Loan Program Definitions

First National Community Bank offers a variety of loan programs with very competitive rates.

Fixed Rate Mortgages: 

As the name suggests, fixed rate mortgages are loans on which the interest rate remains the same for the life of the loan. The terms range from 10-30 years.

Adjustable Rate Mortgage:

5/3, 5/1.  The interest rate is fixed for an initial period and is subject to change every one or 3 years thereafter.  

Guaranteed Rural Housing:

No down payment or Mortgage Insurance required.  Income limits apply.

Lot Loans:
1 year or 3 year ARM. Minimum of 20% down payment required.  Payments are based on a 20 year loan.  Loan balloons in 5 years.

Construction Financing:   9 month term.  Interest only.  Self contractors welcome.

FHA:  Offering a 30 year fixed rate with 3.5% down. 

VA:  Zero down, 30 year fixed rate.