Congratulations! You’ve found the perfect home. Or have you just started looking for your dream home? Either way, we can help.

We tailor our Fixed, Adjustable and Combination Rate loans to fit your needs, and offer:

• A variety of terms for most products.
• Loan amounts up to $500,000 and on a case-by-case basis even more.

Adjustable Rate Mortgages

Many people choose adjustable rate mortgages to get more cash out and lower initial monthly payments. There are other great reasons as well.
  
Fixed Rate Mortgages

Want the same monthly principal and interest payment for the life of your loan? Learn what makes these loans ideal if you’re planning to stay in your home for more than 5 years.

1. Find a Real Estate Professional

There’s a good reason when 90% of home shoppers use the help and advise of a real estate professional when buying a home. These experts can save you time and money, not to mention significant frustration.

[Ways to find a qualified real estate professional]

• Yellow Pages
• Friend or neighbor
• Internet
• For sale signs in your neighborhood (especially those that have a “sold” sign)

2. Know how much you can afford

Before shopping for a home, you’ll need to identify an affordable price range. Factors to consider include the monthly payment, down payment and closing costs.

[Helpful links]

• To determine how much you can borrow based on the monthly payment you can afford, see our Monthly P & I Payment Calculator.
• Wondering what you should anticipate for the down payment and closing costs? Borrowers often use personal savings and even gift funds to cover these expenses.
• Depending on your credit history, lenders will require down payments that can range from 5% to 30% of THE PURCHASE PRICE. At Mountain National Bank, we offer a range of Low Down Payment options with many of our loan programs.
• Before making your decisions, take a look at our Decision Making Tools for mortgage calculators and information that can help you throughout the home-buying process.

3. Determine your offer

Found the perfect house? Now your real estate professional will help you make an offer to buy it.

[Things to consider in making an offer.]

• What are similar homes worth in the same neighborhood?
• Will the house need extensive repairs or is everything in “move in” condition?
• How long has the house been on the market? The longer it’s been available, the more eager the sellers might be to take a lower offer.

Once you decide on an offer price, you will need to include a check for an amount that shows you’re serious about wanting to buy the house. The seller will not cash this check unless he or she accepts your offer.

Only 3 things can happen after the seller learns of your offer:

• It’s accepted
• It’s rejected
• It’s countered with another offer from the seller

Either a rejection of your offer or a counteroffer by the seller releases you from honoring your original offer.

Call now to get pre-qualified 865-428-7176 or 1-877-591-4074

Before you make your offer, use our Online Pre-Qualification calculator. It gives you options for what you can expect to borrow. Once you know, you can make your offer with confidence.

4. Close the deal

Congratulations! The seller accepted your offer. You are ready to begin your loan process.

Before you approach your lender make sure the sales agreement includes the following standard conditions that protect you, the buyer.

[The sales agreement should include:]

• Sales Details -- The agreed upon sales price, the date the sale will close, who pays for which part of closing costs.
• Financing – Unless you’re paying cash, be sure to include that you must obtain financing from a lender to proceed with the sale.
• Satisfactory Appraisal – While the lender usually arranges the appointment with an unbiased licensed professional, specify the need for an appraisal that determines whether the home’s value is in line with the sales price.
• Satisfactory Inspections – Satisfactory property inspection from one or more licensed professionals. While this often requires an expense on your part, home inspectors can help identify problems with electrical, foundation, plumbing, roof or other areas. If you find issues, you then have options, such as renegotiating a lower price to compensate for the expenses you will incur or having the seller make the necessary repairs.

5. Make the most of having a home loan with us

After the financing is complete, you can count on Mountain National Bank to continue to be there for you.

[Ways we continue to serve you:]

Call or e-mail us whenever you want:

• Answers to questions about your loan account
• To explore refinancing, second mortgages or additional home loans
• More information on referrals for improving your credit

Rates and programs subject to change. For consumer use only, not for real estate or mortgage professional use. Some products not available in all states. Restrictions apply.

Member FDIC - Equal Housing Lender. Pre-qualification is neither pre-approval nor a commitment to lend; you must submit additional information for review and approval. Approval may be subject to rate increases, satisfactory review, and no change in financial condition. Refinancing may increase the total number of payments and the total amount paid when comparing to your current situation.