Farm Credit Services of Mid-America - Home Mortgage

Farm Credit Services of Mid-America
14231 Teetor Road
Hagerstown, IN 47346
Phone: 1-800-647-0299/765-489-4710
Fax: 765-489-4748

Whether you are buying your first home, upgrading to accommodate a growing family or are looking to refinance your current home, we offer several financing options exclusively designed for people who live or desire to live in the country.

Competitive fixed and adjustable rates
No requirement for expensive Private Mortgage Insurance (PMI)
No requirement to freeze your money in a non-interest bearing escrow account
You can prepay at any time without penalty
Ability to convert your loan rate when interest rate environments offer savings
Ability to lock in your rate
Local servicing of your account - your loan is not resold
Quick approval and loan closings, affordable payments

Which Financial Program is right for you?

Rate Saver
The Rate Saver is Farm Credit's way to save money on your mortgage loan! With this product, your interest rate can be a quarter to one-half percent lower and that translates into thousands of dollars saved over the life of your loan. By agreeing not to make early principal payments during the first 3 to 5 years of your loan contract, your interest rate will be reduced. In today's rate environment, this might be the right product for you. To learn more about our Rate Saver program, request a free copy of our RateSaver Brochure.

Convertible Rate Loans
A convertible rate loan offers a blend between savings versus security. You choose a fixed rate period that you're comfortable with and get the savings for opting for a shorter period. For example, with the 5/30 Convertible Loan, your loan rate is fixed for 5 years with the length of your loan up to 30 years. You enjoy the savings of a lower initial rate compared to 20- or 30-year fixed rate loans.

You choose a 5-, 10- or 15-year initial fixed rate period.
Loans can have terms up to 30 years making your monthly payments less.

Convertible rates are often lower priced than conventional fixed rate loans.

Fixed Rate Loans
These products provide a fixed rate for the entire life of the loan. If rates should drop in the future, you may be able to convert to a lower-interest rate loan.

Provide security of a full fixed rate that never changes.
Available for 10, 15, 20, 25 or 30 years with matching terms.

Rates can be locked-in before closing, giving you the advantage of a low market.

Adjustable Rate Loans
Commonly referred to as ARMs, you can select a 30-day adjustable rate that can change up or down each month. Another product is the 1-year Convertible rate mortgage. This loan features a fixed rate for 12 months which re-prices annually. There's a limit (or cap) on how much your interest rate can adjust each year and over the life of the loan.

Offer greater savings than the fixed rate and the convertible rate mortgages.
You can convert to a fixed rate at any time.