Home loan programs to fit your needs
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.
Home loan programs
Fixed Rate Loans
- Predictable, non-variable mortgage payments
- Might be right for you if you plan to be in your home for a while
Adjustable Rate Loans (ARMs)
- Generally offer an initial rate that is lower than a fixed rate loan
- After an initial fixed rate period (3, 5 or 7 years), the interest rate is subject to annual adjustments based on the movement of a specific index. The adjustment is not to exceed 5 percent as part of the initial adjustment, 2 percent annually after that, and 5 or 6 percent over the life of the loan, depending upon the loan program.
- Your monthly payment changes as the rate changes annually.
- 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.
|Loan Program||Loan Type(s)||May be right for you if:||Features|
|Conventional Loan||Fixed or ARM||- You plan to put at least 5% money down||
- Borrow up to $424,100
- Minimum 5% down
- Allows for a family gift for a down payment
|Jumbo Loan||Fixed or ARM||- You want the same stability as a conventional loan, but need to borrow a larger amount||- Borrow between $424,101 and $3 million|
|FHA/VA Government Loan||Fixed||
- 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
- Allows family gift for down payment
- With FHA Loan, pay minimum 3.5%
- With VA Loan, pay zero money down and no mortgage insurance.
Looking to Refinance?
A refinance is the process of paying off any existing mortgages on a home with a new mortgage loan. We also consider the current owner's placement of financing on a property that is not financed as a refinance transaction. The loan to value is based on the appraised value of the property regardless of the date the property was purchased and initially financed. We offer two options for refinancing:
Change to a lower interest rate or change the term of a loan without advancing new money on the loan. Closing costs can be rolled in. The borrower may receive a maximum of 1% of the loan amount in cash at closing.
Take cash out/away from the refinance by advancing new money on the loan. The cash taken from the refinance may be used for any purpose you choose (debt consolidation, credit card payments, vehicle purchases or the purchase of the investment property, for instance). Closing costs can be rolled in.