Have you found your dream house and now you�re ready to take the next step towards making it your home? Montgomery Bank, with locations in Cape Girardeau, Jackson, Sikeston and Miner,is a community bank that focuses on building relationships with their customers, and they want to help you attain your goals.

There are many advantages to taking out a mortgage loan locally. One is that Montgomery Bank underwrites and services many of their loans at their local branches right here in Southeast Missouri. While online mortgage loans require you to call 1-800 numbers or email someone to discuss your loan, you can come in to Montgomery Bank to discuss your mortgage anytime during business hours, speaking face-to-face with a loan officer to get your questions answered.

�We�re all about the relationship, whereas online loans are more transaction-based,� says Monica Waldon, Montgomery Bank mortgage loan officer.

In addition to personalized, local service, fees are usually lower when taking out a local loan, and rates are often better.

Montgomery Bank lenders work hard to close loans punctually and take great pride in offering competitive rates to borrowers, all while building a supportive relationship with the borrower during this exciting life milestone.

__What types of loans does Montgomery Bank offer?__

Montgomery Bank offers a broad range of products for borrowers. In addition to traditional fixed rate programs, as well as rural development, FHA, VA, construction and lot loans, Montgomery Bank offers specially developed programs designed to meet the needs of homebuyers in Southeast Missouri.

�We�re a community bank, so we want to offer products that are beneficial to our community and not available elsewhere,� Waldon says.

Montgomery Bank has several types of specially designed loans, including:

__-15-year fixed rate with 5 percent down and no PMI__

While Private Mortgage Insurance (PMI) is required for most loans with less than 20 percent down, you�ll pay no PMI with this loan, adding up to significant savings over 15 years.

__-First-time homebuyer loan with 3 percent down and no PMI__

This loan is designed to provide more options to borrowers who are just starting out in their home-owning journey.

__-Adjustable Rate Mortgage (ARM) loans amortized over 30 years with a fixed rate for five or seven years, 10 percent down and no PMI__

If you�re not planning to live in your house for more than five to eight years, this could be the loan for you, as you will typically pay less interest than on a fixed rate loan since the rate is lower.

__-$5,000 grant for down payment and closing costs__

This grant is forgiven after five years if the loan is kept for at least five years and is especially beneficial for first-time homebuyers.

__-Physician and dentist loan program__

Borrow up to 100 percent of purchase price of the house, with no down payment required. Through this loan, Montgomery Bank partners with local hospitals and medical offices as they recruit new doctors and dentists to Southeast Missouri, making it easier for these healthcare professionals to purchase homes in the area.

__How does the application process work?__

Borrowers have several options for beginning the loan application process at Montgomery Bank:

1. Come in to one of five Montgomery Bank locations to have a lender fill out the application for you.

2. Call Montgomery Bank and set up an appointment to complete the application over the phone with a lender or provide your email address for the documents to be emailed to you.

3. Apply Online from the comfort of your own home whenever it works best for you.

Once you�ve submitted the application, you will find out if you are pre-qualified within 24 hours. Once you are pre-qualified and have a sales contract for the house you are going to buy, bring the contract in to a Montgomery Bank location to start the loan, a process that usually takes three to four weeks.

__Ready to make your dream house a reality?__

For more information or to begin a loan application, contact Monica Waldon, mortgage loan officer at Montgomery Bank�s Broadway location in Cape Girardeau, at (573) 986-5525. Or call Tina McRaven, mortgage lender at the Mt. Auburn location in Cape Girardeau and Jackson locations at (573) 331-8507. You can also visit https://montgomerybank.mortgagewebcenter.com/.

Congratulations � now go buy some fancy curtains.