Fixed-Rate Loans

• Piedmont Federal offers three terms for fixed-rate mortgages: 30 years, 20 years and 15 years. All are available for up to 95% of your home's appraised value.
• Our 30-year fixed-rate mortgage is one of our most popular, because it will have the lowest monthly payment for the amount borrowed of any fixed-rate home loan we offer.
• Our 20-year and 15-year fixed-rate mortgages allow you to pay off your loan in a shorter amount of time. Plus, by paying just a little more each month over a shorter period of time, you realize substantial savings in interest payments. They also have slightly lower rates than the 30-year loans.
• Find out which is right for you.

Five-Year Adjustable-Rate Home Loan

• This loan offers you unprecedented flexibility and affordability in a mortgage. For the first five years, you’ll enjoy a fixed rate. After that, the loan adjusts annually, but never more than 2% up or down. Over the lifetime of the loan, the rate can never change more than 5%. This loan is especially suited for someone who is not planning to be in their home for more than 5 years.

No Shock Adjustable-Rate Mortgage

• We call this our No Shock mortgage because the initial rate is guaranteed for one year and each year after the rate can be adjusted up or down a maximum of 1% annually. These caps are more favorable than those offered by most other lenders.
• It has a lifetime interest-rate cap of 4% on increases or decreases.
• This loan is offered with either a 15-year or 30-year term and may be issued at up to 95% of the appraised value or sales price of the home, whichever is less.

Step Rate Loans

• Perfect for those planning to live in their home for only a few years. It allows you a low monthly payment for five years, with an adjustment after that period.
• The Piedmont Federal StepRate mortgage is offered at 1/2% below the 30-year mortgage rate.
• This rate is fixed for five years. At that time, the rate increases 1 1/2% for the remainder of the term.
• Calculator

First-time Homebuyers Program

• Piedmont Federal strives to make home-ownership as easy and affordable as possible for qualified, credit-approved first-time homebuyers
• No loan origination fee, appraisal fee, credit report fee, or flood certification fee.
• No PMI insurance on loans with loan-to-value of 90% or less (PMI required on loan-to-value over 90%; maximum loan-to-value is 97%).
• The loan must be for a primary residence and may be used for a single-family detached home, condominium or townhome (manufactured homes and mobile homes are not eligible).
• Available for homes in Forsyth, Davidson, Davie, Stokes, Yadkin, Alleghany, Ashe, Avery, Surry, Watauga and Wilkes counties.
• The maximum loan amount is $200,000 and will have a 30-year fixed interest rate.
• The down payment may come from gift.
• Learn more

Piedmont Affordable Loan (PAL)

• For first-time homebuyers with a total family income of $44,800 or less, looking to purchase a home in Forsyth, Davie, Davidson, Stokes and Yadkin counties, the PAL can help assist you in getting into that first home by reducing the down-payment amount and eliminating the origination fee, appraisal fee, credit report fee, and flood certification fee.
• Learn more

The Piedmont Prime Equity Line

• The Piedmont Prime Equity Line provides you with extra money whenever you decide you need it. Need money for a new car? Want to make this year’s vacation the talk of the family? Need a little extra cash to help with college tuition or expenses? Or just want to consolidate debt? If so, then the Piedmont Prime Equity Line could be right for you.
• The loan rate is variable and is the prime rate as published in The Wall Street Journal.
• Learn more

Nine-Month Commitment Program

• Get peace of mind before you start construction, with loan approval and a rate locked in before you start.
• A 1% commitment fee (which replaces the origination fee usually paid at closing) locks the rate in for 9 months.
• The interest rate is set at .25% higher than the current rate for the term chosen.
• The commitment is available for 30-, 20- or 15-year home loans.