Loans
The lending team at Mount Vernon Bank & Trust Company provides a breadth of knowledge and experience to help find the ideal loan solution for your commercial, ag or personal life.
Business Lending Options
Mount Vernon Bank & Trust Company wants to help your business succeed, and there are a number of loan options to help make it happen. Whether you’re opening for the first time or expanding, you can count on Mount Vernon Bank & Trust Company to be there for your business. Our experienced lending staff can help with:
- Commercial real estate loans
- Revolving lines of credit
- Loans for equipment and machinery
- Working capital and operating loans
- Guaranteed small business loans
Personal Loan Options
Mount Vernon Bank & Trust Company personal loans can be customized for any situation. However, we also offer an assortment of loans that can be used for various aspects of your personal life, including:
- Construction loans
- Renewable mortgage loans
- Long term fixed-rate loans
- First-time homebuyer loans
- Home equity loans
- Home equity line of credit
- Vehicle loans
- Agricultural loans
Construction Loans
Get your new home completed without all the hassle with Mount Vernon Bank & Trust Company. Our construction loan process allows us to advance funds to meet construction expenses as they are incurred. Once your home is finished, the amount borrowed can be converted to a long term fixed-rate mortgage or renewable mortgage loan.
Renewable Mortgage Loans
Processed and serviced in-house, renewable mortgage loans offer competitive interest rates and closing costs.
Long Term Fixed-Rate Loans
Offering security from fluctuating interest rates, your loan rate and monthly payment with these types of loans are fixed for extended periods of time. You also get flexible down payment terms and the option to pay a loan discount fee to secure a lower interest rate.
First-Time Homebuyer Loans
Mount Vernon Bank works with the Home$tart program, which provides the opportunity for down payment/closing cost grants for qualified applicants.
Home Equity Loans
Put the equity in your home to work for you! You can use it to help finance home improvement projects, purchase vehicles or boats, consolidate credit cards or other debt, take a vacation or cover other expenses.
Home Equity Line of Credit (HELOC)
Similar to home equity loans, HELOCs allow you to borrow against the equity in your home for a maximum dollar amount you are qualified for. HELOCs are an open-end revolving line of credit tied to a variable rate.
Auto Loans
Don’t hit the car lot without checking with us first for competitive rates, as we can pre-approve your loan to make car shopping a little easier. You should also be mindful that any “special financing” you find at dealerships rarely comes without some increased cost to you. When it comes to loans for a new vehicle, it can pay to talk to Mount Vernon Bank & Trust Company first.
Agricultural Loans
Agriculture is the foundation of Iowa’s economy, and Mount Vernon Bank & Trust Company offers the necessary loans to help area agricultural operations and farm families succeed. Come see Mount Vernon Bank & Trust Company about loans for crop expenses, livestock production or purchasing equipment and machinery.
Contact Mount Vernon Bank & Trust Company for more information about any of these loan options or to get started today!
