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Mortgage Solutions

At Bank of Old Monroe, we offer numerous personalized mortgage solutions to meet the varying needs of homebuyers and existing homeowners. Our experts understand the nuances of the mortgage loan process, and will ensure you’re well-informed every step of the way. To save you time and hassle, speak with a mortgage lender today to get prequalified. You’ll know exactly what you can afford, and with the variety of programs available, we’ll be sure to find what’s best for you!

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Adjustable Rate Mortgage (ARM)

Adjustable rate mortgages (ARMs) are home loans whose interest rates change, or adjust, as the financial market fluctuates. ARMs typically start with a lower interest rate than other loan options, but after an initial period of time, your rate and monthly payment will likely increase. For those who move often or plan to purchase a temporary home, an ARM could be a solution. Contact one of our friendly mortgage team members today to get prequalified!

Fixed Rate Mortgage

With a fixed rate mortgage, the interest rate stays the same for as long as you hold the loan, regardless of how rates may change in the financial markets. With a fixed rate mortgage, you know exactly how much you will pay in principal and interest on your home each month. Although taxes and insurance on your home may fluctuate from year to year, the interest rate will never change with a fixed rate mortgage. Consult with one of our experts today to see if a fixed rate mortgage is right for you!

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Home Equity Line of Credit (HELOC)

A home equity line of credit (HELOC) gives you the opportunity to utilize the equity in your home or land and turn it into cash to meet your financial needs. It will provide you with the flexibility of available funds when you need them.

Many common uses for a home equity loan include:

  • Home remodeling
  • Vehicle purchases
  • Home improvements
  • Debt consolidation

Since your home is used as collateral, this type of loan may be available at a reduced borrowing cost compared to other unsecured loans and credit cards that generally charge significantly higher interest rates. If you’re interested in a unique way to finance large purchases and projects through a home equity line of credit, connect with a member of our mortgage team!

Get Started with Your Mortgage Solution Today

Whatever your needs, wants, or goals, there’s a personalized mortgage loan solution for you at Bank of Old Monroe. With many mortgage options available, it can be difficult to determine which solution meets your needs. That’s why our experts take the time to explain your options and recommend the best fit. Contact a member of our mortgage team today to get started.

Meet our Mortgage Team:

* Please do not send sensitive information via email

Matt Arnold
Old Monroe

636-665-5601 Email

Matthew Bals
Moscow Mills

636-356-4000 Email

Maggie Schulte
O'Fallon

636-980-3585 Email

Matt Daniels
Wentzville

636-332-4906 Email

Dalton Gilbert
Troy

636-528-7400 Email
We Offer Both Personal and Business Banking Apps!

We know you have a busy lifestyle where making it into a local branch to do your banking is sometimes impossible. Oversee your finances on the go with our personal and business Bank of Old Monroe apps! Manage your accounts, check your account balances, or pay your bills with the personal banking app. Monitor your transactions, transfer money, mobile deposit, and approve ACH and wire transfers through the business banking app. It’s never been easier to perform banking actions – head over to our Mobile Apps page to learn more and download!

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