With You For The Moments That Matter: Buying A Home
Whether you’re in the process of buying a house or you’ve got a great vision for how to remodel your current home, we’re here to help. Our lenders have expertise in many home loan products.
Having a local, community lender guide you through the process makes it a whole lot easier. We’ll help you choose what loan works best for you, and we’ll assist you with every step. To help your busy schedule, we’re glad to meet with you on evenings or weekends.
Ready to get started?
Choose from a full line of lending products that fit your needs.
Buying a house is a significant milestone and The Callaway Bank takes pride in guiding you every step of the way. We have had the honor of helping mid-Missourians become homeowners for more than 160 years. We look forward to working with you to find the home loan that suits your needs.
Adjustable Rate Mortgages
Adjustable Rate Mortgages generally mean lower initial interest rates. Interest rates shift with market conditions instead of staying fixed. If selling or refinancing your home is on your radar during the early years of your mortgage, Adjustable Rate Mortgages may be the right fit.
Fixed Rate Mortgages allow you to plan and stick to a budget. With this type of mortgage, interest rates, payment amounts, and the duration of the loan remain steady and predictable. No fluctuation, no surprises.
If you are unable to make a large initial down payment, an FHA loan may be for you. These loans are insured by the Federal Housing Administration (FHA) and are popular with first-time home buyers. Talk to one of our home loan lenders to see if you are eligible.
Federal VA programs allow veterans and their families to reach their homeownership goals. Talk to one of our community lenders to see if you are eligible. We owe so much to our veterans. In honor of their service, The Callaway Bank wants to give back by waiving the appraisal fee on their home loans up to $1,000! Click here to learn more.
Living outside the city limits may make you eligible for a USDA loan. Our rural neighbors can reach the goal of homeownership with financing from the US Department of Agriculture.
If you’re ready to have your home built to your liking, you’ll be needing a construction loan. Most home construction projects take from nine months up to a year to complete, and this type of loan allows you to withdraw funds as needed to pay for the construction as it progresses. Once your home is finished, you’ll convert the HELOC to a permanent loan. We have lenders with many years of experience in guiding clients on this type of financing, and we’d love to help you. Read more about why a construction loan could be a good fit.
HELOC (Home Equity Line of Credit)
This can be used for debt consolidation, home improvement projects, and other things where a little extra money would be nice. A HELOC lets you borrow against the equity you have in your home. Check with your account too, but you may also be able to deduct the interest from your HELOC. Overall this type of loan gives you a lot of flexibility.