Woodlands National Bank Current Mortgage Product Offerings

Apply online today! Click here to begin.

 

FNMA: Fannie Mae

Direct lender for Fannie Mae home mortgage loans. Underwriting is all done in Onamia!

  • 1-4 Family: Single family owner occupied purchase and refinances
  • 1-4 investment property financing, non owner occupied: Purchase and Refinances
  • Condo financing: Must be an approved project by FHA or HUD to qualify
  • Manufactured home financing up to 80% in some cases up to 85%
  • Direct lender for HARP loans with Fannie Mae (Home Affordable Refinance Program. This is designed for homeowners with good payment history but they may be upside down on what they owe versus the value of their home. No limits here!)
  • Mortgage insurance available to qualifying borrowers up to 95% purchase price leaving only 5% down payment required plus closing costs not paid for by the seller.

 

FHLB: Federal Home loan bank

  • 1-4 owner occupied first mortgages
  • Direct lender and underwriting is done in Onamia.
  • Mortgage insurance available to qualifying borrowers up to 95% purchase price leaving only 5% down payment required plus closing costs not paid for by the seller.

 

HUD Section 184: Native American Borrowers

  • Must be enrolled in a federally recognized tribe
  • 100% financing is available for qualified lower income borrowers
  • 97.75% financing for any income with NO private mortgage insurance
  • Expanded debt ratios allowed
  • Competitive interest rates
  • NAHI (Native American Homeowners Initiative) Grants: Up to $10,000.00 for down payment, closing costs and rehab funds. Income restrictive
  • Sellers can pay up to 6% towards closing costs.
  • Single wide mobile homes built after 1980 that meet HUD spec’s
  • Double wide mobile homes built after 1980 that meet HUD Specs
  • No minimum credit scores required.
  • Direct lenders and underwriting done in Onamia. Read more.

 

Rural Development

  • Rural Development: 100% financing available with no down payment. (buyer may be responsible for closing costs unpaid for by sellers.)
  • Sellers can pay up to 6% towards closing costs.
  • Good on rural properties not located in major cities or the 11 county Twin City Metro area.
  • Guarantee fee can be rolled into the loan.
  • Homes must be in good condition and meet FHA requirements for safe housing.
  • Manufactured homes must be NEW but are eligible.
  • Direct lenders and underwriting done in Onamia.

 

In House Loan Programs:

  • Bare land loans up to 160 acres
  • Seasonal cabins and lakeshore home loan programs
  • Single wide and double wide home loan programs
  • Construction loan programs for construction of residential homes, owner occupied first or second homes. This can be used to purchase a distressed home and remodel it for primary residence or second home purposes!!

 

Woodlands National Bank provides servicing for our home loans. We currently do not sell the servicing to other banks or brokers. So when a customer calls, they can talk to our group directly about any problems, issues or questions. We keep our clients informed throughout the mortgage process. Online mortgage loan application, is available 24/7 to all clients, real estate agents and brokers.

 

Our lending staff combined has over 50 years of mortgage background.

Mortgage loan officers at each of our seven locations

 

Apply online today! Click here to begin.