Mortgages

Mechanics is the community’s only independent residential mortgage lender. Call or visit any of our banking offices to talk about your needs or email Mortgage_lending@mymechanics.com to contact our Mortgage Loan Department. Our lenders are prepared to help you through the process of evaluating fixed rate versus adjustable rate, how much of a down payment is advisable and how long a term to select.

If you are considering building your dream home, Mechanics provides single-closing Construction Mortgage Loans that are appreciated by the homeowner and respected by our community’s homebuilders. To talk about your plans please contact any of our banking offices, call our Mortgage Hotline at 419-520-3686 or email Mortgage_lending@mymechanics.com.

Fixed Rates

  • Available for purchases or refinances
  • As little as 10% down payment for owner-occupied dwellings
  • As little as 15% down payment for non-owner-occupied dwellings (other restrictions apply)
  • Bi-weekly payment reduces principal more quickly than the contract term for a substantial interest savings over the term of the loan
  • Terms as long as 30 years
  • No Private Mortgage Insurance (PMI)
  • Reasonable closing costs
  • No prepayment penalty
  • No escrowing of insurance or taxes
  • Current interest rates and applications are available by contacting any Mechanics Bank office or by calling the Mortgage Hotline at
    419-520-3686

Adjustable Rate

  • Available for purchases or refinances
  • As little as 10% down payment for owner-occupied dwellings
  • Interest rates adjust periodically according to terms
  • Monthly payment of principal and interest
  • Terms as long as 30 years
  • No Private Mortgage Insurance (PMI)
  • Reasonable closing costs
  • No prepayment penalty
  • Current interest rates are available by calling any Mechanics Bank office
  • No escrowing of insurance or taxes
  • Applications are available by contacting any Mechanics Bank office or by calling the Mortgage Hotline at 419-520-3686

Construction Mortgage Loan (for Owner-Occupied Dwellings)

  • Single closing reduces costs
  • Either Fixed-Rate Mortgage Loan or Adjustable-Rate Mortgage Loan can be used (see those products for details)
  • Interest-only payments during prearranged construction phase
  • Applications are available by contacting any Mechanics Bank office or by calling the Mortgage Hotline at 419-520-3686

To talk about your plans, please contact any Mechanics Bank office, call our Mortgage Hotline at 419-520-3686 or email Mortgage_lending@mymechanics.com.

 

 

Mortgage Loan Originator Identification Number Listing

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The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires employees of federally regulated lending institutions who act as a mortgage loan originators ("MLO") to register with the Nationwide Mortgage Licensing System and Registry ("Registry"). Each Mechanics Bank MLO is registered with the Registry and has a unique identification number. If you would like to review the background of any Mechanics Bank MLO, find the MLO's unique identification number from the listing above and go to www.nmlsconsumeraccess.org to perform a search.