Home Loans

When choosing a new home, you need to decide where you want to live, what architectural style you prefer, and how many bedrooms you need. When it comes to home financing, there are also important decisions to make. At Bank Independent, we offer a wide range of home loan options and knowledgeable mortgage experts who can help you make the right choice.

Fixed-Rate Mortgage: These traditional home loans come in terms up to 30 years. They've remained popular because monthly payments remain stable for the life of the loan, making long-term budgeting easier.

Adjustable-Rate Mortgages: ARMs feature lower initial interest rates for a set period - usually a few years. When the initial period ends, rates may be adjusted periodically, either rising or falling.

Government-Backed Loans: The FHA, USDA, and VA all have loan programs. In general, these loan programs are designed with reduced or no down payment requirements. Borrowers work directly with the Bank Independent  Mortgage team and not a federal agency.

Construction Loans: These short-term loans are for borrowers building a home from the ground up – or taking on a major renovation project. Funds cover materials and labor and are released in a timely manner for each phase of the building process. When the work is completed, our lenders can help you convert a Construction Loan to a long-term mortgage.

Down-Payment Assistance Programs: We offer several down payment assistance programs designed to help eligible homebuyers achieve their dream of homeownership. Each program has specific qualifications, and our experienced team is ready to guide you through the process to find the option that best suits your needs.

 

 

 

You might want to keep your current home, but spruce it up a little – or a lot. Bank Independent offers affordable Home Equity loans that can be used to pay for renovations such as remodeled kitchens, upgraded bathrooms, or additional living space. You're also free to use the money for other purposes, including vacations, major purchases, medical bills, weddings, and tuition bills.