Mortgage Loans

Mortgage Loans


Buying a home is a major life event, but it doesn’t have to be stressful. First Exchange Bank makes the process simple and provides friendly service from beginning to end. As a longtime community bank, we understand that each of our customers are different. Our knowledgeable mortgage loan officers can help you choose from a variety of mortgage options to fit your specific needs. Our local in-house lending means lower closing costs than most banks and finance up to 89.99%.  

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Home Loans in North Central West Virginia

First Exchange Bank offers many different types of home loans. Whether you’re buying your first home, a second home, or want to build a new house, we have a mortgage loan that is right for you.

  • Conventional Loans – Primary and Second Homes
  • Vacant Land Loans
    • Terms dependent on type of land (improved with utilities or unimproved without utilities)
  • Manufactured Home Loans
    • Doublewides
    • Permanent and Tier Foundation Options available

Questions About Mortgage Loans? Contact A Mortgage Lender - image of a man in a suit on a phone

Fixed-rate Mortgages

Lock in your rate with a hassle-free fixed-rate mortgage from First Exchange Bank. With a fixed-rate mortgage, your interest rate will stay the same throughout the life of the loan.

Variable-rate Mortgages

Finance the way you want with an adjustable-rate mortgage from First Exchange Bank. With a variable-rate mortgage, your mortgage rate if fixed during the initial period.  After the fixed-term ends, your monthly rate can vary based on the current mortgage rate. 

Read more about choosing between a fixed and variable rate mortgage.

Choose Your Mortgage: Fixed - Variable | Choose Your Term: Various terms available. Contact us for details.| First Exchange Bank Difference - Financing up to 89.88% - Lower Closing Costs than most banks - all decisions made locally

Go To Great Heights With A Mortgage Loan From First Exchange Bank!

Contact your local First Exchange Bank office and let us help find the loan that’s right for you. We possess local expertise in the real estate markets of Morgantown, Mannington, White Hall, Hundred, Fairmont, Fairview, and beyond. (Subject to credit approval) 

Apply Online For A First Exchange Mortgage Loan Today!

Mortgage Application



Home Equity Lines of Credit (HELOC)

First Exchange Bank is pleased to offer Home Equity Lines of Credit (HELOC), which allow you to borrow against the equity in your home. If you need help paying for a large expense or renovating your home, put the equity you’ve already earned to work for you! HELOCs are a great way to help pay for your child's college education, a home improvement you've been thinking about, or for the vacation you've been dreaming of. Plus, the interest you pay on a HELOC may be tax-deductible! * No matter what you need the money for, First Exchange Bank makes getting it easy. Our loan officers can help you through each step of the process.

*Consult a tax advisor regarding the deductibility of interest. Subject to credit approval. Please contact your local First Exchange Bank for current interest rates. First Exchange Bank is an Equal Housing Lender.

Open a HELOC with no obligation to use it.

A HELOC is a revolving credit line with a certain draw period followed by a repayment period on any remaining balance. Some people like to open a HELOC account with no immediate plans to use it. If an emergency arises, you can borrow from your HELOC at a lower interest rate than most other types of consumer debt, such as a credit card.

Compare a home equity line of credit vs. a personal line of credit. 

Home Equity Line of Credit*
After 24 Months your rate will revert to a standard variable rate of prime plus 1.00%**
Rate 6.25% 24 month initial introductory rate  6.25%
APR (Annual Percentage Rate) 6.25%  6.25%

Apply Online for a First Exchange HELOC Today!

HELOC Application

*After 24 months at the initial introductory rate of 6.25%, your APR will revert to a standard variable rate of Wall Street Journal Prime plus 1.00% rounded to the nearest .125% for remaining life of the line. The maximum rate that can be charged is 18.00%. You can obtain credit advances for 120 months (the “draw period). During this period, payments will be due monthly. Your minimum monthly payment will equal the greater of the following: $100.00: or the amount of accrued finance charges plus 1.000 percent of the principal balance outstanding on the last day of the billing cycle. After the draw period ends, you will no longer be able to obtain credit advances and must pay the outstanding balance on your line of credit (the “repayment period.”) The length of the repayment period is 180 months. During the repayment period, payments will be due monthly. Your minimum monthly payment will equal the following:  An amortized payment of the loan account balance on the last day of the draw period. The balance will be amortized over 180 months. The minimum payment will change whenever the interest rate  changes. Annual maintenance fee is $100.00. Homeowner's insurance is required for the home being pledged as collateral. 

** Rates current of 09/25/23