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Mortgage Products and Options
Heartland Preferred Mortgage offers a wide range of financing options. Below are a few of our most popular. Click on any of the items listed below to learn more.
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FHA loans are more popular than ever and Heartland Preferred Mortgage is a specialist in FHA lending. As a "full eagle" supervised lender, we underwrite and fund all loans internally, affording us greater speed and control over the entire process, which means we can close your FHA loan weeks before other lenders in most cases.
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We offer a wide range of programs specially designed for first time homebuyers. Our home loan experts work closely with clients to understand their unique situations and will guide them through every step of the home buying experience.
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If you’re planning on building a new home, you’ve come to the right place. Here at Heartland Preferred Mortgage, we specialize in making construction loans by offering flexibility in the mortgage process. Just have your plans, complete estimates, survey, construction agreement and building permit in hand, and you’re ready to apply.
Construction: a 1% Delivery Fee* of the loan amount will apply (1% of the construction costs for a rehabilitation loan). You may borrow a maximum of 90% of the final value of the property or acquisition costs.
Four to six months are given to complete the construction. Non completion fees beyond your construction period will apply if the construction is not completed by the date specified. * Delivery Fees are a percentage of the mortgaged loan amount and are payable at closing. |
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We offer 2 very attractive "no money down" or "100% Financing" programs, including VA and USDA Rural Housing Loans.
VA Loans
We're proud to offer VA loans to active military personnel, qualified veterans and certain members of the Reserves.
USDA Rural Housing Loan Program
The USDA Rural Development loan program is not "just for farmers". Many suburban communities qualify, offering incredible benefits to borrowers. USDA mortgages are the only "no money down" program available to borrowers that have not served in the military.
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Jumbo loans are mortgages that exceed $417,000 for a 1 unit; $533,850 for a 2 unit; $645,300 for a 3 unit; and $801,950 for a 4-unit Primary or Secondary residence. Jumbo loans require special attention and knowledge, and our loan officers all have extensive experience with these unique loans. As a division of a federally charted savings bank, we are able to offer a wide variety of loan options that may be outside conventional guidelines.
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If you're just beginning the home buying process, lock in one of today's low rates and rest easy that your rate will not go up. And, if rates go down you can "float" down and lock in a lower rate!
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Bridge Loans are a great option when you're ready to purchase a new home and don't want the added pressure of having to immediately sell your existing home.
Bridge loans are temporary loans that "bridge the gap" between the actual sales price of your new home and the new mortgage. Your existing home is what secures the loan and the funds can be used as a down payment for your new home. |
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With an Interest Only loan, you can make interest only payments for the first ten years, potentially saving hundreds of dollars every month. If you're not concerned about paying your loan off quickly or you simply prefer to keep your monthly payments as low as possible, then an Interest Only loan may be a perfect solution. Fixed and adjustable terms are available.
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