Personal Banking > Home Loans

Fixed & Adjustable
Rate Mortgages

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The most common type of mortgage, fixed and adjustable-rate home loans are often known as conventional mortgages. They can be used to buy or refinance your home, a vacation home, a condominium, or an owner-occupied 1-4 unit family property. There are various down-payment options, and they're available with first-time homebuyer programs like FHA loans.

Start with Mortgage Pre-Approval
Mortgage pre-approval is a simple application process to determine if you qualify for a mortgage, primarily based on your credit and income information. If you do qualify, a pre-approval has many benefits. It will let you know how much house you can afford and show home sellers you are serious about a home purchase. Talk to a lender today.

Fixed-Rate

Fixed-rate loans are typically recommended for those who intend to live in their home for several years. Benefits include:

  • Lock in an interest rate that remains constant for the life of your loan
  • Predictable monthly payments 
  • Protection from rising interest rates
  • These loans can be used for home buying or refinancing
  • Loan terms from 10 to 30 years

Talk to a lender with questions or to be pre-approved.

Apply Now

Adjustable-Rate

Adjustable-rate loans are generally best for those who plan to live in their home for a short period or who initially want a lower monthly payment. They offer:

  • A lower initial interest rate, which generally means a lower monthly payment
  • Periodic adjustments to the loan's interest rate, which could be higher or lower depending on market conditions
  • These loans are available for home purchase or refinance
  • Loan terms from 10 to 30 years

Talk to a lender with questions or to be pre-approved.

Apply Now

Fixed- and Adjustable-Rate Home Loan Programs

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FHA Loans

Loan programs targeting first-time homebuyers and low-to-moderate income families.

FHA loans support affordable homeownership and refinancing for qualified Hoosier borrowers. 

  • Flexible qualification criteria
  • Low down payment
  • Gifts for down payment allowed
  • Fixed & adjustable-rate options
  • Loan terms from 10-30 years
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USDA Loans

Loan programs designed for low-to-moderate income households in USDA-eligible rural areas.

USDA programs provide a path to homeownership for Central Indiana families who have no other way to make affordable homeownership a reality.

  • No down payment & gifts allowed for down payment
  • Lower than market average fixed-rate
  • Flexible terms
  • Flexible credit guidelines
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VA Loans

Primarily designed for US veterans, current active-duty service members, and some surviving spouses.

VA loans provide housing-related benefits, including loan guaranties.

  • Competitive fixed & adjustable-rate options
  • No mortgage insurance premiums (PMI)
  • Closing costs capped at 3%, and can be paid by the seller
  • Flexible terms
  • Flexible credit guidelines
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How much difference can an interest rate make?

 

Disclaimer: This calculator is provided by a third party for educational purposes only. Citizens State Bank is not responsible for the accuracy or completeness of the results. Using this tool does not constitute an offer, representation, or guarantee by Citizens State Bank for any product or service. We recommend consulting a Citizens State Bank representative for personalized advice. Citizens State Bank is not liable for any actions or decisions made based on the information provided by this calculator.

Meet Your Central Indiana Home Loan Team

From pre-approval through loan closing, our team of Lending Specialists is knowledgeable, experienced, and capable. From Hartford City to Rushville, Carmel to Union City, no mortgage lending team understands Central Indiana better. They can help you find the loan that’s right for you.

Cassandra Miller

Mortgage Team Leader

P: 765-521-6545

M: 765-274-1008

NMLS: 647312

  • New Castle - Broad Street
  • Rushville
Cassandra Miller's Email Link Cassandra Miller's LinkedIn Link Cassandra Miller's Zillow Link MORE INFO

Ken Hall

Regional Mortgage Loan Officer

P: 317-844-5170

M: 317-752-3160

NMLS: 623077

  • Pendleton
  • Carmel
  • Fishers
Ken Hall's Email Link Ken Hall's LinkedIn Link Ken Hall's Zillow Link MORE INFO

Melanie Parker

Regional Mortgage Loan Officer

P: 765-348-1055

NMLS: 500071

  • Hartford City - Walnut Street
  • Knightstown
  • New Castle - Raintree
  • Union City
Melanie Parker's Email Link Melanie Parker's LinkedIn Link Melanie Parker's Zillow Link MORE INFO

Resources

Toolkit ARTICLE Calculators Checklist Blog

Your Home Loan Toolkit can help you make better choices along your path to buying a home. 

DOWNLOAD

 

Mastering the Home Buying Process:  A Buyer's Guide. New Castle Realtor Krista Gibson shares her insights into home shopping and buying.

READ

These Mortgage Calculators can help you make the financial decisions involved in purchasing or refinancing a home.

CALCULATORS

 

The Truth About Buying Your First Home
gives the guidance you need to prepare, plan, and build a strong foundation for successful homeownership.

DOWNLOAD YOUR FREE GUIDE NOW

 

 

Stay on top of your mortgage education with expert insights on everything from PMI to refinancing. Our Mortgage Wellness Blog is your go-to resource for smarter home financing decisions.

ACCESS ARTICLES

 

Blog Articles