National City Mortgage
National City Corporation based in 1955 in Cleveland, Ohio, is one of the ten largest banks in America in terms of deposits. The company operates through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management.
National City has been on an acquisition spree of late, including its $2.1 billion purchase of Cincinnati-based Provident Financial Group in 2004. In addition, in 2005, National City acquired Allegiant Bancorp to secure a presence in the St. Louis, MO market. In 2006 they acquired Fidelity Bankshares Inc. for an estimated $1 billion dollar deal that is half cash, half stock. Also acquiring Harbor Florida Bancshares Inc. through a $1.1 billion stock deal, both banks are located in Florida. Combined it gives National City 7.4 billion of assets in Florida. It also gives National City 92 branches in a market that is growing quicker than the midwest. On the other side of the ledger, National City sold to Bank of America its 83% stake in National Processing, which earns fees from processing merchant credit card transactions.
Today National City offers much more types of mortgage loans than in the past as the corporation continually strives to provide their customers with loan programs that meet their needs. There’s a wide variety of programs available whether you’re buying a home or refinancing your present one:
Fixed Rate Programs for stability - your interest rate or principal and interest payment will stay the same over the life of your loan.
Adjustable Rate Mortgages (ARM) for flexibility - ARMs offer a lower interest rate to start, so your monthly payments are generally lower.
Affordable Home Programs for modest budgets increase home ownership possibilities by reducing the necessary down payment and costs.
Jumbo Mortgages for luxury homes allow you to borrow more money for the home of your dreams.
FHA and VA Mortgages for government loans usually offer lower interest rates and down payments to those who qualify.
There are also other mortgage program varieties for home buyers with particular requirements or specific circumstances.
To find more information on a mortgage program, to apply online or calculate your mortgage you can visit National City Co. web-site: www.nationalcitymortgage.com
September 24th, 2007 at 8:00 pm
[…] author wrote an interesting post today onHere’s a quick excerptNational City Corporation based in 1955 in Cleveland, Ohio, is one of the ten largest banks in America in terms of deposits. The company operates through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management. National City has been on an acquisition spree of late, including its $2.1 billion purchase of Cincinnati-based Provident Financial Group in 2004. In addition, in 2005, National City acquired Allegiant Bancorp to secure a presence in the St. Louis, MO market. In 2006 they acquired Fidelity Bankshares Inc. for an estimated $1 billion dollar deal that is half cash, half stock. Also acquiring Harbor Florida Bancshares Inc. through a $1.1 billion stock deal, both banks are located in Florida. Combined it gives National City 7.4 billion […] […]
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