Eaton Federal Savings Bank - Home Mortgage

Eaton Federal Savings Bank

109 S. Main Street
PO Box 250
Nashville, MI 49073
(517) 852-1830

Mortgage Loans
Eaton Federal Savings Bank has been making the American dream come true for mid-Michigan families since 1937. We offer a wide variety of loan programs and options which allow us to tailor mortgage loans specifically to the needs of each customer. We also offer some of the best rates around and we service all of our own loans so our borrowers always deal with their local bank. But the best part of getting a mortgage from Eaton Federal is dealing with our professional loan officers and staff. We take a simple, trusted approach to mortgage lending so you can be sure you get the right loan, the right rate and the best service.

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Pre-Approvals...FREE!!!
Getting pre-approved for a mortgage loan is a great way to start the home buying or building process. At Eaton Federal, we love helping prospective borrowers determine the amount they qualify for, what their costs will be and what payments they can expect. And to make the process as easy as possible, our pre-approvals are fast (as little as 24 hours turnaround) and completely free. So contact an Eaton Federal loan officer today and get the process rolling!

Fixed Rate Mortgage Loans
The traditional fixed rate mortgage loan continues to be our most popular program.

* Use to purchase or refinance a 1-4 family primary residence or vacation home.
* Available in 30 year, 20 year and 15 year terms.
* Provides the peace of mind of a fixed rate and payment throughout the life of the loan

Adjustable Rate Mortgages (ARMs)
ARMs are a great choice for borrowers who want the lowest possible initial rate and payment or want to take advantage of lower mortgage rates in the future without having to go through the trouble and expense of refinancing.

* Use to purchase, build or refinance a 1-4 family primary residence, vacation home or investment home
* Up to 30 year term and amortization
* Two products available:
Product 1 has a fixed interest rate for the first seven years then adjusts annually thereafter.
Product 2 has a fixed interest rate for the first three years then adjusts every three years thereafter.

Land Loans
Whether you want land for future construction or just to enjoy some open space, Eaton Federal offers a loan program specifically for acquiring land.

* Use to purchase or refinance vacant land or a lot
* 5 year balloon loan with up to a 30 year amortization
* Rate and payment is fixed for the balloon term

Construction Loans
Eaton Federal has helped countless families build their dream home. In fact, construction lending is one of our specialties and we offer one of the best programs you'll find anywhere.

* Finance the construction of a primary residence, vacation home or investment home
* Choose any of our balloon or ARM loans and we'll add a construction phase to the front end. Rates are the same as non-construction loans
* One closing; no need for a second closing or conversion to a long term loan upon completion of the home like many other construction programs
* Rate and payment is fixed up front based on the loan type you choose; no rate and payment adjustment occurs after completion of the home like many other construction programs

Low Down-Payment Loans
Eaton Federal recognizes that not all borrowers possess the ability to make a large down-payment on a home but still possess the credit, income and most importantly the desire to buy a home. That's why we offer our qualified borrowers the option of a loan with a low down-payment. These loans do require mortgage insurance at an additional cost but they allow many borrowers to buy the home they want much sooner than would otherwise be possible.