Mortgage

Most homeowners opt for fixed-rate mortgages because you always know what your monthly principal and interest payments will be. You can spread your home loan over a 30-year terms to lower your monthly payment or pay it off faster with a 10-, 15- or 25-year term. Adjustable-rate mortgages (ARMs) start with a lower initial rate that adjusts over time — ideal if you don’t plan to stay long term.

Get the financing you need and the flexibility to use it as needed with a Home Equity Line of Credit (HELOC), which lets you borrow against the equity you’ve built.*

• $10,000 minimum loan amount
• 10-year term
• Interest-only payments for first mortgage
• 1% of balance payment for second mortgage
• $199 document fee (bank covers all other loan costs)

*Must be borrowers’ primary residence, no rental properties, mobile homes or second homes. Home must be located within our lending market. Consumer purpose loans only. Subject to credit approval. Credit terms and conditions apply. See a JD Bank Representative for details.

Land, interim and permanent financing all under one roof. Once approved, you'll be on a draw schedule that follows the project’s construction stages. For the first 12 months of construction, you pay only the interest. Your construction financing converts seamlessly to a permanent mortgage when your house is finished. No additional closing costs needed.

If you're looking to buy a higher-priced home, consider a Jumbo Loan. This type of mortgage exceeds conforming loan limits established by regulation. While conforming limits vary by location, the limit is $832,750 in most of the United States, including south Louisiana. Jumbo mortgages can exceed these limits.

JD Bank facilitates three types of government loans that can make borrowing for a home purchase more affordable.

FHA loans are insured by the Federal Housing Administration (FHA) and can include flexible credit requirements, high loan-to-value allowance on refinancing and low down payments on purchase loans. The limit for an FHA Loan is $541,287.

For eligible suburban and rural home buyers in Louisiana, the USDA Rural Development Guaranteed Housing Loan program offers an opportunity to finance 100 percent of a home’s appraised value at favorable mortgage rates.

VA loans are guaranteed by the U.S. Department of Veterans Affairs (VA) and give veterans the chance to purchase a home on flexible terms. They require no monthly private mortgage insurance and offer 100 percent financing for qualifying buyers.

Lower your rate, reduce your term, or tap into your home’s equity to meet your goals.