Real estate loans
Mennonite Financial has a variety of loans options available for the purchase of real estate. These include both first mortgages, home equity loans, home equity lines of credit, as well as construction and other types of property loans. Both fixed and variable rate options are available.
Fixed rated
We have a variety of fixed-rate products available through PHH Mortgage and AgFirst. Our staff administers the application process, handles the paperwork, and arranges settlement. These loans must meet secondary market requirements.
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Adjustable rate mortgages (ARMs)
We have a variety of adjustable rate mortgages available, including 3/3 and 5/5 ARMs. We loan up to 80% of the appraised value of a property, depending on credit score and loan amount. Interest rates are indexed to the U.S. Treasury bills.
Standard home equity
Mennonite Financial offers a standard home equity loan at a fixed rate for five years. We will loan up to 95% of the value of your property, depending on credit score and amount of the loan.
Applying for a mortgage loan
You can apply for a mortgage loan by going to our secure online application. To apply in Español, complete the PDF file and fax it to one of our offices.
Fixed rated HELOC
Up to 95% of the value of your property, depending on credit score and amount of the loan. Available with a four-year draw period.
Adjustable rate HELOC
Up to 95% of the value of your property, depending on credit score and amount of the loan. Available with a seven-year draw period.
Applying for a HELOC
To apply for a Mennonite Financial home equity line of credit, go to our secure online application.
Mennonite Financial offers construction loans, which can be converted to regular mortgage loans upon completion of your home. We also offer part-time farm loans and rural home loans.
For more information, or to apply for one of these specialty real estate loans, call 800-451-5719, weekdays from 9 a.m. – 5 p.m., ET, and ask to speak with a mortgage loan officer.