Buy a Home
Let's do this - we're ready when you are!
As a homebuyer, you may spend hours looking for the perfect home, and then hours deciding on the perfect mortgage. Heartland Bank can cut those hours down for you by matching your wants with your financial needs. Our mortgage lenders are committed to our clients - with a smooth, quick loan process!
To contact a Heartland banker or apply online, click here or visit any one of our local branches.
Fixed Rate Mortgage
Are you afraid of change and like to plan for the future? With a fixed rate mortgage, the monthly principal and interest payments remain the same for the term of the loan. Heartland Bank can provide convenient payment terms to accommodate your financial goals. Fixed rates are best for buyers who plan to make their house purchase a long-term investment – a house that will be your forever home!
- Monthly payments are fixed over the life of the loan
- Interest rates do not change
- Loan terms from 10 years – 30 years
- Protected if rates go up
- Can refinance if rates go down
- Appropriate for borrowers who plan to occupy the home at least 7 years
- Appropriate for borrowers on a fixed income
- Appropriate for borrowers who want the safety and security of having a steady, predictable payment each month
Adjustable Rate Mortgage (ARM)
Are you interested in a starter home and want to keep the payment as low as possible up front? With an Adjustable Rate Mortgage (ARM), the monthly principal and interest payments change based on a schedule and an external financial index.
Benefits of an ARM:
- Lower rates
- Interest caps
- Conversion options
- Consider for trading up or relocation
- Rates and payments may go down if rates improve
- Payments can change over time
- Appropriate for borrowers who plan to occupy the home for 10 years or less
- Interest-only payments until your existing home sells (usually 12 months)
- Use the equity in your current home as the down payment for your new home
- Competitive interest rates and terms
- Appropriate for customers who want to purchase a new home, but haven’t yet sold their existing home
- Fixed rates and ARMS available for loans over $647,200
- May also be structured as a conforming 1st mortgage at $647,200 and 2nd mortgage for additional funds needed
- Appropriate for borrower who is purchasing a more expensive home