Home Mortgage Loans

• Competitively low rates for home purchase, refinance, or construction
• Available for primary residence, second homes, vacation homes, or investment properties
• A wide range of terms customized to your unique situation
• Several financing programs available:
• Fixed-rate mortgages
• Adjustable-rate mortgages (ARMs)
• Jumbo loans
• Construction loans
• Helpful mortgage lenders with working knowledge of the local real estate market
• Free pre-qualification for extra confidence when it comes to securing financing
• Refinance your current home to potentially lower your rate
• Local, Mid-Michigan decision-making and processing
• Attentive, friendly service from start to finish

Learn More

Not sure what you need to apply? Take a look at our Mortgage Loan Application Checklist (PDF). If you have any other questions, contact us to speak with an Isabella Bank mortgage specialist.

Also, take advantage of free education on buying a home at Community Compass. Get these simple lessons and more:

• Considering Homeownership
  Understand what you need to consider before buying a home.
• Buying a Home
  Learn the process, resources, and strategies to help you buy a home while sticking to a budget.
• Mortgages
  Learn how to work with a lender you trust and find a mortgage that fits your needs and budget.

Fixed-Rate Mortgages

A fixed-rate mortgage features an interest rate that remains the same throughout the life of the loan, so your monthly principal and interest payment will be steady and predictable. If you can contribute a 20-percent down payment or more, you may be able to avoid the cost of private mortgage insurance.

• Down payments as low as 5%
• Fixed/level payment of principal and interest for the life of the loan; interest-only payments available in some situations
• Balloon payment options not available
• May require private mortgage insurance

Adjustable Rate Mortgages (ARMs)

If you expect your income to increase or plan to own your home for a short while, an Adjustable Rate Mortgage (ARM) may be your best option. ARMs offer lower initial interest rates. After a specified period, the interest rate adjusts based on a preselected index plus a margin and is generally subject to periodic and life-of-loan interest rate caps and floors. We offer a range of terms with the following as options:

• No down payment necessary- 100% financing available
• 3/1 ARM: Interest rate is fixed for the first three years and then adjusts annually- available for investment property and vacant land loans only
• 5/1 ARM: Interest rate is fixed for the first five years and then adjusts annually
• 7/1 ARM: Interest rate is fixed for the first seven years and then adjusts annually
• 10/1 ARM: Interest rate is fixed for the first ten years and then adjusts annually
• Balloon payment options not available

Jumbo Loans

Jumbo mortgages are home loans that exceed conforming loan limits. A jumbo loan is one way to buy a high-priced or luxury home. Your interest rate will be fixed for the life of the loan, so you can plan a long-term budget.

• Borrow more than local conforming loan limits 
• Fixed interest rate for the life of the loan
• Down payments as low as 20%
• Debt-to-income ratio of 45% or less required

Building your home from the ground up is a whole lot easier when you have local experts right around the corner. Transition from the construction phase to mortgage payments with the help of Isabella Bank.

• Competitively low rates for your home construction project
• Available for primary residence or second home construction
• Provides more convenience, especially toward the end of the construction phase and the beginning of permanent mortgage
• Pay off interest quicker; payments are interest-only during construction phase
• Payments are made on the amount drawn on your loan sufficient to pay your builder
• Construction draws applied in stages based on work completed