Applying for a mortgage loan means you’re preparing to make a big decision in your near future. We want to ensure that you are informed and ready every step of the way.
Buying a home is a big life decision and the process of applying for and taking out a mortgage loan can seem pretty intimidating. At Richwood Bank, we offer a wide variety of mortgage options to help you buy a home based on your specific needs. So, whether this is your first home or one of several, we will be by your side every step of the way to make the process seamless and easy.
Looking to lower your monthly payment, pay off your mortgage sooner, convert to a fixed rate, or even tap into your home’s equity to get cash out for a big purchase? A mortgage refinance might be the right fit for you.
Home Equity Loan
Put your house to work for you—use the equity you have in your home to get financing for your next big purchase or project or even consolidate some debts. From paying off credit cards to building that deck you always wanted, your dreams can become a reality. Loans are based on your home’s value and lines of credit. Installment loans are also available.
Can’t find that ideal house to buy but have found the perfect lot to build on and you want to secure it for the future? Let us help. We offer lot loans to qualified buyers that are tailored to your needs. So whether you are building in five months or five years, we can help turn your dream into a reality.
Whether you are building on land you already own or are buying land now, using a famous contractor or a small town company – we have options for you. We can’t control the weather or the labor that goes into constructing your dream home, but we can make the financial progression as effortless for you as possible.
Financing can be challenging for any homeowner, and this is especially true when it comes to mobile and manufactured homes. Whether you are purchasing a mobile home that sits in a community or a home that is permanently installed on foundation, we may be able to help.
Meet Our Residential Lending Team
The process of applying for and taking out a mortgage loan can seem intimidating, but at Richwood Bank we want to make sure your experience is seamless. Whether this is your first home or one of several, we will be by your side to make the process easy, and yes, even fun!
We can't control the weather or the labor that goes into constructing your dream home, but we can make the financial progression as seamless and effortless for you as possible. Our expert home team can guide you from land to love.
Raising The Roof
When your contractor is ready to have building stages inspected, our expert team goes on site to meet with them and approve it. No red tape provided and you are consulted every step of the way.
Saving Time and Trees
We think all the paperwork that comes with financing your new dream home should be completed while you’re waiting for the build process to be finished – not while you’re packing. We create a one-time closing event during the construction phase – and lock in your rate.
Happy Builders, Happy Homeowners
We can transfer approved draw funds directly when available to save even more time! If not, we will still expedite contractor checks quickly because we know you want to keep timelines moving.
The “E” Team
Depending on the elements, dimensions and contractor variables, a new house can take up to a year. That’s a lot of in-between time to worry and wonder. If you would like Education, Encouragement or Explanations throughout the entire process, we’ve got you covered!