Real Estate Mortgage Loans

We offer a variety of home mortgage programs which are designed to meet a borrower's needs. Exceptional service, short turn around time, payment options designed to save interest, and very competitive rates make us the choice for your real estate mortgage.

Conventional Real Estate Mortgages

Real estate mortgages are available to any person who currently owns or is purchasing residential property in Marinette County or Menominee County. The bank's conventional mortgage generally requires a 20% down payment based on the property's appraised value, however we strive to build a mortgage to fit your particular financial situation. Please review the following aspects of our conventional real mortgage program to see if we meet your mortgage needs.

Amortization Term - The maximum amortization term on a conventional real estate mortgage is thirty (30) years, written as a 62 month renewable note. Please call us to find out the interest rate on this mortgage product.

Annual Percentage Rates (APR) - The APR is an artificial measurement of the relative cost of your mortgage. It is not the actual interest rate you pay on the mortgage loan. The actual interest rate is a part of the APR calculation. The APR allows you to compare different mortgage loans and the relative cost of each loan. It should not be the only factor you should consider before making a decision. You need to consider other factors such as the interest rate and the required fees or charges. A lower APR does not necessarily ensure that it is the best mortgage.

Loan Points - A loan origination fee charged on most new conventional mortgage loans.

Closing Costs - The bank will collect all costs associated with the mortgage process. The funds reimburse the bank for services provided in order to properly close the mortgage. Examples of these services are appraisals, title searches and insurance, document preparation, deed recording etc.

Construction Loans

Loans to construct a new home are also available. During the construction phase, interest is payable monthly on the total amount of funds disbursed during the construction period.

Residential Investment Property Mortgages

Residential investment property mortgages are available to any landlord who currently owns or is purchasing residential investment property in Marinette County or Menominee County. The bank's residential investment property mortgage generally requires a 25% down payment based on the property's appraised value, however we will strive to build a mortgage to fit your particular financial situation. Please review the following aspects of our residential investment property mortgage program to see if we meet your financing needs.

Amortization Term - The maximum amortization term on a residential investment property mortgage is twenty (20) years written on a one, two or three year renewable note.

Annual Percentage Rates (APR) - The APR is an artificial measurement of the relative cost of your mortgage. It is not the actual interest rate you pay on the mortgage loan. The actual interest rate is a part of the APR calculation. The APR allows you to compare different mortgage loans and the relative cost of each loan. It should not be the only factor you should consider before making a decision. You need to consider other factors such as the interest rate and the required fees or charges. A lower APR does not necessarily ensure that it is the best mortgage.

Loan Points - A loan origination fee will generally be charged on all new residential investment property mortgage loans.

Closing Costs - The bank will collect all costs associated with the mortgage process. The funds reimburse the bank for services provided in order to properly close the mortgage. Examples of these services are property appraisal, title search and insurance, document preparation, deed recording etc.

  If you are interested in applying for a loan from Farmers & Merchants Bank & Trust, please stop in, telephone, or e-mail us a request using our Contact Us page