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Mortgage Loans

Citizens National Bank offers a wide variety of mortgage loans to accommodate buyers of all types. The program you choose will depend on a variety of factors including income, credit history, interest rates, available cash, and how long you intend to live in the home. Your loan officer will be happy to discuss your options and answer any questions you may have.

Types of Mortgages

  • Fixed-Rate Mortgages - The interest rate remains fixed for the life of the loan. The principal and interest payments stay the same over the life of the loan and are structured to fully repay the loan at the end of the term.
  • Adjustable-Rate Mortgages (ARM) - Provides a lower interest rate right now, provided you're willing to risk higher monthly payments if the rates go up. You may want to consider an ARM if you are confident your income will rise in the coming years to comfortably handle any increase in payments, or if you plan to move in a few years.
  • Balloon Mortgages - Balloon Mortgages are like Fixed-Rate Mortgages, but after the first few years, the entire loan balance comes due. With a fixed rate and fixed payments, a balloon mortgage can be useful if you're planning to move within a few years.
  • Construction Loans - Construction Loans are structured to be permanent mortgages, covering both the lot you buy and the house you build on it. With an adjustable-rate construction loan, you will enjoy the advantage of one-time closing costs. Most loans are made with a construction period of six months during which you make interest-only payments.

Payment Options

  • AutoPay with eStatement - Never have a late mortgage payment with AutoPay!
    You specify which account and what date you'd like the payment to be automatically pulled from. You'll receive a notice when the payment has posted so you may view it through CNB Online Banking. Complete the one page form and drop it off at any CNB office to enroll. Download the form here!
  • Recurring Payment through CNB Bill Payment - Set and forget it!
    You may set up an automatic electronic payment yourself through CNB Online Banking. Simply designate which CNB account you'd like the payment to pull from and what date each month you'd like the payment to be made. Learn more about CNB Bill Payment.
  • Express Transfer through CNB Online Banking - Payment flexibility!
    Through CNB Online Banking, simply transfer money from your CNB checking to your mortgage account each month. You decide what day you make your payment and it posts the same day if you make the transfer before 6 pm Monday-Friday. Learn more about CNB Online Banking.
Consumer Handbook on Adjustable-Rate Mortgages
This handbook gives you an overview of adjustable-rate mortgages (ARMs), explains how ARMs work, and discusses some of the issues you might face as a borrowers.