Purchasing a new home is an exciting undertaking, but sometimes the experience can
seem overwhelming. That's why having the residential lending team at INTRUST Bank
to guide you through the financing can be so helpful. Our expertise, coupled with
our resources, can simplify the process for you, from pre-qualification to loan
closing. With us by your side, you can relax and concentrate on moving in to the
home of your dreams.
Fixed Rate Loans
- You'll always know what to expect with a predictable, non-variable mortgage payment.
- Your monthly principal and interest payments never change because your interest
rate does not fluctuate for the duration of the loan.
- While fixed rate loans generally have higher interest rates than adjustable rate
loans, they do offer predictability that many homeowners, especially those on a
fixed or modestly increasing income, find appealing.
- Fixed rate loans may be the right loan for you if you plan to be in your home for
a while.
Adjustable Rate Loans(1)
- Adjustable Rate Mortgages (ARMs) are loans that generally provide an initial rate
that is lower than the standard fixed rate loan.
- After an initial fixed rate period (3, 5 or 7 years), the interest rate can adjust
annually based on the movement of a specific index plus a margin typically not to
exceed 2 percent every year and 6 percent over the life of the loan.
- Your monthly payment changes as the rate changes annually.
- The initial payment of an ARM is usually low, permitting the purchase of a home
that otherwise may be unaffordable with a fixed rate mortgage, although there is
a risk of higher payments later.
- An ARM may be right for you if you need the lowest possible initial payments or
if you don't plan to keep your home for more than a few years.
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Loan Program
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May be right for you if:
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Key Features
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Conventional Fixed Rate Loan
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- You plan to put at least 5% money down; and
- You want the stability of fixed monthly principal/interest payments for the duration
of the loan
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- Borrow up to $417,000
- Minimum 5% down
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Jumbo Loan
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You want the same stability as a conventional loan, but need to borrow a larger
amount
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Borrow between $417,001 and $3 million
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Interest Only Loan(2)
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You need maximum cash flow and lower monthly payments in the short term
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- Reduced monthly payments (although higher payments near the end of the term)
- Qualify for a larger loan amount
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FHA/VA Government Loan(1)
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- You have less money to put down; or
- You’re using a gift from family for a down payment; or
- You’re a qualified veteran borrower
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- Allows family gift for down payment
- With FHA Loan, pay minimum 3.5% down and lower monthly mortgage insurance
- With VA Loan, pay zero money down and no mortgage insurance.
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Swing/Bridge Loan(1)
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You need to close on the home you are buying before your existing home is sold
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Access the equity in your existing home as a down payment on the home you are buying
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Balloon Loan(1)
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You anticipate relocating or you plan to live in your home a short period of time
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- Short-term loan with payments amortized over a long term
- Unpaid principal balance of the loan becomes due and payable at the end of the balloon
term
- Interest rate is generally lower than the conventional fixed rate loan
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Construction Loan(1)
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You need construction financing or construction and
long-term financing for the home you're building
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- Pay your builder as needed for the duration of the construction term
- Interest accrues only on the outstanding balance and can be paid monthly or at maturity
- Save time & money when you arrange construction financing and long-term financing
at one time and ensure a smooth transition between the two
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(1) This loan program is not available for online application. To
apply for this loan program, please contact us.
(2) Future monthly payment obligations will increase after the interest only payment
period ends. Your payment could increase even more if you have an adjustable rate
mortgage and interest rates increase.
The home loan experts at INTRUST have the experience to understand the best options
for you based on your current situation as well as the flexibility & know-how to
tailor the right products to meet your individual needs. For more information about
these and other home loan programs, or to learn about which choices might be right
for you, contact Customer Service by