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Lending Options


Local Lending

At Generations you will always talk with a real person throughout the loan process. Our lending specialists are always available to guide and assist you with any questions you have about your lending options. Use the provided contact form to get in touch with one of our lending experts! 

 

Traditional Mortgages

Fixed Rate Mortgages

Has a fixed interest rate for the entire term of the loan

  • For purchase or refinance
  • Borrow up to 95% of the home's value

5 - Year Adjustable Rate Mortgage (5/5 ARM)

Begins with a fixed rate for the first five years. Then, after five years the loan has an adjustable rate that changes annually.

  • For purchase or refinance
  • Borrow up to 95% of the home value

 

Specialty Mortgages

No Closing Cost Mortgage

Our No Closing Cost Mortgage offers a variety of features designed to make your dreams of homeownership possible.

  • For purchase
  • Fixed rate
  • Borrow up to 90% of the home's value
  • Minimum 10% down 

MyGenMortgage

Unique to Generations, a community focused mortgage created to make home ownership more attainable.

  • No down payment
  • For purchase or refinance
  • Fixed or variable rate
  • Borrow up to 95% of the home's value for purchase
  • Borrow up to 95% of the home's value for refinance

Construction Loans

Sometimes, the best way to get the home of your dreams is by building it from scratch.

  • For purchase
  • Fixed or variable rate
  • Interest only payments for the first 6-months during construction phase.

Federal Housing Administration Loan (FHA Loan)

Issued by the federal government and insured by the Federal Housing Administration. This loan is designed for those unable to make large down payments. 

  • For purchase or refinance
  • Fixed or variable rate
  • Borrow up to 96.5% of the home's value

 

Home Equity Products

A home equity line of credit (HELOC) gives a borrower the opportunity to secure a line of credit using their home’s current value. A home equity line of credit is used for purchases like education, home improvements and medical bills. However, you can use the credit anyway you choose.

Home Equity Line of Credit

Use the equity in your home to secure a line of credit. Has a fixed or variable rate for the entire term of the loan. Allows you to borrow money as you need it.

  • Fixed or variable rates
  • 10 year draw period
  • 15 year repayment period

Home Equity Installment Loan

Traditional installment loan financed in one lump sum. Has a fixed rate for the entire life of the loan.

  • Fixed rate and term

 

Consumer Lending

Automobile Loan

We can help you drive away with a new or used automobile, truck, SUV, or motorcycle.

  • Fixed Rate
  • No pre-payment penalty

Boat / RV / Motorhome Loan

Nothing is better than spending your leisure time relaxing on a boat or camping out in an RV!

  • Fixed rate
  • No pre-payment penalty

Snowmobile / Jet Ski / ATV / Off-road Motorcycle Loan

Spend each season riding your specialty vehicle through the snow, water or mud.

  • Fixed rate
  • No prepayment penalty

 

 

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We're excited you want to join the Generations family!