Real People Real Mortgages

Mortgage Products - where do I start?

There are literally hundreds of mortgage options available. How do you know which one is best for you?

First, start with finding the right lender.
At Mercantile Bank, we'll pair you with the lender that's right for you - someone who sticks by your side from start to finish.

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Next, know your options.
Mercantile offers a variety of mortgage programs aimed at providing you the right mortgage to fit your needs. After getting to know your needs, one of our lenders will help you find the features, rate and type of mortgage that works best for you.


With a Pre-Qualification, one of our experienced Mortgage Lenders will review several mortgage options based on your budget. A Pre-Qualification consultation is free and may help you make the best decisions when looking for a home.

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First Time Home Buyer Programs

There are several mortgage programs available to First Time Home Buyers.

Low Down Payment: Many programs allow low down payments and can range from 0% of the purchase price to 5% of the purchase price, however in some cases, down payment funds may also be gifted to you.

Down Payment Assistance: Mercantile Bank works with several agencies which may be able to assist with a down payment (qualifications required, see Mortgage Loan Officer for details).

Reduced Closing Fees: Depending on the mortgage program and your income, you may qualify for reduced closing fees if you are a first time home buyer.

Reduced or Waived Private Mortgage Insurance: You may qualify for reduced or waived Private Mortgage Insurance, depending on the mortgage program and/or your income. Talk to a Mortgage Lender today to learn more.

Traditional Mortgage Programs

Conventional Mortgage: This is the most commonly used program that follows the requirements set by Freddie Mac, and may require as little as 3% down.

FHA Loans: The Federal Housing Administration offers affordable financing through the FHA Mortgage program and may require as little as 3.5% down (down payment funds can be gifted).

Rural Development (RD) Loan: If you are purchasing in a rural area, you may want to consider an RD Loan, which is a special mortgage program designed to promote rural purchases.

Portfolio Loans: Portfolio Loans are mortgages designed by Mercantile Bank to help promote homeownership in the markets we serve.

Construction Mortgage Programs

Construction Loan: Typically, when you build a home, your builder will as you to obtain a Construction Draw Loan, which will allow your builder access to funds as they build your home. Mercantile Bank offers One-Time Close Construction loans, which means you only have to close one time with us. That means you pay just one closing fee, and have a mortgage program that will convert from a construction loan to a mortgage without any additional fees.

End Loan: Your builder may provide temporary financing for your new home while they build it, and as you to obtain a mortgage when the house is completed. We can help with this!

Renovation Loan: Looking to renovate your current home or purchasing a home that may need some tender-loving care? We can assist with a Renovation Loan.

Lot and Land Mortgage Programs

Lot Loan: If you are purchasing less than 10 acres, you can obtain a Lot Loan. This property does not need to be in a subdivision.

Land Loan: Land Loans are for parcels over 10 acres. These loans require a larger down payment. Connect with one of our Mortgage Lenders for more information.

Pole Barn: Not quite land you're looking for? Found that pole barn to store your toys? We can help finance these as well.

We're Ready When You Are

You won't find a more personal loan experience than the one at Mercantile Bank. Get in touch and we'll get moving.

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All loans subject to credit and collateral approval.