Loan Programs

Are you ready to make your move?

At Heartland Bank, we understand that most homebuyers are not loan experts. We also realize that adding complicated decisions to the homebuying process not only detracts from the excitement, but also adds unwanted stress. We’re here to take your hand, guide you down the correct path, and put you at the front door of your dream home.

With government backed loan options, we have a wide range of possibilities making our job that much easier. Heartland is confident that we can match you with a loan that will not only fit your lifestyle but will fit within your financial goals too. 

To contact a Heartland banker or apply online, click here or visit any one of our local branches.

FHA Loans

Structured to accommodate low to moderate income-based borrowers, FHA loans are backed by the Federal Housing Administration. These loans offer the convenience of lower down payments and greater flexibility with credit score ranges.

  • Low down payment required – only 3.5%
  • Both fixed rate and adjustable rate mortgages are available
  • Government-insured and backed by the FHA
  • Entire down payment can be gift or grant money
  • Lower credit scores are acceptable
  • No income limits on borrowers
  • More generous debt ratios
  • Loan terms are flexible
  • Must be primary residence
  • Can have seller contribution to purchase price
  • Appropriate for first-time homebuyers and anyone requiring a smaller down payment
  • Appropriate for borrowers who need more flexible guidelines
  • Appropriate for borrowers with less than perfect credit ratings

USDA Rural Housing Loans

Loans guaranteed by the U.S. Department of Agriculture for lower-income, rural area buyers who qualify based on eligibility guidelines. Down payments are less than for a conventional loan.

  • 100% financing with no down payment required
  • 30-year loan terms with fixed interest rates
  • Loans are insured up to 90% of original loan amount by Federal Government
  • Upfront guarantee fee may be included in loan amount above appraised value
  • Condos may be eligible
  • No pre-payment penalties
  • Must be primary residence
  • More generous debt ratios
  • Gift funds and grants may be applied to closing costs
  • Home must be located in an eligible area for USDA financing
  • Annual income limits do apply
  • Can be new construction
  • Appropriate for low to moderate income borrowers
  • Appropriate for first-time homebuyers and anyone having no down payment

VA Loans

Backed by the U.S. Department of Veteran’s Affairs, VA loans are designed for military service members, veterans and their spouses. VA loans require no down payment.

  • 100% financing with no down payment required for military veterans
  • Must be a military veteran or in the military to obtain a VA loan
  • No PMI required
  • Lower interest rates and lower monthly payments
  • Lower minimum credit score requirement
  • Condos may be eligible
  • VA funding fee may be included in loan amount
  • No annual income limits
  • Can be new construction
  • Variable loan terms
  • More generous debt ratios
  • Gift funds may be applied to closing costs
  • No annual income limits
  • Appropriate for U.S. military active duty, discharged, and retired veterans