Mortgages

Get a Competitive Rate Dependent on Your Credit Score and Downpayment

Fixed-Rate Mortgages

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

Unlike traditional mortgages with one interest rate over the life of the loan, ARMs have two periods: a fixed period and an adjustable period. Details here.
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Government VA and FHA Loan Programs

INB offers Veterans Administration (VA) and Federal Housing Administration (FHA) loan programs to assist veterans with 100% financing with no need for mortgage insurance, which can mean substantial savings. We also offer FHA programs which have a low downpayment 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.
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Assistance Programs Including First-time Homebuyer Programs

Homebuyers can take advantage of these 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. See the FHLB website for complete requirements.
• IHDAccess Forgivable -- 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. Complete details on the IHDA website.
• HomeReady/HomePossible Mortgage – If you have 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.
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  • *97% LTV can use any fixed-rate term. **Restrictions apply.
  • HomeReady/HomePossible Very Low Income Purchase (VLIP) -- VLIP can make or break the possibility of home ownership for low-income s. You could be eligible for this $2,500 credit. It's a grant with no repayment for those who qualify.

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 if 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.
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Jumbo Loan Programs

The maximum amount for a conventional loan in the Central Illinois area is $766,550 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 funds above the conventional limit to avoid monthly mortgage insurance.
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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. If you are building and investment property, contact Becky Luzinski who will walk you through the loan process.
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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. Talk to an INB Lender about a bridge loan.

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.
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Second Mortgage/HELOC/Home Equity Loan

Use the money you've earned in your home equity to make home improvements and more. Details here.
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Calculators

Need help understanding if you’re ready for a mortgage?  Our Home Financing Calculators will help.

To start the pre-qualification process, choose a mortgage lender in your area and begin the online application.