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Compare Fixed Mortgage Rates with Competitive Lenders
Refinancing into a mortgage with a fixed interest rate is a great way to prevent inflation because the rates cannot change for 30-years. Our Indiana mortgage lenders will find you an affordable loan while helping credit rebound
According to Zillow, interest rates for 30-year home loans averaged 3.49% this week, down from 3.53% last week. Last year at this time, average rates for 30-year mortgages were about 4.5 percent. Let our Indiana lenders find you the best home loan offers today.
We provide new opportunities for people with past bankruptcies or foreclosures because we are mortgage lenders for bad credit solutions.
Best Indiana Mortgage Rates
Taking out a simple interest equity loan or debt refinancing can help increase your fico scores rapidly
Mortgage Terms to Know for the Loan Process
Annual Percentage Rate (APR)
Home Equity Line of Credit
Is a interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account point and other credit cost. The APR allows home buyers to compare different types of mortgages based on the annual cost for each loan.
A fixed or adjustable rate loan, secured by the equity in your home. Interest is usually tax-deductible to 100% CLTV. Often used for home improvement or freeing of equity for investment in other real estate or investment. Great loan for refinancing to replace or substitute for consumer loans whose interest is not tax-deductible like credit card debt and personal loans.
A loan providing you with the ability to borrow funds at the time and in the amount you choose, up to a maximum credit limit for which you have qualified. Repayment is secured by the equity in your home. Simple interest (interest-only payments on the outstanding balance) is usually tax-deductible. Often used for home improvements, major purchases or expenses, and debt consolidation.
Combined Loan to Value
Fixed Rate Mortgage
Jumbo Home Mortgage
The relationship between the unpaid principal balances of all the mortgages on a property and the property's appraised value.
A mortgage loan with an interest rate that is fixed for the term of the loan. Monthly payments are fixed evenly for a specific term.
A loan which is larger (more than $417,000) than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.
Good Faith Estimate
A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that credit users will pay their bills. Scoring has become widely accepted by lenders as a reliable means of credit evaluation
A written estimate of closing costs which a lender must provide you within three days of submitting an application.
Occurs when your monthly payments are not less than the interest due. This unpaid interest is added to the unpaid balance of the loan. The danger of negative amortization is that the homebuyer ends up owing more than the original amount of the loan.
Nationwide Mortgage Loan Terms:
First Mortgage Product is available with a 2/28 or 3/27 LIBOR ARM, a 15/15 and 30/30 fixed term, and a 30/15-balloon term. The 2/28, 3/27 and 30/30 terms are available with an Interest Only option with some restrictions.
The Second Mortgage Loans are available with a 15,20, 25 and 30-Year fixed term and a 30/15-balloon term..
Pricing is subject to change daily. Please refer to loan officer for updated interest rates by state.
40 Yr Amortization: First Mortgage programs are available with a 2/38 or 3/37 LIBOR ARM and 40/30 Balloon first
Interest only is available on the 2/28, 3/27 and 30/30 first liens only
40-Year Amortization Term
Four options available: 40-Year Fixed,
Maximum LTV 100%, Maximum CLTV 100%
Loan Amounts to $1,500,000
100% LTV Full Doc minimum 580 Credit Score
95% LTV Stated Doc minimum 620 Credit Score
Maximum Debt to Income - 55% up to 90% LTV;
Documentation Types - Full, Limited and Stated Income
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Nothing on this web site contains an offer promise either to make an Indiana mortgage loan or that any participating lender will guarantee any home loan for any purpose or on any specific terms.
Loans cannot be made online or be approved without an underwriter analyzing your credit score, debt to income ratio and combined loan to value.