Mortgage Loans

Mortgage Loans

Buying a home is one of the largest, most important investments you will ever make. Let us explain your options and help you find the mortgage that’s best for you.

At Salin Bank and Trust Company, we know that buying a home can be a complicated, sometimes overwhelming, undertaking. That’s why we put you at ease right from the start with personalized, expert advice from our home loan specialists. They will thoroughly explain your options and help you find the Salin Bank home loan program that’s right for you. Salin Bank offers:
  • Competitive rates
  • Reasonable fees
  • In-house underwriting
  • Local appraisers who know your market
  • Closing of purchase transactions in 30 days or less

Fixed-Rate Mortgage

The interest rate and payments on a  fixed-rate mortgage remain the same for the life of your loan. Salin Bank’s  fixed- rate mortgages are available with low down payment options and a variety of terms.

Adjustable Rate Mortgage (ARM)

An adjustable-rate mortgage has an interest rate that remains in effect for a specified period of time before adjusting annually. These mortgages typically offer lower initial rates and payments than fixed rate mortgages. Adjustable-rate mortgages provide rate adjustment caps and come in a variety of terms.

Construction/Perm Loans

This program offers the convenience of a one-time closing while providing funds for both the construction and permanent  financing of a new home. Depending on needs and qualifications, 95%  financing is available. Construction/Perm loans offer either attractive fixed rate or adjustable rate mortgages.

Home Buyer Plus Mortgage

This in-house program provides an ideal option for first- time home buyers. The program includes just 3.5% down, and no monthly mortgage insurance is required. (Income is limited to 80% of the area’s median income per county.)

Piggy Back Second Mortgages

Avoid paying costly mortgage insurance by splitting your loan in two. See a Salin home loan specialist for details.

Swing/Bridge Loans

A swing loan lets you span the gap between the sale of an old home and the purchase of a new one. By consolidating the mortgage debt on your current home and giving you access to the equity in that property, you can make a down payment on your new home. Your payments on your old home will be dramatically reduced interest-only payments, freeing up cash  flow to make your new home a reality.

FHA/VA/USDA Mortgages

Many government loans offer low down payment requirements as well as  flexible underwriting standards.

Down Payment Assistance

For those who qualify, down payment assistance is available through a special loan program offered through the Federal Home Loan Bank of Indianapolis. Income restrictions apply, and a home buyer education program must be completed.

Apply at any banking center or online at salin.mortgagewebcenter.com.