Why get a mortgage with Mechanics Bank?

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Familiarity

Your home is the centerpiece for the most important relationships in your life, so why not work with the bank that has made personal and lasting relationships a priority for more than 110 years.

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Convenience

  • No cost pre-approvals
  • Online or in-person applications
  • Your own dedicated Mortgage Loan Officer every step of the process
  • A convenient and secure digital portal to help reduce paperwork, and expedite the process

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Simple Solutions

A wide variety of home loan possibilities for most types of borrowers and properties.

  • Cash-out refinancing
  • Build equity faster with a shorter term
  • Lower your monthly payment with a lower interest rate refinance
  • Build your investment portfolio

Types of home loans we offer:

Interest-Only Mortgages

  • Pay only interest on the loan
    amount for a fixed period of
    time, then convert to principal
    and interest
  • Ideal to keep payment low if
    you only plan to stay in the
    home for a short period of time

HomeReady Mortgages

  • For home buyers who can't
    afford to make a large
    down payment
  • Expanded eligibility for financing
    homes in low-income communities

Reverse Mortgages

  • For senior homeowners with
    equity in their homes
  • No monthly mortgage payments

Out-of-State Mortgages

  • For homes outside of
    the Bank's territory
  • Financing and guidance to
    address special requirements

Fixed-Rate Mortgages

  • A fixed interest rate for the life
    of your loan
  • Predictable monthly payments

Adjustable-Rate Mortgages (ARM)

  • Lower interest rates in the early years
    of your loan
  • Interest rates and payments may increase
    over the life of your loan

Jumbo Home Loans

  • Larger loan amounts for
    high-priced housing markets
  • Competitive interest rates

 

Veterans Affairs (VA) Loans

  • For current or former members
    of the U.S. Armed services and
    surviving spouses
  • Lower down payments and typically
    easier credit qualification

Federal Housing Administration
(FHA) Loans

  • Lower down payments and typically
    easier credit qualification
  • Fixed-rate and adjustable-rate options

U.S. Department of Agriculture (USDA)
Rural Development Loans

  • For homes in specific
    rural or suburban-zoned areas
  • Typically requires no down payment

Access to State Sponsored
Financial Assistance

  • Help in exploring incentives,
    or other down payment and
    home buying assistance programs

Specialty Mortgages and
Investment Property Loans

  • Custom solutions for your personal
    or investment needs on single-family
    residential properties (1-4 units)
  • 1031 Exchanges
  • Portfolios to single properties