Mortgage Loans

Conventional Fixed-Rate Mortgages

        Benefits of Conventional Loans:

  • Fixed-rate and Fixed Term means a predicable monthly payment
  • Down Payment options as low as 3% for first-time homebuyer1 

Find out which loan might be best for you by using one of our Mortgage Calculators.

Option for those who:

  • plan to stay in the home for more than 5 years.
  • would like protection from rising interest rates for the life of the loan.
  • are first time homebuyers.

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Adjustable(ARM) rate loans

        Benefits of ARM Loans:

  • Pay less over the life of your loan starting at a lower rate than a conventional fixed-rate loan
  • Interest rate and monthly payment remain the same for an initial period of 5, 7, or 10 years, then adjust annually
  • Loans available in terms up to 30 years
  • Includes an interest rate cap, that sets a limit on how high your interest rate can go
  • Allows a co-applicant to help you qualify even if they personally don't live in the home

Option for those who:

  • plan to stay in the home less than the initial adjustment period, whether that is 5, 7, or 10 years.

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FHA (Federal Housing Administration) loans

        Benefits of FHA Loans:

  • Low down payment requirements1
  • Flexible qualification guidelines
  • Fixed rate, fixed term mortgages insured by the government
  • Allows a co-applicant to help you qualify even if the person doesn't live in the home
  • Special programs that provide extra cash for repairs (loans will be based on the projected value after repairs are completed)

Options for those who:

  • have limited funds for a down payment.
  • have "less than perfect" credit.
  • need to complete repairs on a home that is being purchased or currently owned.

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VA (Veteran's Affairs) loans

        Benefits of VA Loans:

  • Little or No down payment
  • Up to 100% financing
  • No mortgage insurance (PMI)
  • Fixed Rate, Fixed Term loans
  • Option to reduce interest rate in future with Interest Rate Reduction Refinance Loan (IRRRL)

Options for those who:

  • are active duty, reservist or a veteran.
  • are an eligible family member of a former service member. 

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USDA/Rural Development Section 502

        Benefits of USDA Loans:

  • "Zero Down" down payment options1
  • Closing costs can be financed with loan
  • Loan guaranteed by U.S. Government
  • Competitive rates with fixed terms
  • No maximum purchase price

Option for those who:

  • are looking to buy or refinance a primary residence located in an eligible rural area.
  • have "less than perfect" credit.
  • have limited funds for a down payment.

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Jumbo Mortgages

        Benefits of Jumbo Loans:

  • Increased funding limits for purchasing or refinancing a home
  • Fixed and adjustable rate options

Option for those who:

  • are looking to buy or refinancing a home where the loan amount exceeds $484,350.
  • have established credit.

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Residential Construction Loans

  • Eligible property types include primary and second homes, single family including both stick-built and modular 
  • 12 month construction term
  • Must meet financial requirements as determined by Horizon Bank and execute construction loan agreement

Option for those who:

  • requires less cash upfront for your down payment and closing costs.

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1For down payments less than 20% on conventional loans, private mortgage insurance (PMI) is required and PMI charges apply. All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.

Affordable Loan Options

We know that each customer has specific needs, so we strive to meet those specific needs with providing information about different loan programs, steps to owning a house, financial tools- including credit repair- and best of all quality service and individual attention.

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