 |
 |
|
|
|
|
|
|
|
Whatever your needs – buying, building or refinancing your home, buying land, buying or refinancing your vacation property – our mortgage professionals will work with you to find the mortgage that’s right for you. At Kennebec Federal Savings, we offer a wide variety of mortgage products and services, each designed to fit your individual needs. Contact us for more information or Apply now.
|
|
|
|
|
|
|
|
Kennebec Federal Savings Mortgage Advantages |
|
|
• Approval in minutes, not days
• Reduced paperwork
• No application fee
• No need to pay points
• Option to “Lock” interest rate at application
• Competitive interest rates
• Decisions made locally
• Loans serviced locally |
|
|
|
Mortgage Pre-Approval Program |
|
|
Fast and free, our mortgage pre-approval program gives you an advantage when shopping for a home. Our mortgage professionals can help you decide which mortgage product best fits your needs and how much house you can afford. You will feel secure making an offer on a home with our pre-approval certificate in your hand. |
|
|
|
Fixed Rate Residential Mortgages |
|
|
A fixed rate mortgage offers the security and stability of a loan payment that never changes.
• Terms up to 30 years
• Finance up to 97% of the purchase price
• Low closing costs
• Monthly or bi-weekly payment options |
|
|
|
Adjustable Rate Mortgage |
|
|
An adjustable rate mortgage (ARM) may be your best option if you prefer lower initial monthly payments or plan to relocate or trade up. We offer the following ARM products to meet your financing needs:
• 1 Year ARM - The interest rate and monthly payment adjust every 12 months.
The interest rate change is “capped” so the rate cannot change more than
2% per adjustment and 6% over the life of the loan.
• 3/3 ARM – The interest rate and monthly payment adjust every 36 months.
The interest rate change is “capped” so the rate cannot change more than
2% per adjustment and 6% over the life of the loan.
• 5/1 ARM – The interest rate and monthly payment are fixed for the first 60
months then adjusts every 12 months. The interest rate change is “capped”
so the rate cannot change more than 2% per adjustment and 6% over the
life of the loan.
|
|
|
|
Construction Loans |
|
|
Our “no hassle” one closing Construction Loan saves you the cost of a second closing. After the 6 month construction period, the loan automatically converts to a permanent mortgage. It’s a construction loan and permanent financing all-in-one. You pay interest only on the amount outstanding during construction. With a competitive fixed rate and a flat construction fee, our construction loan is designed to simplify financing a new home. |
|
|
|
First Time Homebuyer Programs |
|
|
With Maine State Housing, eligible first time homebuyers can benefit from low fixed interest rates and low down payment requirements. When done in conjunction with Rural Development, little to no cash is required for down payment and closing costs. |
|
|
|
Mobile Homes With Land Mortgages |
|
|
Our Mobile Home Loans can be used to purchase or refinance a mobile home on land. Fixed and adjustable rate mortgage options are available. |
|
|
|
Land Loans |
|
|
Fixed and adjustable rate Land Loans are available with varying options and terms up to 30 years. We can help you find the option that is right for your land purchase or refinance. |
|
|
|
Seasonal and Investment Property Mortgages |
|
|
Mortgages with varying terms and fixed and adjustable rate options are available. We will work with you on financing a variety of investment and seasonal properties. |
|
|
|
