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If you're considering buying a home and want more information before applying, contact one of our friendly lending experts or check out our home-buying resources below.
If you're ready to prequalify for a mortgage loan or apply for a home loan, start by comparing the loan options below and then apply for the financing solution that fits you! Your mortgage lender will be by your side throughout the application process. Then come back anytime to check your loan status.
Home Mortgage Loan Options
In addition to these loan options, we also offer Bridge Loans for those caught between selling their existing home and buying a new one; and Home Construction Loans for those who want to work with a contractor to build their new home.
Conventional Fixed-Rate Loan1
- Up to 97% financing
- Borrower to pay private mortgage insurance (PMI) if making less than a 20% down payment; can cancel PMI once you’ve gained 20 percent equity in your home
- Fixed-rate loan
- Choose loan term of 10, 15, 20 or 30 years
- No application fees
- No prepayment penalty
- If you already have a mortgage and want to refinance for a different interest rate or different loan term, this loan may also be a good fit.
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Balloon Payment Loan2
- Up to 80% financing
- A balloon payment loan is a mortgage that does not fully amortize over the term of the note, thus leaving a balance due at maturity. The final payment is called a balloon payment because of its larger size.
- 15-year fixed rate
- 30-year amortization (The longer amortization benefits the borrower with a lower initial rate and payments are spread over a longer term.)
- Balloon payment due at loan maturity
- Qualified borrowers can refinance their loan when it matures at the current rate
available
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FHA Loan
- Up to 96.5% financing
- Loan guaranteed by the Federal Housing Administration (FHA)
- Upfront mortgage insurance premium required
- Monthly mortgage insurance premiums, along with monthly loan payment
- Property condition requirements
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VA Home Loan
- No down payment required
- Loan guaranteed by the US Department of Veterans Affairs (VA)
- For active-duty service members, former member of the armed forces, or spouses of service members who died in the line of duty or as the result of a service-related disability with certificate of eligibility
- No Private Mortgage Insurance (PMI) required
- The VA home loan is a lifetime benefit. You can use the guaranty multiple times.
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USDA Rural Development Loan
- Up to 100% financing
- Guaranteed housing loan program by the U.S. Department of Agriculture
- For low-income and very low-income individuals and families
- Loan limits and income eligibility are dependent upon the county where the homebuyer intends to live
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Homebuyers' Resources
Homebuyer's Guide
Step-by-step, everything you need to know and do before buying a house.
Free Download
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Mortgage Loan Process
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Additional Resources
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You've Got Questions, We've Got Answers
Buying a home is one of the biggest financial decisions of your life. We want you to feel comfortable asking any questions that comes to mind throughout the loan process. Let's start with Homebuyers' Top 5 Questions.
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How much money will I have to come up with to buy a home?
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Well, that depends on a number of factors, including the cost of the house and type of mortgage you get. In general, you need to come up with enough money to cover three costs:
- earnest money: the deposit you make on the home when you submit your offer, to prove to the seller that you are serious about wanting to buy the house. When you make an offer on a home, your real estate broker will put your earnest money into an escrow account. If the offer is accepted, your earnest money will be applied to the down payment or closing costs. If your offer is not accepted, your money will be returned to you. The amount of your earnest money varies.
- down payment: a percentage of the cost of the home that you must pay when you go to settlement; the more money you can put into your down payment, the lower your mortgage payments will be.
- closing costs: these costs cover various fees your lender charges and other processing expenses. When you apply for your loan, your lender will give you an estimate of the closing costs, so you won't be caught by surprise.
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How much money do I need for a down payment?
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Making a down payment of 20% is ideal because you can avoid paying private mortgage insurance (PMI), but realistically, you may be able to obtain a loan with a lower down payment. For instance, if you are a veteran, you are eligible for a VA loan, which requires no money down.
Your mortgage loan officer will walk you through all of your options.
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Should I talk with the bank before looking at homes?
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The answer is Yes! There are tons of reasons why you should talk with the bank and get prequalified before looking at homes. First and foremost, talking with the bank before looking at homes can help you understand exactly how much you can afford. You'll only get frustrated looking at home that list for $300,000, when you can only afford up to $200,000.
Another important reason to talk with the bank before looking at homes is so you understand exactly what costs are associated with buying a home. One of our mortgage professionals can give you advice on the types of financing available, and other costs you need to consider in order to close on a home loan.
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What is the best way to improve my chances of being approved for a loan with better terms?
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Increasing your credit score is one of the best ways to improve your chances of being approved for a loan with better terms. Aspiring homeowners should monitor their credit reports regularly and consider a few tips to boost their scores.
- Pay your bills on time. What lenders care about most is the likelihood that you’ll pay back your debts. Consistently making payments on time shows you are reliable and should increase your credit health. Late or missed payments can significantly harm your credit score, so if your issue is keeping track of bills, consider setting up automatic payments or payment reminders.
- Pay down your debt. Your credit utilization ratio compares the amount of debt you owe to the amount of credit you have. Lenders want to ensure you’re not borrowing more than you can pay back. Work to keep your credit utilization below 30 percent by paying off your credit card balances in full each month or making consistent payments throughout the month. Card companies will gladly accept payment anytime.
- Don’t open multiple credit cards at once. Every time you apply for a credit card or loan, it generates a hard inquiry on your credit report, which usually stays there for about two years. Too many hard inquiries in a short period of time may turn lenders off because they may think you’re looking for cash or on the cusp of racking up a lot of debt.
- Don’t close old credit cards. It can be tempting to get rid of old cards you don’t use, but the length of your credit history is a significant factor in most credit scores, and you risk shortening that length by closing your oldest credit cards. Unless the annual fees outweigh the benefits, consider putting a couple charges a month on that card to keep your credit history longer.