Residential Mortgages

Residential mortgages assist you in purchasing a property to live in. The loan is secured against the property and can come in various forms. Presence Bank is a local, trusted bank with over a century of experience helping clients reach their goal of owning a home. Whether you’re purchasing your first home or getting your dream home, you can count on us to provide a competitive interest rate with quality service.

Understanding Residential Mortgages

Residential mortgages are any loans taken against the property where you plan to live. These mortgages are a practical way for people to afford and invest in their own homes. Typically, the buyer provides the deposit for the house, and the lender covers the rest of the cost. The buyer then repays the lender with interest over time. There are multiple types of residential mortgages:

Fixed-rate mortgages: These mortgages charge consistent interest rates. You make monthly repayments for a set amount, usually between two and five years. The repayment period can be negotiated with the lender.
Variable-rate mortgages: Variable-rate mortgages or tracker mortgages have varying interest rates, which depend on the market or current bank base rates. These changing interest rates differ monthly, so the amount you pay follows suit.
Interest-only mortgages: These mortgages require you to pay only the monthly interest rates on the sum you owe. Once you reach the payment term, you repay the original amount you borrowed. Interest-only mortgages are less popular and are difficult to qualify for.
Repayment mortgages: With capital repayment mortgages, you pay both the interest payment and the original amount you borrowed in monthly installments. This mortgage type means you cover all outstanding amounts by the end of the mortgage term.

Our Loans and Credit Options

Discover which one suits your needs.

Residential Mortgages

Personal Credit Card

Home Equity Credit

Residential Mortgages

Whether you’re purchasing your first home or your dream home, you can count on us to provide a competitive interest rate with quality service.

Personal Credit Card

We have deposit and loan accounts to meet your financial needs at every stage of your life so you can maintain a relationship at a bank you trust for years to come. Simply put, our accounts are designed to help you prosper.

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Home Equity Credit

Use the equity in your home to fund your latest home renovation and enhancement projects, consolidate debt, fund college educations or pay for other financial needs.

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Why Choose Presence Bank for Your Residential Mortgage?

Presence Bank is committed to building long-term partnerships with clients, helping them at various life stages. We offer:

Knowledge and experience: Since 1919, we’ve been helping people realize their financial goals and fulfill dreams like owning a home. With more than a century’s experience, you can feel confident that your home and loans are in knowledgeable hands.
Trusted mortgage solutions: We are a state-chartered FDIC banking institution delivering industry-best solutions and rates. You can access our solutions online or in person, as you prefer.
Client-centric approach: As a local bank, we care for each client. We want to journey with you, support you in reaching all your savings and financial goals during your lifetime and help you build a legacy for your loved ones.

Enroll Today to Invest in Your Dream Home

You can get one step closer to owning your dream home. Presence Bank offers various mortgage solutions at competitive rates. We want to help you with practical solutions.

Invest in your future home by enrolling with us today.