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Home Loans

Our dedicated and experienced group of mortgage specialists are committed to serving the wide range of our customer's needs. Our goal is to provide our customers with a loan tailored to fit their needs in a timely manner.

Buying a home is the single largest financial transaction most of us will ever make. At First National Bank & Trust we offer a variety of financing options.

Fixed Rate Mortgage

  • Your monthly principal and interest payment will not change over the lifetime of your loan.
  • Terms from ten to thirty years 
  • Available on new home purchases or the refinancing of your current mortgage 

Adjustable Rate Mortgage (ARM)

  • The interest rate on your mortgage will be fixed for a certain period of time, at First National Bank & Trust the terms are three or five years. At the time of the first rate adjustment, the interest rate can increase or decrease. Our ARMs follow the "two-six" formula. The interest rate can't go up more than 2% per adjustment period or more than 6% over the lifetime of the loan. Rates can go lower in certain cases. 
  • Terms from three to thirty years

Guaranteed Rural Housing loans

  • Administered by USDA Rural Development 
  • Allows eligible borrowers to obtain a mortgage for the purchase of qualified real estate for up to 100% (102% in certain cases) of the appraised value or purchase price of a home, whichever is less  
  • No down payment is required.

Refinance

  • We can help you determine the amount you will save in interest costs over the life of your loan and the amount you will save on a monthly basis.
  • Other reasons for refinancing your current mortgage may include debt consolidation or remodeling.

No Closing Cost Option

  • With a No Closing Cost Mortgage*, you won't have to pay upfront closing costs for things such as an appraisal, underwriting and processing fees. You can control how much you pay out-of-pocket.

*No Closing Cost options are only available in fixed-rate purchase or refinance loans; may not be available on all loan types. You may still be required to pay interim interest, mortgage insurance or escrows. Contact one of our mortgage lenders for more information.

Grant Programs

  • Neighborhood Impact Program (NIP)  
    • NIP grants are offered through the Federal Home Loan Bank of Indianapolis (FHLBI), of which First National Bank & Trust is a member. 
    • NIP grants do not accumulate interest or require monthly payments.* 
    • NIP grants are available on a first-come, first-served basis. 
    • Provides rehabilitation assistance to qualified homeowners. NIP funds are for home repair including replacement of roofs, windows, furnaces, etc.

  • Homeownership Opportunities Program (HOP) - down payment assistance
    • HOP grants are offered through the Federal Home Loan Bank of Indianapolis (FHLBI), of which First National Bank & Trust is a member. 
    • HOP grants do not accumulate interest or require monthly payments.* 
    • HOP grants are available on a first-come, first-served basis. 
    • Provides assistance to first time home buyers (prior homeowners may qualify subject to certain criteria).  
    • Proceeds can be used for down payment and/or closing cost assistance.
  • Accessibillity Modifications Program (AMP)
    • AMP grants are offered through the Federal Home Loan Bank of Indianapolis (FHLBI), of which First National Bank & Trust is a member. 
    • AMP grants do not accumulate interest or require monthly payments.* 
    • AMP grants are available on a first-come, first-served basis. 
    • Provides funding for accessibility modifications and minor home rehabiliation for both income-eligible senior homeowners and owner-occupied households with a person(s) with a permanent disability.

For additional information on these and other grant programs, including requirements and qualifications, visit the FHLBI website, www.fhlbi.com. To determine income qualifications, www.huduser.org.

*A NIP/HOP grant is only repaid, on a pro-rata basis, if the customer sells (or in some cases refinances) their home within five years of receiving the grant. After five years the grant is forgiven.

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