Borrowing
Are you buying a home, refinancing, or perhaps looking to get some cash out of your home’s value? We can help you get the home loan or mortgage that works for you.
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Whether you’re buying your first home, downsizing, or refinancing, we are here to help. We can also help you take advantage of your current home’s equity with a line of credit or a home improvement loan.
Buy
Refinancing
A lower interest rate will enable you to lower your monthly mortgage payment and free up money for other needs or wants.
You can significantly reduce the amount of interest you pay on your home loan by refinancing to a shorter term.
If you’re considering a home improvement project, looking to consolidate debt, or pay for a college education, a home equity loan may be the answer.
Home Equity
Home Equity loans are an excellent way to take advantage of the hard work and money you’ve already invested in your home. They allow you to access cash for whatever you need. Because there are different options and they are a bit more complicated, we are happy to have a conversation with you to find the right fit. But hey, if you know what you want you can skip below to the links for applications.
Testimonial
“We have a mortgage and a second mortgage with 1st Source Bank. We’ve never had any difficulty. It’s a class act organization where they make you really feel valued.”
1st Source Bank Consumer and Mortgage Manager Danny Conroy explains how to make your home equity work for you.
Comparing home equity options
Terms of the Loan
Set specific loan amounts, payment amounts, and payoff date
Offers flexibility. You apply for a specific credit limit but borrow as little or as much as you like up to that limit. $250 minimum draw
Interest Rates
Doesn't change
Changes with Wall Street Journal Prime
Payment Amounts
Set payment amount
Based on your balance
All loans are subject to credit approval and standard processing fees. 1st Source checking account required. Minimum loan amount is $5,000 for Home Equity Lines or Loans. Contact us for full details.
Contact one of our experienced Mortgage Loan Originators to get your rate quote!
Understanding Home Buying
Frequently Asked Questions (FAQs)
