Real Estate
- Adjustable Rate Mortgage
An Adjustable Rate Mortgage or (ARM) loan gives you a lower initial interest rate and monthly payment. Your interest rate is adjusted at a specific prearranged period or annually, based on a predetermined financial index. As your interest rate changes, so does your monthly payment. ARM’s may be “capped” meaning you are protected against significant fluctuations in your index.
- 1 – Year Adjustable Rate Mortgage (ARM)
A 1 year ARM has payments that adjust once each year and the payments are calculated up to a 30 year period. Typically, this type of loan offers the lowest initial start rate and can help you qualify for a larger amount.
- 3/1 – ARM
This loan has fixed payments for 3 years, and adjusts every year thereafter. Loan payments on this type of loan are calculated up to a 30 year period.
- 5/1 – ARM
This loan has fixed payments for 5 years, and then adjusts every year thereafter. Loan payments on this type of loan are calculated up to a 30 year period.
- Fixed Rate Loans
This is the basic type of home mortgage loan. You can choose up to a 15 year term. Your monthly payment, established at closing remains the same for the life of the loan.
Consumer Loans
If you are looking to purchase a new or used automobile, recreational vehicle let Pioneer Community Bank help you. We offer competitive rates and terms. Our lending personnel are ready and waiting to help you. They will make applying for a loan easy. To find out more information contact any of our full service facilities.
FDIC's Transaction Account Guarantee Program
Pioneer Community Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.