Real Estate Loans and Mortgages from a Local Lender
Homeownership is the cornerstone of the American Dream, and Liberty National Bank wants to help you make that happen. Whether you’re purchasing a fixer-upper or building your
dream home, we’ll try to find the mortgage or loan option that will help your family take the next step.
Types of Real Estate Loans
We offer several different types of real estate loans. Our licensed loan specialists can help you find the one that’s right for you based on your goals. You can always
count on Liberty National Bank for competitive rates and a low fee structure. Please note that all loans are subject to credit approval. We offer the following loan options:
*All loans subject to Credit Approval.
Conventional (Fixed Rate) Mortgage Loans*
- The “traditional” type of loan maintains its original interest rate throughout the life of the loan.
Any change in monthly loan payments will be due to increases in other charges, such as insurance or taxes, which will naturally occur over time. Fluctuations in market rates over the term of your loan
won’t have any
impact on the amount of interest you pay because that rate is already “fixed.”
Fixed rate mortgage loans come in 10, 15, 20 and 30-year terms.
Adjustable Rate Mortgage Loans*
- While the name of this type of loan almost says it all, there are certain things about Adjustable Rate Mortgages (ARM’s) that you
should know. Because ARMs are subject to rate adjustments over time, the initial interest rate is set lower than standard fixed rates.
This rate provides you with lower payments initially or increased purchasing power. First-time homebuyers no longer tend to stay in their “starter” home for 30 years,
and experienced homeowners often plan to pay off their mortgage loan before the 30-year maturity date. Both of these customers may benefit from
choosing an ARM product with an initial fixed rate period that corresponds with how long they think it will take to pay off their loans.
- If your needs don’t fit within the framework of conventional or ARM mortgage loans, we’ll help you explore other options, including the following:
USDA Guaranteed Loans: To be eligible for a USDA (United States Department of Agriculture) loan, your household income must meet certain guidelines. Also, the home you plan on buying
must be located in an eligible rural area as defined by the USDA. Benefits of the program include no down payment and a 30-year fixed rate. Closing costs can sometimes be financed by these loans.
Welcome Home Program: The Federal Home Loan Bank of Cincinnati has designated funds from the Affordable Housing Program to help promote homeownership.
These funds are available as grants to assist homebuyers under the Welcome Home Program.
Contact one of our loan specialists for more information.
- Construction loans are used to cover the cost of building or remodeling a home. Funds are disbursed as construction progresses,
with Favorable construction period available
Pay interest only during construction
Draw-system: money released as construction progresses
Option available to roll construction loan into permanent mortgage upon completion and issuance of Certificate of Occupancy.
Home Equity Loans*
Depending on how much equity is in your home, you may be able to borrow agains its value with a home equity loan. These funds come with a low fixed rate and can be used for almost any purpose.
Home Equity Line of Credit*
- A home equity line of credit is ideal for those who will pay back their loans faster than required or who want a a line of credit for other purposes.
This line of credit can be used multiple times. Variable interest rates are tied to the prime rate as disclosed daily in the Wall Street Journal. If you are approved for a home equity line of credit,
Liberty National Bank will pay your closing costs.
- Vacant land loans are not offered by every lender, but Liberty National Bank will help you finance the purchase of a vacant property.
If you plan on building your home on this land shortly after purchasing this land, a construction mortgage may work for you as well. As always, we offer competitive rates and terms.
Licensed Loan Representatives
Expect the Best® from Liberty Loan Representatives. Our expert team of loan specialists will assist you in finding a loan to help you achieve homeownership.
We make quick and and local loan decisions to get you into your new home as soon as possible.
Our Mortgage Loan Originators have registered with the Nationwide Mortgage Licensing System (NMLS) in compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE).
SAFE is a major component of the 2008 Housing and Economic Recovery Act. It requires all mortgage loan originators to register with the NMLS Registry, to satisfy pre-licensing education, and more.
This is additional assurance that when you work with Liberty National Bank, you should always Expect the Best ®.
All registered mortgage loan originators receive a unique identifier number is to track their business activity, examination status and pre-licensing education reporting.
The NMLS ID assures borrowers that a mortgage loan originator has passed criminal and credit background checks.
Liberty National Bank’s NMLS ID is 431551. Below you’ll find each of our mortgage loan originators’s NMLS ID numbers.
When you’re ready to take the first steps towards homeownership, our team will be here to help you get started. With locations across Central Ohio, Liberty National Bank is here to help you begin
the mortgage application process. Contact one of our license representatives listed below:
Angela Dawn Hersh
Vice President of Mortgage Lending, Mortgage and Consumer Lender
NMLS #: 466766
Joyce Eileen Rostorfer
Assistant Vice President, Mortgage and Consumer Lender
NMLS #: 1004550
Evan A. Smith
Assistant Vice President, Mortgage and Consumer Lender
NMLS #: 577700
Corrine Suzann Mitchell
Mortgage and Consumer Lender
NMLS #: 555624
Bellefontaine North Office
Laura M. Stimmel
Assistant Vice President, Branch Manager, Mortgage and Consumer Lender
NMLS #: 769696