Home Loan Types

• Monthly principal and interest (P&I) payments stay the same over the life of the loan, so you can budget accordingly.
• Protection from rising interest rates for the life of the loan, no matter how high interest rates go.

• Lower initial interest rate and monthly P&I payments than on a fixed-rate mortgage with a comparable term.
• Rates and monthly payments can change after the initial fixed-rate period.

For customers who need financing for higher loan amounts:

• Provides financing above conforming Fannie Mae and Freddie Mac loan limits
• Interest rate discounts and other potential benefits available through our Private Mortgage Banking group

For qualified homebuyers with limited cash for a down payment:

• Down payment as low as 3% on a conventional conforming fixed-rate mortgage.
• Allows the use of gift funds and down payment assistance programs.
• With a low-down payment loan, mortgage insurance will be required, which increases the cost of the loan and will increase your monthly payment. We’ll explain the options available, so you can choose what works for you.
• Talk with a home mortgage consultant about loan amount, type of loan, property type, income, first-time homebuyer, and homebuyer education requirements to ensure eligibility.

For eligible customers, options like FHA, VA, and the Guaranteed Rural Housing programs may:

• Offer low down payment programs
• Allow the use of gift funds and down payment assistance programs
• Provide options for customers with credit challenges
• Require mortgage insurance

For those buying a newly constructed home:

• Builder Best^® Extended Rate Lock program
• Dedicated team that specializes in financing for newly constructed homes

For homeowners who want to access available equity in their home:

• Replaces your existing mortgage with a new loan that’s larger than the original loan’s balance.
• When you close your new loan, you’ll have access to the additional money you borrowed to pay for major expenses.

Home equity line of credit (HELOC)
NOTE: Due to the current environment, some loans including home equity lines of credit may be temporarily unavailable.

For homeowners who want ongoing access to available equity in their home:

• Since a HELOC is secured by the equity in your home, your interest rate may be lower than many unsecured forms of credit.
• During the draw period, you can borrow money as you need it — up to your available credit limit.
• Relationship discounts may be available for qualifying customers.