limits ($548,250 in most areas for 2021). These loans may require a larger down payment and higher credit scores than conventional loans. |
| Doctor Mortgage Loan | Mortgage option designed specifically for physicians. We realize that becoming a physician takes a lot of time, commitment, and money which can make a down payment for a mortgage a challenge. This loan features fixed- and adjustable-rate choices, employment start dates up to 90 days after closing allowed, and 100% loan-to-value available for mortgages up to $650,000. |
| Home Possible Loans | While you do not have to be a first-time home buyer to be eligible, Home Possible is a mortgage option designed with first time homebuyers in mind. This conventional loan option offers a down payment as low as 3%, a low fixed-interest rate, and reduced costs for Private Mortgage Insurance (PMI). |
| Home Renovation Loans | Home Renovation Loan can be used to purchase or refinance a home and make improvements to the home after closing. Financing up to 90% (based on the lesser of cost or appraisal after renovations are made) and can be used for any type of renovation or repair as long as it is permanent. |
| Vacant Land/Lot Loan | This loan option can be used to purchase or refinance vacant land that is for personal use. This includes lot loans and recreational or hunting properties. |
| Fixed Home Equity Loan | This loan draws from the equity in your home. Borrow up to 90% of the value of your home (less any subordinate mortgage balance). The interest rate is fixed for the life of the loan. |
| Home Equity Line of Credit | This is a great way to access the equity in your home for home improvements or to consolidate debt. You can borrow up to 90% of the value of your home (less any subordinate mortgage balance). The interest rate fluctuates with Prime. Since it is a line of credit, it works similar to a credit card in that you have a limit that you can borrow up to and make monthly payments. |
You can start your application and pre-qualification online. Get started by clicking the button below.
NMLS #761878