Personal Mortgages
Buying a home is one of the largest purchases you’ll ever make. At Fidelity Bank, our mortgage lenders engage in a pre-purchase consultation where we spend time with you to explore your current financial condition, needs and desires, long- and short-term financial goals, target monthly payment, and home equity objectives. After the consultation, we then develop a home loan program with the most favorable combination of term, rate, fees and initial investment that fits both your present situation and your future plans. We offer an extensive array of first mortgage loans to buyers wanting to purchase a new or existing home, as well as homeowners wishing to refinance their current mortgage. As you begin the process of looking for a home please refer to our Home Buyer’s Guide and feel free to contact us at 404-639-6586 or email us at mortgage@lionbank.com.
Fidelity Bank offers a variety of home mortgages1 to fit your individual needs:
- Fixed Rate Mortgage
The interest rate on these loans is fixed for the entire term of the loan. - Adjustable Rate Mortgage (ARM)
Simple interest adjustable rate terms. These may be ideal if you anticipate moving in the near future. - Construction-Permanent Loans
Take advantage of special programs that allow you to lock in your interest rate while your home is under construction. - Renovation Loans
Loans that help when you're ready to make improvements to your home. - FHA Loans
Allows qualified buyers to purchase a home with a lower down payment. - VA Loans
Available to veterans who served on active duty in the U.S. armed forces.
Fixed Rate Mortgage
Fixed rate mortgage interest rates stay the same for as long as you hold your mortgage, no matter how interest rates change in the financial market. With this type of mortgage, you know exactly how much you will pay in principal and interest on your home each month. Taxes and insurance on your home may change from year to year.
Additional restrictions may apply. Contact a Fidelity Bank Mortgage Lender.
Adjustable Rate Mortgage (ARM)
An ARM loan generally begins with an interest rate that is lower than a comparable fixed rate mortgage. Interest rate caps can protect you and help keep your interest rate and payments within your reach. However, this rate could go up after a certain time. If interest rates are low, an ARM may be a good option.
Additional restrictions may apply. Contact a Fidelity Bank Mortgage Lender.
Construction-Permanent Loans
Sometimes to have the home of your dreams, you have to build the home of your dreams. We have a loan that can help you do both—the Construction-Permanent Loan. Lower your costs and enjoy the tax benefits of carrying the construction loan yourself. (Consult your tax advisor.)
- Choose from a variety of construction terms and flexible loan amounts.
- Get low interest rates during the construction period.
- Utilize an Extended Rate Lock to guard against rising interest rates during the construction period.
- Pay most of your closing costs at the initial closing.
Building your dream home
Typically the funds are disbursed in stages during the construction process. After each stage of work an inspection is performed and the next disbursement is authorized. These construction draws are deposited into a special checking account, which is managed by either you or the builder depending on the specific terms of the contract.
Conversion to a Permanent Loan
When your dream home is complete and the final inspection has been performed, it will be time to convert your construction loan to permanent financing.
Additional restrictions may apply. Contact a Fidelity Bank Mortgage Lender.
Renovation Loans
A Renovation Loan from Fidelity Bank allows you to receive purchase and renovation funds on your new home.
When the renovations are complete, you can refinance both loans based on the new appraised value of the property.
We have several fixed rate terms available.
Restrictions: Borrower must perform renovations to an existing property totaling more than 10% of the completed value of the mortgaged premises. Cost of renovations must always be documented. Additional restrictions may apply. Contact a Fidelity Bank Mortgage Lender.
FHA Loans
FHA Loans, which are backed by the Federal Housing Administration, allow qualified buyers to purchase a home with a lower down payment than most conventional type mortgages. Loan amounts and appraisal restrictions may vary. These loans are available with fixed or variable rate options.
Other benefits of an FHA Loan include:
- Minimum down payment requirements. Your down payment can be as low as 3% of the purchase price.
- Most of the closing costs and fees can be included in the loan.
- Streamlined documentation may be used.
- Gifts from family members to cover down payments and closing costs are allowed.
- Sellers may contribute up to 6% of the buyer’s closing costs and prepaids.
Additional restrictions may apply. Contact a Fidelity Bank Mortgage Lender.
VA Loans
VA Loans are available to U.S. armed forces personnel who served on active duty and were discharged under conditions other than dishonorable during WWII and later. Eligible applicants must provide a VA Form 26-1880 (Certificate of Eligibility)
With a VA loan from Fidelity Bank you get:
- Little money down. There is usually no down payment required on a VA home loan, so you can secure financing with a minimum amount of money.
- Gifts from family members are ok. With a VA loan, funds for closing costs can be made up entirely of gifts from immediate family members.
- Issues with credit. You might still qualify for a VA home loan if you have little or no credit, or less-than-perfect credit.
Additional restrictions may apply. Contact a Fidelity Bank Mortgage Lender.
To find out more about any of our home mortgage options listed above please speak with one of our experienced mortgage lenders today. They are ready to help you with a loan that is tailored just for you. To get started, contact us at 404-639-6586 or toll free at 888.248.LION (5466) or via email at mortgage@lionbank.com.
- Loans are subject to credit and underwriting approval.