Mortgage Products

For most people, owning their own home is a dream come true, but not many know how to make this dream a reality. 1st Source recognizes the frustration that can accompany the home loan process, and strive to make buying a home as convenient and easy as possible. We are proud to offer a wide range of mortgage products to help our customers achieve home ownership, such as:

Conventional Loan Programs
A fixed or adjustable-rate, fully amortized loan secured by a mortgage or deed of trust that is not insured or guaranteed by an agency of the federal government (such as FHA or VA). Conventional mortgages typically have a maximum loan limit which is monitored on a yearly basis by Congress. Conventional mortgages are also referred to as Conforming loans. Examples of our more popular Conventional Loan Programs include:

• 30 Year Fixed
• 15 Year Fixed
• 5/1 ARM

Government Loan Programs
A mortgage loan that is insured or guaranteed by a federal government entity such as the Federal Housing Administration (FHA) or the U. S. Department of Veterans Affairs (VA).

Reduced Down Payment Loan Programs
Programs which are designed to meet the needs of borrowers with strong credit and employment profiles, but who cannot make the standard down payment. Funds for down payment, closing costs, and/or prepaid items may be obtained from the buyer's own funds, gifts from a family member, or grants from an employer, non-profit, or government agency.

Construction to Permanent Loan Programs
A mortgage loan finances the cost of construction as well as the permanent financing of a new home. These programs are cost effective and come as either a one-time closing or a two-time closing. Our experienced mortgage originators will guide you to the program that will save you the most time and money.