Loans

Loans are a necessary and beneficial financial tool for both personal and business use. The lending team at Mount Vernon Bank & Trust Company provides a breadth of knowledge and experience to help find the ideal loan solution for your company or personal life.

Business Lending Options

Mount Vernon Bank & Trust Company  wants to help your business succeed, and offer a number of loan options to help make it happen. Whether you’re opening for the first time or expanding, you can count on Mount Vernon Bank & Trust Company to be there for your business. Experienced Mount Vernon Bank & Trust Company lending staff can help with:

• Commercial real estate loans
• Revolving lines of credit
• Loans for equipment and machinery
• Working capital and operating loans
• Guaranteed small business loans

Personal Loan Options

Mount Vernon Bank & Trust Company personal loans can be customized for any situation. However, we also offer an assortment of loans that can be used for various aspects of your personal life, including:

Construction Loans

Get your new home completed without all the hassle with Mount Vernon Bank & Trust Company. Our construction loan process allows us to advance funds to meet construction expenses as they are incurred. Once your home is finished, the amount borrowed can be converted to a long term fixed-rate mortgage or renewable mortgage loan.

Renewable Mortgage Loans

Processed and serviced in-house, renewable mortgage loans offer competitive interest rates and reduced closing costs when compared to long term fixed-rate loans. 

Long Term Fixed-Rate Loans

Offering security from fluctuating interest rates, your rate and monthly payment with these types of loans are fixed for extended periods of time. You also get flexible down payment terms and the option to pay a loan discount fee to secure a lower interest rate.

First-Time Homeowners Loans

Specifically designed to help those buying a home for the first time, the first-time homeowners program offers relaxed down payments and debt-ratio standards.

Home Equity Loans

Put the equity in your home to work for you! You can use it to help finance home improvement projects, purchase vehicles or boats, consolidate credit cards or other debt, take a vacation or cover any other large expense.

Home Equity Line of Credit (HELOC)

Similar to home equity loans, HELOCs allow you to borrow against the equity in your home for a maximum dollar amount you are qualified for. HELOCs are an open-end revolving line of credit tied to a variable rate.

Auto Loans

Don’t hit the car lot without checking with us first for the most competitive rates, as we can pre-approve your loan to make car shopping a little easier. You should also be mindful that any “special financing” you find at dealerships rarely comes without some increased cost to you. When it comes to loans for a new vehicle, it can pay to talk to Mount Vernon Bank & Trust Company first. Learn more about auto loans

Agricultural Loans

Agriculture is the foundation of Iowa’s economy, and Mount Vernon Bank & Trust Company offers the necessary loans to help area agricultural operations and farm families succeed. Come see Mount Vernon Bank & Trust Company about loans for crop expenses, livestock production or purchasing news or used equipment and machinery.

Please feel free to contact us Mount Vernon Bank & Trust Company for more information about any of these loan options or to get started today!