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  Exchange Bank and Trust Home Mortgage Loans

Exchange Bank and Trust Home Mortgage Loans

in Home Purchase Mortgages from Exchange Bank and Trust · NMLS ID #445799

Unaffiliated

Exchange Bank and Trust Home Mortgage Loans

Unaffiliated

in Home Purchase Mortgages from Exchange Bank and Trust · NMLS ID #445799

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Highlights
Loan Amount Up to $600,000
Loan Term (Years) 15 - 30 years
Credit Score Range 600 - 850

Exchange Bank and Trust Home Mortgage Loans Review

Exchange Bank and Trust Home Mortgage Loans is offered by Exchange Bank and Trust (NMLS #445799), a bank founded in 1856 and based in Atchison, KS. Exchange Bank and Trust Home Mortgage Loans is available in 1 state across the USA.

Key Takeaways
  • 4 different mortgage programs offered. Exchange Bank and Trust Home Mortgage Loans offers FHA, USDA, jumbo, and conventional mortgages.
  • Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
  • Standard interest rates types. Exchange Bank and Trust Home Mortgage Loans offers option ARM mortgages, adjustable-rate mortgages, and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, Exchange Bank and Trust Home Mortgage Loans does offer financing for primary and secondary homes (e.g. vacation properties).
  • High maximum LTV ratio. Exchange Bank and Trust Home Mortgage Loans has a maximum loan to value ratio of 89%, which is higher than average. Most lenders want you to have at least 20% equity.
  • Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Exchange Bank and Trust Home Mortgage Loans.
Exchange Bank and Trust Home Mortgage Loans Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Charges an origination fee.
  • Only available in 1 state.
Exchange Bank and Trust Home Mortgage Loans FAQ

How much can you borrow via Exchange Bank and Trust?

Exchange Bank and Trust Home Mortgage Loans allows borrowers to apply for loan amounts of up to $600,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with Exchange Bank and Trust Home Mortgage Loans?

Exchange Bank and Trust Home Mortgage Loans offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does Exchange Bank and Trust offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Exchange Bank and Trust Home Mortgage Loans offers home loans with APRs starting at 2.875% .

Does Exchange Bank and Trust Home Mortgage Loans charge an application fee?

Do they charge mortgage origination fees?

Yes, Exchange Bank and Trust Home Mortgage Loans may charge a loan origination fee.

Do they charge prepayment fees?

No, there are prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs are available?

Besides conventional mortgages, Exchange Bank and Trust Home Mortgage Loans offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.

What property usage types does Exchange Bank and Trust Home Mortgage Loans allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Exchange Bank and Trust Home Mortgage Loans allows the following property usage types: 

  • Primary home

What is the customer service phone number?

The customer service number for this business card is (913) 367-6000.

What is the support contact email?

The support contact email for this business credit card is ibank@myexchangebank.com.

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Availability

  Available in 1 state
Kansas
Availabile in all of Kansas

Feature Breakdown

No Prepayment Fee
Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Intended Use Primary Home
Maximum LTV 89%
Minimum Age 18
Property Type
  • Manufactured/Mobile Home
  • Multi-Family Home
  • Single Family Home
  • Townhome
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
Investment
Primary Residence
APR Starting at 2.875%
Loan Amount Up to $600,000
Loan Term 15 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
  • Option ARM
Mortgage Programs
  • FHA
  • USDA
  • Jumbo

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