Consumer Loans
  

Century Bank wants to help put you at ease when going through the loan process.  We have an experienced staff that can help you choose the type of loan that best fits your financial needs.  Our experts will be with you before, during and after the loan process to answer any questions.  This is one of the many advantages of banking with a local, community bank - the ability to meet with one person and to have that person available throughout the entire process. 

Please click on any of the below links for further information or call Century Bank at 712-246-2205 or 877-262-7436, and we'll be glad to help.

Home Loans

 

Home Loan Process

     

Home Loan Refinance

 

Home Equity Line of Credit (HELOC)

     

Auto Loans

 

Unsecured Personal Loans

 

  
  
Home Loans
  

You're ready to make your dream home a reality!

You want to refinance your present home loan!

It's time to make improvements!

You want to take equity out of your home!

Now it's time to find the right mortgage lender. Century Bank wants to help put you at ease during this important process. We have an experienced staff that can help you choose the program that best fits your needs and financial budget.

Buying or refinancing a home can be a confusing process, but our experts will be available to answer your questions before, during and after your mortgage closing.  This is one of the many advantages of banking with a local, community bank - the ability to meet with one person and to have that person available throughout the entire process.


****The Nationwide Mortgage Licensing and Registration System is a free service for consumers to confirm that the bank, mortgage company, or mortgage professional with whom they wish to conduct business is licensed in their state.  For more information, please visit www.nmlsconsumeraccess.org.****

Century Bank Employees and their corresponding NMLS #:

Michael Bauer - 500585
Jeffrey Baker - 644575
Dan Weiss - 1216342
Andrea Swank - 500857
Kelly Augustine - 500860
Rachel Johnson - 1216982
Amanda Moore - 657971

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Home Loan Process
  

You found your home.  Now, it's time to find the right mortgage product.  Our lenders will help determine which product is right for you.  Because each situation is unique, Century Bank offers competitive rates and flexible products that will compete with any of our larger bank or mortgage broker competitors.

Loan Process - You complete a simple application and provide a few necessary items and our lenders take it from there.  We work hard to make the loan process stress free.

Closing - Century Bank will stick with you as you finalize the purchase of your home and will be there with you at closing to make sure everything is done right. 

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Application Process
  

You complete a simple application, and provide us the necessary items listed below, and we will take it from there.  We will work with you to determine the right mortgage products for your situation and your goals.  Then we will focus on the loan process and you can focus on your life.

The following is a list of information that will be needed during the application and pre-approval process.  In some cases, there may be additional information needed, but in most cases these items, in conjunction with a completed application, will provide all the information needed to get approval for your home loan.  The needed items are:

  • Employer history/information for the last 24 months
  • Pay stubs covering the last 30 days
  • Two years signed tax forms, including W2 forms
  • One month checking account statement
  • Address of your home, if looking to be pre-approved, the address of your new home after you sign a purchase agreement
  • Copy of the purchase agreement

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Home Loan Refinance
  

Refinancing may give you the opportunity to lower your interest rates, pay off your mortgage sooner, consolidate debt, or use the equity in your home to fund other projects.  Our mortgage lenders will help you determine whether refinancing is right for you.  If you are looking to use the equity in your home, a Home Equity Line of Credit (HELOC) may also be an option for you. 

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Home Equity Line of Credit (HELOC)
  

Century Bank's Home Equity Line of Credit (HELOC) gives you the ability to use the equity in your home to secure a reusable source of cash that you can use for numerous situations.  With this product we can loan, in a combined loan amount (using your first mortgage and the HELOC) of up to 90 percent of the value of your home.  With this product we set up a line of credit that you can borrow against and repay as quickly as you would like.  An added benefit to the HELOC is that interest paid on your HELOC may be tax deductible depending on your situation (please consult your tax advisor). 

TERM - This loan is usually set with a 10 year maturity and requires monthly payments of 1.0 percent of the loan account balance.  A balloon payment may result. 

INTEREST RATE - The interest rate is variable quarterly (minimum of 5 percent with a maximum of 21 percent) and is based on the following chart:

                LOAN TO VALUE*                                                  ANNUAL PERCENTAGE RATE**
 
                    < 50 percent                                                                    0.25 percent

                   50-70 percent                                                                   0.75 percent

                   70-80 percent                                                                   1.00 percent

                  80-90 percent                                                                  2.00 percent

*Total of 1st Mortgage & HELOC, divided by home value
**Above New York Prime Rate

MINIMUM COMMITMENT - A minimum commitment of $5,000 is required, however, no initial advance is required.

COST - Please see one of our loan specialists for a cost estimate.  The fees to open the account are approximately $200-$500.  There is also a $15 annual fee.

Home Equity Lines can be used for:

  • Making home improvements
  • Consolidating debt
  • Purchase of new or used automobiles
  • Purchase of recreational vehicles
  • Vacation expenses
  • College expenses 
  • Medical expenses
  • Business expenses
  • Paying taxes

Apply in person today and visit with one of our experienced loan professionals. 

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Auto Loans
  

If you've found the new or used car, truck, SUV, camper, boat or motorcycle of your dreams, we have the loan product for you.  We offer competitive fixed rate financing with flexible terms that can get you behind the wheel quickly.  We also can help you determine the value of your trade-in or purchase with NADA book value or Kelly Blue Book.  Please give us a call; our well-trained loan staff is waiting to assist you in making your purchase.

Advantages to financing your loan with Century Bank include:

  • Fast, courteous service
  • Competitive low fixed rate loans
  • Flexible terms
  • Option of automatic payment from your checking account
  • Online Banking options for easy online payments
  • Payment protection plans available
  • In some cases, you may be able to use the equity in your home to purchase your vehicle.  By using a Home Equity Loan (HELOC), you can borrow the money for your new vehicle using the equity in your home to obtain a low interest rate, which depending on your situation, may be TAX DEDUCTIBLE (please consult your tax advisor).  The potential tax deduction may make the HELOC + rebate more attractive than many zero percent financing options.   

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Unsecured Personal Loans
  

Century Bank is there for all your credit needs.  Other loans that we can offer include:

  • Investment borrowings
  • Bill consolidation
  • Credit cards
  • Medical expense
  • Vacation
  • Home improvement
  • Certificate of Deposit loans (borrow against your CD at an attractive rate (tied to CD rate)

Century Bank's goal is to be there in your time of need whenever possible.  We also offer personal credit counseling.

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NOTICE: Century Bank
116 S. Blossom Shenandoah, IA 51601
(712) 246-2205

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