Home Loans at The Bank of Missouri
Whether you are purchasing your first home, moving to a larger home, or refinancing your existing mortgage, The Bank of Missouri has experts who will find the right home loan for your needs.
The mortgage industry is unique and constantly changing. Our experienced lenders will guide you through the process, making it as quick and stress-free as possible.
At The Bank of Missouri, you will find:
- Competitive interest rates and closing costs
- Local decision-making
- A wide range of home loan options
- Customized solutions to meet your needs
- Pre-qualification provided at no cost to you for better buying power
Take a look at some of our common loan options, then apply online or fill out the form below. Our lending team looks forward to working with you.
Conventional Loans
Our conventional loans offer a wide selection of options with either fixed or variable rates or payments. Purchase and refinance transactions are available.
- Up to 97% maximum loan to value (LTV)
- PMI (private mortgage insurance) is required on most loans with Loan to Value greater than 80%
- Purchase and refinance transactions available
- Portfolio loans and secondary market loans available
- Eligible property types
- 1 – 4 unit homes
- Approved condominiums
- Planned Unit Development (PUD)
Adjustable Rate Mortgage
Adjustable rate mortgages typically have lower interest rates during the early years of a loan, then increase over time. Is an adjustable rate loan right for you? Talk to us today to find out.
Residential Construction Loans
Build your dream home with a construction loan, which provides financing during the construction phase. Upon completion of your home, The Bank of Missouri will refinance the home to an appropriate loan program.
- Interest-only payments based on outstanding balance
- 80% maximum loan to value (LTV)
- Inspections and disbursements handled by bank or title company
- Eligible property type
- 1 – 4 unit owner occupied
VA Loans
VA loans offer long-term financing to eligible veterans, active duty personnel, or surviving spouses. Up to 100% financing is available for these loans, which are guaranteed by the U.S. Department of Veteran Affairs. Purchase and refinance transactions are available.
- Eligible property type
- 1 – 4 unit owner occupied
USDA Rural Housing Loans
USDA Rural Housing Loans are geared toward purchasing property with 100% financing in an eligible rural location.
- Up to 100% loan to value (LTV) based on appraised value
- Eligible property types
- Owner occupied single family detached
FHA Loans
FHA loans can help lower-income borrowers buy otherwise unaffordable homes. Lending limits will vary based on housing types and the state and county in which the property is located. FHA collects an up-front mortgage insurance premium along with an annual fee. Purchase and refinance transactions are available.
- 96.50% LTV on purchase transactions
- Eligible property type
- 1 – 4 unit owner occupied
