The First National Bank of Odon retains all servicing for your mortgage with us which means you send the payments to us and you can talk to a live person anytime about your mortgage loan. We also understand that your house is a big investment so we keep our closing costs low. 

Fixed Rate Loans (In House)
    7, 10, 12, 15 year fixed rate


Fixed Rate Loans (Secondary Market with First National Bank of Odon retaining servicing)
    15, 20, 30, 40 year fixed rates
    
Adjustable Rate Mortgages (A.R.M)***
    One year adjustable amortized for 20 years with a 2% term cap and 6% life cap
    Three year adjustable amortized for 20 years with a 2% term cap and 6% life cap

Construction Lines of Credit
    One year fixed rate with quarterly interest only payments

Land Loans
    Five year fixed balloon amortized for 15, 20, 30 years 

Please contact Debbie Brower for information. 

***Adjustable rate mortgage have a set term (one or three years) with a fixed interest rate during that term. When the term has expired the interest rate is recalculated for the next term. This recalculation of interest occurs at the end of each term until the final maturity date. This recalculation is controlled by the term cap. This means the loan’s interest cannot increase more than the cap per term or recalculation period. An example of this would be a 1 year A.R.M. would recalculate interest every year, while a 3 year A.R.M. would recalculate interest every three years.