If you plan on staying in your home for several years, you may want to consider a fixed rate mortgage loan. Select Bank offers conventional fixed rate mortgage loans at very competitive rates for 15 to 30 years on primary residences, second homes and investment properties for purchase or refinance.

These mortgages enable you to lock-in your rate and to achieve consistent payments. Ask us about our no fee refinance first mortgage, free interest rate lock and our free mortgage pre-qualification. Select can save you a lot of money and simplify the mortgage process.

If you do not plan on staying in your home for more than a few years, you should look into an Adjustable Rate Mortgage Loan. The initial rates are lower than a fixed rate mortgage, you benefit from annual rate caps and the rate is tied to well-established indices.

You can achieve low monthly payments due to lower rates and the 30 year repayment schedule. What’s more, you can benefit from our no application fee mortgage and our free mortgage pre-qualification before you begin looking for a home.

If you are planning on building a new home (including modular), you’ll want to consider a Select Construction/Permanent Loan. A single application and closing is all that is required.

Funds are advanced during the construction phase as work is completed and you pay interest only on the amount advanced. Once construction is completed, the loan automatically converts to a permanent mortgage.

Our lenders are experts in construction/permanent loans and will be happy to answer any questions you may have.