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Home Mortgages

Get a competitively low mortgage rate and flexible terms to open the door to your new home. The Clay City Banking Company understands the importance of your purchase — which is why we provide dedicated, personal attention throughout the home-buying process.

Don't go across the country to finance a home right here in Southeast Illinois — where we make all our loan decisions locally!

  • Several convenient mortgage options
  • Fixed rate mortgage
  • Balloon mortgage
  • Guaranteed rural development (RD) mortgage
  • Competitively low interest rates
  • Flexible terms
  • Local Southeast Illinois decision-making
  • Dedicated, personal attention
  • See if we can help you refinance and save!

Start Your Path to Homeownership!

  • Step 1: Pre-qualify to determine the mortgage amount you can afford
  • Step 2: Determine the appropriate type of loan for your needs
  • Step 3: Compare the current interest rates and fees
  • Step 4: Visit any location to obtain a mortgage loan application
RD Mortgages

A rural development (RD) mortgage is federally insured by the USDA. There's no down payment, and loans may be made up to the property's appraised value. These mortgages offer a fixed rate of interest on purchases only. Income limits may apply, based on the size of household. Consider a rural development mortgage if you:

  • Have a smaller or no down payment
  • Have a limited income
  • Want a fixed principal and interest payment
  • Have a limited credit history

Plus, a Rural Development Mortgage Offers:

  • Increased debt ratio limits
  • Escrowing of taxes and insurance
  • No down payment loan without private mortgage insurance

Visit the USDA Rural Development website at for additional information.


If you have equity in your home, now may be the time to refinance. Refinancing can help you:

  • Lower your monthly payments
  • Pay off your mortgage more quickly
  • Lock in a lower rate
  • Consolidate debt
  • Complete the remodeling or renovation project you've been contemplating
  • Find the funds to upgrade your everyday purchases

The Clay City Banking Company can make this easy. You can get the refinancing process started using three basic steps:

  • Step 1: Determine the rate you are paying on your current mortgage
  • Step 2: Contact one or our loan officers to get customized rate quotes and to determine the closing costs associated with refinancing
  • Step 3: Visit any location to obtain a mortgage loan application