Mortgages

Owning your own home is "The American Dream," and our friendly, experienced mortgage lenders can help you make it a reality.  With flexible mortgage options, we offer loans to purchase, refinance, or construct your dream home with terms designed specifically for you.

 

Fixed Rate Mortgages

A fixed rate mortgage allows the applicant to lock in a rate and term for up to 30 years. This provides the security of knowing that the monthly principal and interest payment will not change. There are no pre-payment penalties if the client wishes to pay the loan off early or voluntarily increase the monthly payment.

 

Adjustable Rate Mortgages

Unlike fixed rate mortgages that have an interest rate that remains the same for the life of the loan, the interest rate on an adjustable rate mortgage (ARM) will change periodically. The initial interest rate of an ARM is often lower than that of a fixed rate mortgage, and consequently, an ARM may be a good option to consider if you plan to own your home for only a few years, you expect an increase in future earnings, or the prevailing rate for a fixed rate mortgage is high.

 

PHFA/Rural Housing

Kish Bank is a qualified participating lender with Pennsylvania Housing Finance Agency (PHFA), which offers below-market interest rates for home purchase loans to qualified homebuyers. Qualified buyers may also use the Keystone Home Loan Program to purchase and repair a home, receive closing cost assistance, and various other programs. For Rural Housing Service loans, no downpayment is required and the buyer may be able to finance closing costs, if supported by the appraisal. Other first-time homebuying programs may be available depending on the location of the home. Ask a Kish Bank lender if you qualify for one of these programs.

 

Construction Loans

With one application and one loan closing, clients can establish a construction loan that easily converts to permanent home financing. An interest rate can be guaranteed at the time of the application, and both fixed rate and adjustable rate options are available. Borrowers may also use this loan to purchase land and finance the cost of construction, all in one loan. If the land is already owned, the land’s equity can be used to finance construction and closing costs.

 

Custom Mortgage Programs

With our expertise and financial resources, we are able to offer programs for qualified borrowers who would like to purchase a property that requires individually-tailored mortgage financing.


 

Free Pre-Approvals

Kish Bank offers a free pre-approval program to pre-qualify borrowers for a mortgage loan. After we review your financial condition, we issue a Pre-Approval Letter that states the borrowing capacity of the applicant. This letter helps the homebuyer determine how much they can afford to borrow from the start, speeding up the process once a property is selected and the offer is accepted.

 

Why You Should Get Pre-Approved

At Kish Bank, we want to help make your home buying process informative, quick and convenient. By becoming pre-approved, your processing time will be reduced significantly, allowing for a faster home-buying experience.

• The pre-approval is valid for ninety (90) days

• The pre-approval will reflect your maximum monthly mortgage payment

• Certain restrictions apply

Pre-Approval Process

1. Applicant completes a simple pre-approval application.

2. Applicant meets with a Kish Bank lender who will assess their credit history and discuss their current financial condition. The lender can determine the mortgage amount the applicant will qualify for based on the information provided.

3. Kish Bank will issue a certificate of pre-approval within two business days of submitting the application.