Loans

Construction Loans

Construction loans have never been this easy. We advance funds to meet construction expenses as they are incurred. When the home is completed, the amount borrowed during construction may be converted to a Long Term Fixed Rate Mortgage Loan or a Renewable Mortgage Loan.

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Renewable Mortgage Loans

Renewable Mortgage loans are processed and serviced in house. These loans offer the advantage of competitive interest rates and lower closing costs than long term fixed rate loans. Interest rates are fixed until the maturity of the loan and may be renewed at competitive market rates.

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Long Term Fixed Rate Loan

This loan offers interest rates and monthly payment amounts that are fixed for extended time periods and offers flexible down payment terms. In addition, you may choose to pay a loan discount fee in order to secure a lower interest rate.

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First-Time Homeowners Loan

Our first-time homeowners program features relaxed down payments and debt-ratio standards. We make it easier for a first time homeowner to get started.

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Home Equity Loan

This type of loan uses the equity you have in your home to help finance home improvement projects, purchase vehicles or boats, consolidate other debit or credit cards, pay for that vacation you want to take, pay for college expenses or cover any other major purchase.

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Home Equity Line of Credit (HELOC)

HELOCs are similar to Home Equity Loans in that you are able to borrow against the equity in your home for any purpose. The difference with a HELOC is the way the loan works. A HELOC has a maximum dollar amount that you have qualified for. It is an open end revolving line of credit tied to a variable rate.

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Commercial Loans

Whether you are acquiring, expanding, or starting a business, we will work with you to build the right financial structure to support your company’s goals and objectives.

Commercial Real Estate Loans

We offer competitive commercial real estate loans for all types of buildings. Our experienced staff of commercial lenders will work with you to tailor an expansion, new construction, or refinance loan for you and your business.

Agricultural Loans

At Mount Vernon Bank & Trust Company, we offer a wide range of operating loans which can be obtained for crop expenses, livestock production, and purchasing new or used machinery. Our rates are competitive and our terms are flexible, making your goals our top priority.

Vehicle Loans

When you are buying a new or used vehicle, check with us first for the most competitive rates. We can pre-approve your loan to make shopping a little easier. You should always be aware that "special financing" at the dealership seldom comes without increased costs to you. Always compare a dealership's "special financing" terms to the cash price of a vehicle while using our competitive rates. Additionally, many of our customers consider using a home equity loan as a means to finance their car purchases.

See us today for your next vehicle purchase.

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Personal Loans

No matter what your needs, we can customize a loan for you. We offer secured and unsecured personal installment loans.

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Elan Visa Credit Cards

Start building your credit with one of our VISA® credit cards. Elan provides a variety of card features, reward programs, and competitive rates that are right for you. We offer both person and business credit cards.