Building, Buying, or Remodeling?
Are you dreaming of a new home? Why not wake up and live in it? Take advantage of our online loan application and start living in the home – with the loan – of your dreams!
Fixed-Rate Loans
A fixed-rate mortgage keeps your payments the same for the entire life of your loan. You can choose between a 15-year mortgage, 20-year mortgage, and 30-year mortgage.
If you’re new to the mortgage process, no worries! We’re one of the best banks for first-time homebuyers, and we’ll help simplify home loans for you and walk you through the entire process.
Dieterich Bank offers several mortgage loan programs to fit the needs of our customers.
Conventional Loan
A traditional fixed-rate mortgage, so you’ll know what to expect. This is a great option for individuals planning on staying in their home for more than 7 years. If you plan to move within 7 years, check out an adjustable rate mortgage below.
USDA
The USDA mortgage program requires no down payment, for those who qualify, and is designed for borrowers in rural areas who do not have the credit score needed to qualify for a standard home loan.
FHA
This loan has less stringent credit and income requirements than a conventional loan. For qualifying individuals, the downpayment could be as low as 3.5% and closing costs can be bundled into the loan amount.
VA
VA loans are designed to help qualified veterans, reservists, and active-duty members finance their home. This loan does not have to be a first-time home purchase and offers 100% financing with no monthly mortgage premiums.
Lot and Construction Loans
If you’re ready to buy land or start building your future home, Dieterich Bank’s lot and construction loans can help you through the process.
- Lot – Purchase the perfect location for your future home with land-only financing, while you take extra time to customize your house plans.
- Construction Loan – Our competitive construction rates will make financing your building process easy. Once the project is completed, we’ll work with you on the best long term loan option for you.
Adjustable Rate Mortgage (ARM)
An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. Dieterich Bank’s ARM features a fixed-rate for the first 7 years. After that, the rate could change annually based on mortgage interest rates at that time.
Adjustable-rate mortgages feature lower monthly principal and interest payments during the initial fixed interest rate period. Later, the interest rate will be variable and will adjust annually.
Home Equity Line of Credit (HELOC)
Use the equity you have built up in your home to help fund a big project or pay for unexpected expenses.
Access available funds as you need them to help pay for home improvement, debt consolidation, purchasing a vehicle, or many other uses.
Refinance
Replace your current mortgage with a new loan to shift debt to a better place. At Dieterich Bank, you have refinancing options.
The possible benefits of refinancing include:
Lower interest rates
to lower your monthly payment
Shorter term
to pay off your mortgage sooner
Switch from an adjustable-rate mortgage to a fixed-rate loan
or vice versa if it fits your situation better.
Refinance Calculator
Try out our calculator to see if refinancing may be a good idea for you.
Have a quick question?
We’re always here to help. For questions concerning your banking needs, fill out this simple form, and we’ll be in touch soon!
