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Loans and Lines of Credit
Residential Mortgages
Fixed Rate Mortgage
Competitive Rates & Flexible Terms
The fixed rate mortgage is a staple in home financing. This is the mortgage loan that makes all of us comfortable and rest easy at night. Why? Because there is no question as to how much your monthly payment for this loan will be month after month, year after year. The interest rate will not change and therefore the loan payment will remain the same throughout the life of the loan.
At RiverHills Bank you will find our loan officers easy to deal with, our rates very competitive, and our processing fees low. We offer fixed rates for jumbo mortgages too!
- Primary Residences
- Second Homes
- Investment Properties
- Jumbo Mortgages
- Home Purchase
- Rate & Term Refinances
- Cash-Out Refinances
Program Features
- Fixed Interest Rate for the life of your loan
- Terms up to 30 years
- Competitive Rates
- Low closing costs
-
Some products do not require title
insurance!
Property Types
- One to four family detached homes
- Condominiums
- Manufactured housing
- Mobile homes converted to real estate
MyCommunityMortgage™
Planning to buy a home but worried about the down payment? STOP worrying!
No matter how hard you work or how much you save, sometimes it’s hard to get enough for a big down payment.
But now you can say goodbye to a big down payment and hello to your new home!
You may need to put little or no money down, depending on your situation, with MyCommunityMortgage™ - an affordable, flexible home loan. Even if you:
- Have limited savings for the down payment and closing costs
- Do not have an established credit history, but can show that you
pay your bills on time, like rent and utilities
We can work with you to find a mortgage that fits your situation and help you buy a home!
We offer MyCommunityMortgage and other affordable home loan choices for today’s world. MyCommunityMortgage is a trademark of Fannie Mae.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
Adjustable Rate Mortgages
Competitive Rates & Flexible Terms
Just moving into town for a year of two? Thinking interest rates will go down in the future and you want to take advantage of this? For some reason a fixed rate mortgage isn’t right for you? Don’t give up! You are probably the right candidate for an adjustable rate mortgage. Remember, this mortgage loan product works just like its namesake, the interest rate may change at specific intervals, so the amount of your monthly payment may increase or decrease.
You will probably have questions about this loan product and you should understand it thoroughly before signing on the dotted line, so give one of our loan officers a call. They are happy to help you through this process.
Fees and Costs
- Competitive Rates
- Low closing costs
- Some products do not require title insurance!
Property Types
- One to four family detached homes
- Manufactured housing
- Mobile homes converted to real estate
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
FHA Loans
(Federal Housing Authority)
FHA offers a fixed rate loan
program that works well for the first time
homebuyer. It allows individuals to
finance up to 97% of their home loan which
helps keep down payments and closing costs
to a minimum. This product is also the
only loan in which 100% of the closing costs
can be a gift from a relative, non-profit,
or government agency.
Insurance on FHA mortgages are often rolled
into the total monthly payment at 0.50% of
the total loan amount which is about half
the cost of private mortgage insurance on a
conventional loan. When the
loan-to-value reaches 78%, the additional
FHA insurance is dropped from the monthly
payment.
Program Features
- Fixed Interest Rate for
the life of your loan
-
Terms 15 to 30 year
- Competitive Rates
- Low Closing Costs
- Low Down Payment
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
OHFA Loans
(Ohio Housing Finance
Agency)
OHFA has helped thousands of
low-and moderate-income Ohioans realize
their dreams of owning a home through its
First-Time Homebuyer Program. This
program makes purchasing a home more
affordable for qualifying homebuyers by
offering 30 year, fixed rate mortgages at a
competitive interest rate.
My
Ohio Mortgage Highlights
- Minimum homebuyer out
of pocket
- Fixed Interest
Rate
- 1% origination,
zero discount points
-
Loan-to-Value up to 100%
-
Less than perfect credit histories and
nontraditional credit accepted
-
Section 8 homeownership vouchers
accepted as income
-
Community SolutionsTM
option with additional flexibility for
teachers, police officers, firefighters,
and health care workers.
Down Payment Assistance
OHFA offers down payment and closing cost
assistance to eligible borrowers, which can
greatly reduce their out-of-pocket expense.
Homebuyers can choose between a down payment
assistance grant of 2% of the home's
purchase price or a second mortgage of 4% of
the purchase price of the home secured by
the first mortgage single family bond loans.
Our loan officers will help you decide which
program is right for you.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
Construction Loan
Programs
Construction of a new home can be a daunting task! Purchasing property, picking our plans, working with a builder and then obtaining
financing for the project can be overwhelming. Relax, our goal at RiverHills is to make this process as smooth as possible by partnering with you and your builder.
RiverHills Bank is proud of our Construction Loan Programs. We offer a selection of loan products to suit your needs. Please call us and we will help you through the construction process.
Construction-to-Permanent Financing - there is one Closing, no interest rate risk, and, no re-qualification. The borrower has one loan that includes both construction and permanent financing.
- Note term up to 30 years; including six months for construction.
- Interest Rate adjusts with Prime during construction.
- Interest Rate for Permanent loan is determined prior to loan closing.
- Interest only on funds disbursed is billed monthly for six months. Principal and Interest payments begin following the six month construction period, or, earlier, if the home is completed sooner.
- There is no Commitment or Rate Lock Fee, however, a Pre-Payment penalty may apply in some cases. Ask your Loan Officer for details.
- The Borrower is offered a one-time float down Rate Option, free of charge, upon completion of the home. Ask your Loan Officer for details.
Construction Only Financing – the loan is to finance construction of your residence and does not include permanent financing.
- 9-month Note.
- Interest Rate adjusts with Prime.
- Interest only on funds disbursed is billed monthly.
- Upon completion, the loan is refinanced into any program available per borrower qualifications.
- A Rate Cap option for refinance is available, ask your Loan Officer for details.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
Land Loans
Looking for that quiet place to kick back? Looking to purchase property now with the dream of building that new home later? Or, maybe you just want to add to the real estate you now own. RiverHills Bank has an excellent product for the purchase of vacant land. We offer a five year balloon with a competitive fixed rate of interest.
Program Features
- Fixed Interest Rate
- Five Year Balloon
- Principal & Interest payments calculated on a Ten Year amortization
Fees and Costs
- Competitive Rates
- Low closing costs
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
Reverse Mortgages
Use your home to
stay at home and enjoy a better retirement!
A reverse mortgage from
RiverHills Bank can be a great way for
qualified homeowners who are at least 62
years of age to access the equity in their
homes. With a reverse mortgage, you can
continue to own your home, and neither you
nor your heirs will owe more than the
appraised market value of your home at the
time the loan is paid in full.
Additional Benefits
Include
- No monthly mortgage
payment
- The loan is not
due until the last homeowner leaves the
home
- No income, asset,
health, or credit requirements
-
Loan proceeds are tax-free
-
There are no limitation on how you use
the proceeds
A reverse mortgage can offer
peace of mind by providing extra income to
cover healthcare costs, home repair,
eliminate costly credit card or other
monthly payments or simply improve your
monthly cash flow. Since everyone has
different needs, we offer a choice of
reverse mortgage loan programs. Call us for
your free and confidential benefit analysis
today.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
Home Equity
Home Equity Line of Credit ENHANCED Fixed Rate Special
Designed for Borrowers with Excellent Credit. APR as low as
5.49%
Special Program Features
- Fixed Interest Rate for the first year and Variable for the
remaining nine years of term.*
- Revolving credit line with a 10 year term.
- Minimum payments are billed at interest-only monthly on the funds drawn.
- No up-front costs for lines of $20,000 or greater.
- Annual Fee of $50 waived with auto-payment from
RiverHills deposit account.
- Pre-payment penalty of $350 if closed within 3 years of Note Date.**
- Interest paid on this loan may be tax deductible; check with your tax professional.
To Qualify For Lowest APR
- Borrower Credit Score of 750 or higher.
- Employment and Income stability.
- New credit line of $20,000 or greater; or, an increase in an existing line of at least $20,000.
-
Line secured by Owner-Occupied property.
- Borrower has a qualifying checking
account with RiverHills Bank: Monthly Direct Deposit; and, Monthly Automatic Debit for HELOC payment.
- Loan-to-Value of 80%, or less.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
* Interest Rate is based on Credit Score and Loan-to-Value. Interest Rate is Fixed at the initial rate for
12 months. After 12 months, the rate will change monthly based on Prime. Example of interest rate for borrowers meeting the above criteria: Fixed APR of
5.49% for 12 months; beginning in month 13 through month 120, the APR will adjust with Prime minus a margin. This margin is based on credit score and loan-to-value. Stated APR of
5.49% is accurate as of
2/4/2008, Prime is 6.00%. Homeowners insurance required. Flood insurance required, if applicable.
** If no appraisal is necessary at origination, the pre-payment penalty will be reduced to $200.
Home Equity Line of Credit
INTEREST ONLY PROGRAM
APR as Low as Prime – 0.25
Interest rates for this program are based on Credit Score and Loan-to-Value.
Program Features
- Variable Interest Rate based on Prime. *
- Revolving credit line with a 10 year term.
- Minimum payments are billed at interest-only monthly on the funds drawn.
- No up-front costs for lines of $10,000 or greater.
- Annual Fee of $50 waived with auto-payment from
RiverHills deposit account.
- Line secured by Owner-Occupied property.
- Pre-payment penalty of $350 if closed within 3 years of Note Date.**
- Interest paid on this loan may be tax deductible; check with your tax professional.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
* Interest Rate is based on Credit Score and Loan-to-Value. Interest Rate is Variable based
on Prime plus or minus a margin. This margin is based on credit score and loan-to-value.
The Interest Rate may change monthly. Homeowners insurance required. Flood insurance
required, if applicable.
** If no appraisal is necessary at origination, the pre-payment penalty will be reduced to $200.
Home Equity Fixed Rate Installment
Do you have a project at home and need to borrow some money for it? Or, do you want to make a purchase or need money for any good reason and want to use the equity in your home as collateral? Well it sounds like what you need is our Home Equity Fixed Rate Installment Loan.
This loan product offers a fixed interest rate and fixed principal and interest payments for five years. We offer two types of payment structures for this program:
- Sixty equal payments of principal and interest; or,
- Fifty-nine payments based on a ten year amortization with a balloon payment
at maturity. This option offers a reduced monthly payment.
Your Loan Officer will help determine which product is best for you. So, focus on the project, not the loan and let us do that for you!
Program Features
- Fixed Interest Rate.
- Loan term up to 60 months.
- Low cost of $50
origination plus actual expenses.
- Loan secured by Owner-Occupied property.
- Interest paid on this loan may be tax deductible; check with your tax professional.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
Vehicle Financing
If you’re
looking for a new
or used vehicle RiverHills has a loan
for you!
Whether it’s a car, truck, boat or
RV, we have the loan you need.
We at RiverHills try hard to make the
process easy!
So, let us add to the joy of your
purchase by providing financing that is
quick, easy and with rates and terms that
may surprise you.
Give us a call or stop in at one of
our offices.
- Automobiles
-
Boats
- Recreational
Vehicles
Program Features
- Competitive
FIXED Rates
- Flexible Terms
-
100% Financing Available
- Low
origination fee
-
Interest Rate
discount of 0.25% when your payment is
deducted from any RiverHills checking
account.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
Other Personal Financing Are you looking for money
for any good reason? Furniture? Vacation?
Bills? School? Just need some extra cash?
Then look no further than RiverHills Bank.
We are experts in providing financing needed
for those “good reasons.” We’ve been loaning
money for over 100 years, so don’t be shy,
give us a call and we will work hard to find
a good reason to loan you money for your
good reasons.
Deposit Account Loans
Your personal savings
account or certificate of deposit with
Riverhills may be used as collateral for
your personal financing needs.
- Automobiles
- Fixed & Adjustable Rates
Available
- Flexible Terms
- Low Origination Fee
Overdraft Protection
Overdraft Protection is a
personal line of credit tied to your
RiverHills checking account. The purpose of
this loan is to protect you from overdrafts
on your checking account.
- Fixed Interest Rate
- Manageable Monthly
Payments
- Low Annual Fee
Personal Unsecured
Loans
Yes, RiverHills offers
unsecured loans for qualifying borrowers.
- Fixed Interest Rate
- Fixed Monthly Payment
- Flexible Terms
- Interest Rate discount
of 0.25% when your payment is deducted
from any RiverHills checking account.
Call one of our Loan Officers today
Janice Gilpin
513-201-2195
Denny Peter
513-515-7013
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