Loans: consumer | mortgage | commercial and agriculture
The Loan Department is able to provide financing to meet all of your borrowing needs. We offer loan products that include the following:
- Unsecured (Signature) Loans
- Automobile Financing
- Recreational Vehicles
- Savings/CD Loans
- Lines of Credit - Personal (Ramsey Line)
- Home Purchase
- Refinance Home Loans
- Home Equity Loans
- Home Equity Line of Credit
- New Construction Loans
Commercial and Agriculture Loans
- Real Estate
- Lines of Credit
- Equipment Purchases
- Farm Loans
- Investment Property
- Letters of Credit
- Accounts Receivable Financing
Our experienced lending staff is eager to assist you in achieving your financial goals. For more information, call our loan departments at:
| Cando | Fargo |
| Phone: (701)
968-3322 Fax: (701) 968-3565 |
Phone: (701)
280-2292 or 888-301-2292 Fax: (701) 280-1302 |
| Cavalier | Maddock |
| Phone: (701)
265-8473 Fax: (701) 265-4261 |
Phone: (701)
438-2828 Fax: (701) 438-2717 |
| Devils Lake | Rugby |
| Phone: (701)
662-7545 or 1-800-726-0124 Fax: (701) 662-4035 |
Phone: (701)
776-5766 Fax: (701) 776-5606 |
We offer all types of consumer loans to meet your borrowing needs. Obtain a reduction in the interest rate when you choose the automatic payment option from your deposit account with the bank.
Unsecured (Signature) Loans - This type of loan is made to qualified individuals for many purposes. No collateral is needed and repayment may be for a period of up to 24 months.
Automobile Loans - Finance the purchase of a new or used vehicle and borrow from 75% to 90% of the purchase price. We offer attractive interest rates and flexible repayment terms.
Recreational Vehicles - Purchase a snowmobile, camper, motorcycle, ATV or boat with flexible terms and interest rates.
Savings/CD Loans - Use your savings account or certificate of deposit as collateral for a loan and borrow up to 100% of the value of the deposit instrument. Repayment schedules on this type of loan are very flexible. Interest rates are determined by the rate you earn on your deposit instrument. No application or credit history is required.
Overdraft Protection - You can avoid overdrafts on your checking account with an Overdraft Protection line of credit. Funds are automatically transferred to your account to cover checks when there are insufficient funds in that account. Lines are available from $100 to $7,000 to qualified individuals. There is no annual fee for this line of credit and interest is paid only on the outstanding balance on the line of credit. Advancements are made in increments of $100.00 with a $2.00 fee assessed per advance. For example, a $5.00 overdraft would result in a $100.00 advance plus a $2.00 fee.
Ramsey Line - Have an easy access, unsecured line of credit at your disposal. The line of credit is a three year commitment available for $5,000 to $50,000 to be used at your discretion. To access the line-- write a check. Repayment is based on the outstanding balance. The Ramsey Line features an attractive interest rate and no annual fee.
In-house Loans and Secondary Market Mortgage loans are available.
In-house Loans (Balloon Loans) - Loans where the interest is fixed for a specified period of time, currently five years. The loan can be repaid based on a 30 year amortization and you must requalify for refinancing after the five year period. The financing will be based on a current market rate. Closing costs for this loan type are typically less than other mortgage loan types.
Fixed Rate Mortgages (Secondary Market Loans) - These loans offer an interest rate that is fixed for the life of the loan. The monthly payment for principal and interest stays the same for the life of the loan. The only adjustment in the payment amount would be to cover escrow requirements for property taxes and insurance premiums. Repayment on this loan can be for a term of 15 to 30 years.
Home Purchase Loans - The minimum down payment for a home purchase loan will vary by loan type. The normal down payment required is 20% of the purchase price of the property. You may be able to purchase a home for as little as 5% down but may be required to purchase private mortgage insurance. A home purchase loan can be repaid up to a 30 year period.
Refinance Loans - Refinance your existing mortgage loan at a lower interest rate. The maximum loan amount available is determined by the appraisal of the property and limited to 80% of the value. The maximum term for repayment can be up to 30 years.
Home Equity Loans - Use the equity in your home to make home improvements, purchase a vehicle, pay college tuition or almost any other purchase. You can borrow up to 90% of the equity in your home with a second mortgage and take up to 15 years to repay.
Home Equity Line of Credit - We offer fixed and variable rate lines of credit up to 90% of the equity in your home. Monthly payments are based on the balance. To draw on the line--you may write a check.
New Home Construction Loans - We can help you build your dream home. We offer a line of credit which is accessed when you need it during the construction of your home. Borrow up to 80% of the total cost of your home construction project and pay interest only on the money only as you need it.
Real Estate Loans - Finance the purchase of a commercial or ag property to use for any business purpose with a mortgage loan providing flexible terms.
Lines of Credit - Fund working capital needs with a line of credit. We have lines to meet all of your short term cash needs.
Equipment Purchases - Fixed or variable rate interest loans are available to purchase equipment for your expanding business.
Farm Loans - We offer crop production and operating lines of credit, equipment and land purchase loans and loans for any farm related need.
Investment Property - Purchase or refinance the acquisition of an investment property by using our very competitive interest rates and terms.
Letters of Credit - Complete a transaction or meet a supplier's requirement with a letter of credit - contact one of our commercial lenders for the details.
Accounts Receivable Financing - Turn your accounts receivable into instant cash to facilitate growth or provide for capital purchases. We can assist with a package to fund your accounts receivable as you need the money.
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