Like people, mortgages come in many shapes and sizes . . . and there’s probably one that’s right for you.  Your INB loan officer can help you decide which program will work best for your unique circumstances.

Conventional Fixed-Rate Programs

If you plan to stay in your home for a long time and want the security of knowing your interest rate and principal and interest payment will not change, an INB fixed-rate mortgage is right for you. At INB, we give you a choice of terms. We can fix your rate and principal and interest payment based on the loan term you choose. 

Adjustable Rate Mortgages

Unlike traditional mortgages that have one interest rate over the life of the loan, ARMs have two periods: a fixed period and an adjustable period. You'll find all the details here.

Assistance Programs Including First-time Homebuyer Programs

First-time homebuyers can take advantage of two programs. Your lender can provide details and help determine if you’re eligible:

• Downpayment Plus® Program -- If you have a steady income and good credit, you may qualify for the Downpayment Plus® Program. You could receive up to $10,000 to use toward down payment and closing costs. *Downpayment Plus® is a program from the Federal Home Loan Bank of Chicago. Restrictions apply. Please see the FHLB website for complete requirements.
• IDHAccess Forgiveable -- Up to $6,000 in Down Payment Assistance forgiven monthly over 10 years. All program funding and availability is subject to change at any time, and is not guaranteed until the lender places a complete reservation with IHDA Mortgage. You'll find complete details on the IDHA website. 
• HomeReady Mortgage – If you have a modest savings, this could be a great option. With a down payment as low as 3%* and cancellable mortgage insurance, ** this program can make homeownership affordable. *97% LTV can use any fixed-rate term. **Restrictions apply. For all the details, visit the Fannie Mae website.

Government VA and FHA Loan Programs

INB proudly offers Veterans Administration (VA) and Federal Housing Administration (FHA) loan programs to assist veterans with 100% financing on their home purchase with no need for mortgage insurance, which can mean substantial savings. We also offer FHA programs which have a low down payment and are a little more forgiving to past credit issues than a conventional loan. You don’t need to be a first-time homebuyer to use these government loan programs.

USDA Rural Development Loan

For people with moderate incomes, the U.S. Department of Agriculture (USDA) home loan can be a perfect way to buy a house.  You won’t need a down payment and mortgage insurance rates can be substantially less than you’d pay on a traditional mortgage loan. There’s also no limit to the loan size as long as you meet credit and income requirements. The program’s flexible approval rules make this a great option for many eligible homebuyers. For all the details visit the USDA’s website.

Jumbo Loan Programs

The maximum amount for a conventional loan in the Central Illinois area is $726,200 for a single-family home. INB offers financing options if you’re looking at a home that requires financing over that amount.  Our split-financing option allows you to take out a second mortgage for the funds above the conventional limit to avoid monthly mortgage insurance.

Construction and Lot Loans

Looking to build that dream home? INB makes the construction process easy with our many years of experience in construction lending.  Not ready to build yet, but want to buy the lot? Let INB help with different down-payment options.

Bridge Loans

Don’t let that house of your dreams get away just because your existing home hasn’t sold!  Let INB assist you with a bridge loan. You can borrow against the equity in your home for the down payment on a short-term, interest-only basis. This limits your monthly payment while waiting for your home to sell.

Physician Loan Program

If you’re a physician, INB has a mortgage program that can help you finance a home.  The program allows financing of 100% up to $1 million, eliminates the mortgage insurance requirement and may exclude student loan debt from loan ratios. You’ll find all the details here.