Find a Mortgage Option That Fits Your Goals
No two homebuyers are exactly alike. Whether you're purchasing your first home, looking for a low down payment option, or using the equity in your current home, VisionBank offers lending solutions designed to meet a variety of needs.
Home Purchase Loans
A conventional fixed-rate mortgage is one of the most common home loan options. It offers predictable principal and interest payments for the life of the loan, which can make budgeting easier over time.
May be a good fit for buyers who want consistent monthly payments and have a plan for their down payment.
Private mortgage insurance required on loans with a down payment of less than 20%. PMI protects the lender (not the borrower) if a borrower defaults. Borrowers must meet credit and underwriting criteria. Maximum loan amount limits may apply. All loans subject to credit approval, standard mortgage qualifications and underwriting requirements. Additional fees, conditions, and restrictions may apply.
VisionBank also participates in select affordable lending programs that may offer down payment assistance, closing cost help, or flexible qualifying options for eligible borrowers.
May be a good fit for buyers with lower down payments or credit scores.
Income, loan amount, and property restrictions may apply.
FHA loans are government-insured mortgage options that may help make homeownership more accessible for qualified buyers, especially those with a lower down payment.
VA loans are designed for eligible veterans, active-duty service members, and certain surviving spouses. These loans can offer valuable benefits for qualified borrowers.
USDA Rural Development loans may help qualified buyers purchase homes in eligible rural areas, often with little to no down payment.
Ask for details about eligibility, documentation and other requirements. Maximum income and loan amount limits may apply. Homebuyer education may be required. Borrowers must meet credit and underwriting criteria.
FHA loans: FHA mortgage insurance protects the lender (not the borrower) if a borrower defaults on the FHA loan. Each FHA borrower pays a mortgage insurance premium. The premiums are collected and used by the FHA to reimburse the lender (not the borrower) should the borrower default and the lender must foreclose upon the loan/sustain a loss. This insurance enables a lender to provide loan options and benefits often not available through conventional financing. Monthly Mortgage Insurance Premiums (MIP) and upfront mortgage insurance premiums (UFMIP) apply. Maximum loan amounts vary by county.
VA Loans: The VA guaranty helps to protect the lender (not the borrower) against loss if the borrower fails to repay the VA loan. Borrowers pay an upfront funding fee towards the VA guaranty. This guaranty enables a lender to provide loan options and benefits to military veterans and other qualified participants that may otherwise be unavailable through conventional financing.? VA funding fee applies except as may be exempted by VA guidelines. The fee is higher with a zero down payment, and maximum loan limits vary by county. If a down payment of 5% or more is made, the fee is reduced. The VA funding fee is non-refundable.
RD loans: require a one-time guarantee fee of 1%. The RD guaranty helps to protect the lender (not the borrower) against loss if the borrower fails to repay the RD loan. Borrowers pay an upfront funding fee and an annual guarantee fee thereafter. The guarantee fee is non-refundable.
Interest Rate Strategies
VisionBank offers interest rate buy downs, extended interest rate locks, and seller- financed temporary interest rate buy downs. Talk with your VisionBank Mortgage Lender about the best strategy for you.