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Loan Programs For You

Fixed Rate Mortgage - 30 year, 15 year and 10 year - These traditional loan types have a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

ARM (3/1 ARM, 5/1 ARM, 7/1 ARM) - These increasingly popular arms—also called 3/1, 5/1, or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a "5/1 loan" has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It's a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

VA - Veteran Administration Loan -  This program offers a zero down payment option with a 30 year fixed rate loan for eligible Veterans. 

FHA - Federal Housing Administration Loan - Looking for a low down payment option?  FHA only requires a 3.5% down payment.  There are no income or location restrictions.

USDA Rural Development Home Program - This program provides a zero downpayment option for low to moderate income households.  This is a great option for communities with less than 30,000 residences.  Let our Mortgage Loan Officers assist you in determine your eligiblity for this program.

Construction - We are proud to partner with you by financing the construction of your dream home. Your Mortgage Loan Officer can help walk you through the necessary steps and required documents to get things moving in the right direction. We can also provide you with a permanent loan once construction is complete. 

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Building or Remodeling?

We are proud to partner with you by financing the remodeling or construction of your dream home.  Your Mortgage Loan Officer can help walk you through the necessary steps!!! 

MidAmerica National Bank NMLS #410757
100 W. Elm Street, Canton, IL  61520
Direct:  (877) 647-5050
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