Bank of Dudley

Every member of our team lives and works right here in our communities. From the friendly team member who helps you when you walk in the door to the loan officer who enables you to find the mortgage you need, everyone you work with at Bank of Dudley is a neighbor. And neighbors look out for one another. When you choose a mortgage from Bank of Dudley, you’ll soon see the difference it makes when your bank knows you by name.

Your home purchase is too important to entrust it to a corporate algorithm or a loan officer sitting in a headquarters complex somewhere. Our lending decisions are all made locally by members of our team who have gotten to know you and understand your situation and needs. You’re more than what’s printed on your credit application, and our lending officers factor that into their decision-making.

Few things will require you to have as much interaction with your bank as buying a home. Shouldn’t you be working with people who’ve taken the time to get to know you, who greet you by name, and who are genuinely committed to helping you succeed? At Bank of Dudley, you get the best of both worlds: personalized local service paired with all the banking tools and conveniences of a much larger bank.

Bank of Dudley offers conventional and government-backed, fixed- or adjustable-rate mortgages for homeowners at any stage of life:

Conventional Loans

For customers who meet the credit and down payment requirements, conventional loans may offer the lowest interest and greatest flexibility of any mortgage or construction loan. Conventional loans can be used to finance primary residences, second or vacation homes, and investment or rental properties.

Government-Backed Loans

If you have a lower credit score, cannot afford a sizable down payment, or meet other specific requirements, you may be eligible to receive a government-backed loan for your new home. These loans typically feature slightly higher rates but provide opportunities for home ownership to those who wouldn’t otherwise be able to secure financing:

• Federal Housing Authority (FHA) loans for buyers with lower credit scores or less down payment savings.
• Veteran’s Affairs (VA) loans for eligible service members and veterans make it easier for our nation’s defenders to afford a home.
• US Department of Agriculture (USDA) loans are available for buyers purchasing homes in qualifying rural areas.

Fixed-Rate Mortgages

If you’re planning on staying in your home for a long time and want predictable, consistent payments each month for the life of the loan, a fixed-rate mortgage is the choice for you. With a fixed-rate mortgage, your interest rate is locked in at origination and will never increase or decrease over the life of the loan.

Adjustable-Rate Mortgages (ARMs)

If you’re planning to stay in your home for only a few years or are more risk-tolerant, consider an adjustable-rate mortgage. With an ARM, you’ll pay a reduced fixed rate for the first several years of the loan, and then your loan’s interest rate will increase or decrease based on the current market conditions – so your monthly payment could go up or down, depending on the market.