Accounts & Services

FHA Mortgage Loans

Advice You Can Trust

Whether you're a first time homebuyer, moving to a new home, or want to refinance your existing conventional or Federal Housing Administration (FHA) mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.

FHA loans offer flexibility with:

Difficult credit situations. FHA loans take into account not only your credit score, but your other debt and offers more flexible lending policies than conventional loans.

Lower down payments. Most conventional loans won’t allow a lower credit borrower to also have a low down payment but FHA loans allow for as low as 3.5% down.

More buying power. FHA loans allow you to be approved for more than you would typically qualify for on a conventional loan.

Apply | Print a Blank Application

Property Types
  • Illinois properties
  • Single Family Owner Occupied Residences
  • Condos (some restrictions may apply)
  • Town homes
  • Duplexes
  • 1-4 Family Properties
Terms 15, 20, 25 or 30 Years, plus 5 year Adjustable Rate Mortgages (ARM) available
Down Payment 3.5% minimum (certain restrictions apply)
Credit Score 620 or higher possible
Rates Call (815) 267-7700 for a quote
Loan Amounts For maximum loan amount check your county
Loan Purposes
  • Purchase first home or primary residence
  • Refinance existing mortgage
Pre-approval time Typically less than 24 hours. May be slightly longer during peak times.
Approval time 4 to 6 weeks
Closing Costs Call (815) 267-7700 for costs
Escrows An escrow account for taxes, homeowner's insurance, flood insurance and private mortgage insurance is required.
Private Mortgage Insurance (PMI) Required
Prepayment No prepayment penalties
Co-Borrowers Family members that will not live in the home are allowed
 

Apply | Print a Blank Application
 

Contact our Real Estate Specialist at (815) 267-7700 for more information.