Will I receive a copy of the appraisal?

Yes, as an applicant, you are given copies of all completed appraisals on the property of interest.

How fast will I get my funds for a mortgage, refinance or home equity line of credit?

For a mortgage, the funds are available when you close your loan. For a refinance or home equity line of credit, funds are available on the fourth business day after signing the loan documents. There is a three day waiting period when you have the right to revoke your application.

How do I cover my closing costs?

You are responsible for the closing costs at the closing of your loan. Often, the seller is asked to cover a portion and you will need to cover the balance (or the full amount depending on the offer made by the seller). You can speak with your Loan Officer regarding these costs as there are times when they can be absorbed into the total loan amount.

What are my monthly mortgage payments based on?

  • Principal and Interest
  • Mortgage Insurance (if required, often called PMI)
  • Real Estate Taxes and Insurance

How can I lock-in my interest rate?

If this is your first mortgage, Heartland Bank can lock-in your interest rate once your loan is approved. Speak with your loan officer for specific details.