Mortgage Loan Options at Timberwood Bank

Find the Right Mortgage Solution for You

Purchasing a home should be fun and exciting, a dream come true.  Our goal is to guide you through this exciting time of your life by helping you feel comfortable every step of the way.  Not sure how much of a house you will be able to afford?  Use our Mortgage Qualifier Calculator to help you determine the right amount for your needs.  Ready to get started?  Call a mortgage officer today at 608-372-2265!  You can even start the application process online.

Fixed Rate Mortgage Loan

A fixed rate mortgage may be just what you are looking for if you like the idea of stability. It can be a lot easier to budget your money when you know your mortgage interest rate isn't going to change every year.  Plus, Timberwood Bank offers you many options to customize a fixed rate loan to your need.  (Apply Now)

Adjustable Rate Mortgage Loan (ARM)

Our ARM loan programs are an attractive alternative for many home buyers.  The loan is fixed for the initial adjustment period and then adjusts based on an index.  ARM loans have annual and lifetime caps in case of an extreme change in the indexed rate.  You could save a substantial amount of money by choosing an ARM loan that fits your specific situation.  (Apply Now)

USDA-Rural Development Loan (No Down Payment Loan)

Homeownership is a dream that may seem out of reach for those who cannot meet traditional credit requirements or do not have the funds for high down payment requirements.  USDA-Rural Development provides an avenue for us to help.  Mortgages are given at a 30-year fixed rate at current market interest rates.  Loans may include funds for closing costs, guarantee fee, legal fees, title services, cost of establishing escrow and other prepaid items, if the appraised value is higher than the sales price.  Income limits do apply for this program.   (Apply Now)

Federal VA Loan

VA loans have many advantages and help provide housing for active duty service members, veterans, and qualified spouses.  These loans frequently offer lower interest rates than other types of loans and are often made without any down payment.  Another great benefit with a VA loan is that PMI (Private Mortgage Insurance) is not required.  (Apply Now)

WHEDA Loan (Wisconsin Housing Economic Development Authority)

WHEDA is a loan program that offers a variety of advantages like flexible down payment options, fixed interest rates, low monthly mortgage rate and even a mortgage tax credit up to $2,000 a year.  There are several types of loans to choose from and a Timberwood Bank lender can help you decide which WHEDA loan is the solution for you!  (Apply Now)

HELOC Loan (Home Equity Line of Credit)

A Home Equity Line of Credit is an excellent opportunity to take advantage of the equity in your home and offers an alternative to high interest rate consumer loans and credit cards.  If you are looking to make repairs to your home, purchase a new car, or need extra funds to go on a family vacation, a HELOC might be the tool you need to accomplish these things.  (Apply Now)

Construction Loan

Timberwood Bank’s “Construction Only” financing allows home buyers the flexibility to explore permanent loan options while their home is under construction.  During the construction period, you pay only interest on the funds that have been advanced.  When your construction is complete, we convert your loan into permanent financing with the loan product that fits your needs.  Timberwood Bank can provide guidance to save you money and keep things moving smoothly so that you can concentrate on what really matters:  cabinets, flooring, hardware, light fixtures...  (Apply Now)

Lot Loan

If you find the perfect piece of land to build your dream home, but aren’t ready to start building, a Timberwood Bank  Lot Loan may be the answer for you.  A Lot Loan will allow you to purchase land while giving you the time to plan and design the home of your dreams.  When your plans are finished and you have selected the contractor to build your home, we will pay off the remainder of your lot loan with a no-hassle construction loan.  (Apply Now)

All loans are subject to credit approval.  Timberwood Bank is an Equal Housing Lender.

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