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Mortgage Financing Options

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Interest Rates That Match Your Interests

Republic Bank offers a variety of mortgage options at competitive rates, from fixed-rate, conventional and VA mortgages to construction loans and jumbo mortgages. Review the home mortgage loan types and complete our prequalification application to get started.


Conventional Fixed-Rate Mortgages

This type of loan provides a fixed term, meaning the interest rate and monthly payment stay the same for the life of your home loan.

Features:

  • Offer competitive fixed rates
  • No interest rate surprises
  • Can be used to buy a primary residence, invest in a second home or purchase an income property
  • No prepayment penalty
  • Best choice for people planning to stay in their home for a long time and who want a guaranteed payment if interest rates rise

Adjustable-Rate Mortgages

An adjustable-rate mortgage (ARM) is a home loan with an initial fixed-rate period, typically three to 10 years. ARMs offer initial interest rates that are generally lower than that of fixed-rate mortgages, but payments will be adjusted up or down as rates fluctuate.

Features:

  • Lower monthly payments for the first few years
  • Provides more buying power
  • Ideal for those who know they will be moving within the next few years
  • Rates cap to prohibit increases beyond a specific point
  • No prepayment penalty


Low Down Payment Mortgages

This type of home loan offers a smaller down payment option – as low as 3 percent, in fact.

Features:

  • Lower initial cash upfront
  • An easier way to buy a home
  • A good option for first-time buyers or those without a large down payment
  • No prepayment penalty


New Construction Loans

New construction loans are ideal for people who are building a home. Construction loans offer flexibility to build a home and convert the loan into a standard mortgage.

Features:

  • Fixed rates
  • No duplication of fees on most construction loans
  • Interest payments are charged only against the funds as they are used – not against the entire loan
  • Converts to standard mortgage after the home is completed


VA Loans

VA loans are government-backed home loans for service members and veterans. VA loans allow you to buy a home with little or no down payment, or refinance an existing home to get cash out or a lower monthly payment.

Features

  • Low or no down payment
  • No mortgage insurance requirement
  • Flexible qualification guidelines
  • Available as fixed-rate or ARM


Prequalify Now 

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