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Have us contact you to see how much you may be able to borrow. Starting a relationship now will also help you save time down the road.
Affordable Rates with a Variety of Terms
Adjustable-rate mortgages (ARM) have fixed monthly payments with flexible maturity options up to 30 years, and adjust at predetermined intervals based on the 1 year Constant-Maturity treasury rate (CMT). The interest rate and monthly payment may increase or decrease depending on the CMT rate at the end of the initial fixed rate period.
*Assistance with the down payment may be provided to qualified applicants through a program with the Home Ownership Center in Elkins. Contact a mortgage lender for details.
Get the Stability of Equal Monthly Payments For the Life of Your Loan
Fixed-rate loans allow you to lock in a rate for the life of your home loan. If you prefer to know exactly how much your monthly payment will be and what you will owe in interest over time, a fixed rate loan is a good option.
*Assistance with the down payment may be provided to qualified applicants through a program with the Home Ownership Center in Elkins. Contact a mortgage lender for details.
Take Advantage of Special Incentives to Buy Your First Home
Our first-time homebuyer loan is available to residents who have not owned a home in the previous three years or have never owned a home. The property must be an owner-occupied single family unit; manufactured housing on a permanent block foundation is eligible as long as you own the lot it is placed on. Single-wide mobile homes are excluded.
*Assistance with the down payment may be provided to qualified applicants through a program with the Home Ownership Center in Elkins. Contact a mortgage lender for details.
We’re the area’s premiere lender for manufactured & modular homes.
Whether you are looking for finance a singlewide or doublewide manufactured or modular home, we have a mortgage with low rates and flexible terms.
Finance your manufactured or modular home with an adjustable-rate mortgage (ARM) with fixed monthly payments and flexible maturity options up to 25 years; ARM loans adjust at predetermined intervals based on the 1 year Constant-Maturity treasury rate (CMT). The interest rate and monthly payment may increase or decrease depending on the CMT rate at the end of the initial fixed rate period.
Designed for Borrowers Seeking Financing Above $726,200
Jumbo Loans are higher balanced loan amounts that exceed the conforming loan limit, currently $726,200 for a single-family home. They are fixed rate loans available for primary residences, second or vacation homes, and investment properties.
Build the Home of Your Dreams
A construction loan allows you to finance the construction of your new home. During construction, disbursement is made to cover the cost to build, and interest is paid only on the outstanding balance. When construction is complete, the loan converts to a permanent mortgage.
Provide the Security You Need for Your Home Purchase
Title insurance provides protection against financial loss in case a defect in the title turns up at some future date. Possible defects include:
Additional information available at wvtitleexpress.com
Consolidate Debt/Cash-Out – A cash-out refinance replaces your current home loan with a new mortgage for more than you currently owe. You may withdraw the difference between the two home loans in cash to use the money for debt consolidation, remodeling, or other financial goals.
If you need to free up money in your monthly budget, refinancing with a lower interest rate or extending your term can lower your monthly mortgage payment. The lowered payment allows for more immediate needs.
Refinancing from an adjustable rate mortgage (ARM) to a fixed rate mortgage is a strategy you may use is you’re concerned about the prospect of rising interest rates. Before refinancing to a fixed rate loan, you will want to take into consideration if your home is a forever home or how long you plan to stay in your house.
Citizens Bank is your local resource for home loans, home equity lines of credit or loans, refinances, and first time home buyers. Start your application online or meet face-to-face with a mortgage loan officer. We will help you every step of the way!
| Loan | TERM | Interest Rate | APR | Payment Stream* |
|---|---|---|---|---|
| ADJUSTABLE RATE MORTGAGE (ARM) | no | no | no | no |
no | 1/1 ARM | 6.69% | 6.788% | 12 payments of $644.61 360 months amortization |
no | 3/1 ARM | 6.99% | 7.090% | 36 payments of $664.63 360 months amortization |
no | 5/1 ARM | 7.19% | 7.291% | 60 payments of $678.11 360 months amortization |
no | 7/1 ARM | 7.49% | 7.593% | 84 payments of $698.53 360 months amortization |
no | 10/1 ARM | 7.69% | 7.794% | 120 payments of $712.27 360 months amortization |
| FIXED RATE MORTGAGE | no | no | no | no |
no | 10-15 Year Fixed | 5.500% | 5.847% | 180 payments of $898.79 |
no | 21-30 Year Fixed | 5.750% | 5.966% | 360 payments of $641.93 |
| HOME EQUITY | no | no | no | no |
no | Home Equity Line of Credit | 7.50% | 7.50% | Interest-only payments; minimum $100 |
Mortgage Rates effective as of September 23, 2024 and subject to change at any time. The following additional terms and disclosures should be reviewed in conjunction with the information provided above.
Adjustable Rate Mortgage: The initial interest rates for the 1 Year ARM, 3/1 year ARM, 5/1 Year ARM, 7/1 Year ARM, and 10/1 Year ARM is in effect for the first 12 months, 36 months, 60 months, 84 months, or 120 months respectively. Subsequent to the initial interest rate period, the APR is subject to change every 12 months. The interest rate reflects a 0.25% optional discount for an automatic payment from a Citizens Bank deposit account. The Annual Percentage Rates (APRs) disclosed above are based on a $100,000 loan amount, a $1000 origination fee, at least a 20% down payment the payment of certain customary fees at loan closing, 360 month term, credit score of at least 740, and assumes a purchase of an owner-occupied one unit dwelling with no secondary financing for a property located in Randolph County, West Virginia. Give us a call at 1-800-797-5790 for terms available in your area. Higher interest rates may be required for loans that have less than a 20% down payment which will increase the APR and result in a higher loan payment. Interest rates and fees are subject to change without notice. Citizens Bank of West Virginia offers many different mortgage products; your APR may vary depending on the product for which you apply. All loans are subject to credit approval, appraisal demonstrating sufficient value, hazard insurance, flood insurance, if property is located in a special flood hazard area and a title search.
Fixed Rate Mortgage: Lending on Fixed Rate Products in all 50 US States. These interest rates are available for loan amounts up to $726,200.00. The Annual Percentage Rates (APRs) disclosed above are based on a $100,000 loan amount, a $1,098.00 processing fee, a $500 underwriting fee, at least a 3% down payment, the payment of certain customary fees at loan closing, a qualifying credit score of 620 or better. Loan terms can be 10-30 years, you choose. Give us a call at 1-800-797-5790 for terms available in your area. Mortgage Insurance may be required for loans that have less than a 20% down payment which will increase the APR and result in a higher loan payment. Interest rates and fees are subject to change without notice. Citizens Bank of West Virginia offers many different mortgage products; your APR may vary depending on the product and terms for which you apply. All loans are subject to credit approval, appraisal demonstrating sufficient value, hazard insurance, flood insurance if necessary, and a title search.
Home Equity: Subject to credit and property approval. Rates are variable and based on credit score over 740 and required automatic payment from a CBWV checking account. Rates and terms are subject to change without notice. All loans require a minimum payment of the lesser of $100 or the monthly interest due for the first 20 years during the draw period, after that time, the loan is converted to the repayment period of 10 years with a variable rate of interest. Annual Percentage Rate 7.50% as of September 18, 2024. $10,000 minimum line of credit required. Closing costs are waived with an initial draw of $5000 at closing. There is a $50 annual fee. Maximum LTV is up to 90%. Minimum floor rate 4.00% APR; maximum/cap rate 16% APR. Rate is variable and is based on the Prime Rate Index as published in the Wall Street Journal and is subject to change after consummation. During the draw period your monthly payment will equal the finance charges (interest) that accrued on the outstanding balance or $100 minimum, whichever is greater. An early termination fee of 2% of the loan amount with a max of $1000 will be imposed if HELOC is closed within the first 36 months. Payment Example: If you made only the minimum monthly payment and took no other credit advances, it would take 10 years to pay off a credit advance of $10,000 at an Annual Percentage Rate of 7.50%. During that period, you would make 119 payments of $119.37 and one final payment of $125.36.
*The payment stream information represents only the monthly principal and interest of your payment. Payments do not include amounts for taxes and insurance premiums, and your actual payment obligation will be higher.
Citizens Mortgage Corp. is a division of Citizens Bank of West Virginia.
Loans subject to credit and collateral approval. Restrictions may apply. Terms and conditions subject to change. Citizens Bank of West Virginia NMLS ID #509420
