Mortgage Loans

Mortgage Loan Purchase Rates

Effective Date: Wednesday, April 8, 2020

Program Rates Points APR
30 Year Fixed (Conforming)* 3.000% 0.00% 3.165%
15 Year Fixed (Conforming)* 2.500% 0.00% 2.796%
10 Year Fixed (Conforming)* 2.375% 0.00% 2.806%

Mortgage loan refinance rates are available here.

*Rates are subject to change without notice. 

The information provided assumes the purpose of the loan is to purchase a property, assuming a 20% down payment and a loan amount of $100,000. The property is an existing single family home and will be used as a primary residence. An escrow account may be required.  Example: A loan of $100,000 at 5.00% APR results in 360 monthly payments of $363.50. Payments quoted do not include taxes and insurance and the actual payment obligation will be greater. The rate lock period is 60 days and the assumed credit score is 740. Your guaranteed rate will depend on various factors including loan product, credit profile, property value, occupancy, loan size, etc. To learn more about these programs and many others, please contact a Gate City Bank Mortgage Loan Officer.

Features

Gate City Bank provides better home loans:

  • Conventional Loans with fixed rates and adjustable rates
  • 15 month rate lock for proposed and new construction
  • The ability to close on your home quickly
  • Save time by signing documents electronically
  • Low down payment and no origination fee options
  • Construction-Permanent Loans (one time loan closing)
  • VA, FHA, and Rural Development Loans
  • First-Time Homebuyer Program (ND)
  • Lake Home Loans
  • Winter Home Loans

The BetterLife Student Loan Program is the unique option to refinance student loan debt at a fixed interest rate of 1.50% APR.1

To help guide you through the application process, we have prepared a check list of items to bring with you to your appointment with a mortgage lender.

What Our Customers Say

Gate City Bank did more for me in a few days, than my other bank did in 15 years.

-Nancy

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Additional Home Loan Information:

Read our Better Home Buying Guide.
Protect yourself against mortgage wire fraud

 

1 Terms and conditions may apply.