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.
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.
Fixed- and Adjustable-Rate Home Loan Programs

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

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

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
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
Ken Hall
Regional Mortgage Loan Officer
P: 317-844-5170
M: 317-752-3160
NMLS: 623077
- Pendleton
- Carmel
- Fishers
Melanie Parker
Regional Mortgage Loan Officer
P: 765-348-1055
NMLS: 500071
- Hartford City - Walnut Street
- Knightstown
- New Castle - Raintree
- Union City
Resources
Mastering the Home Buying Process: A Buyer's Guide. New Castle Realtor Krista Gibson shares her insights into home shopping and buying.
These Mortgage Calculators can help you make the financial decisions involved in purchasing or refinancing a home.
The Truth About Buying Your First Home
gives the guidance you need to prepare, plan, and build a strong foundation for successful homeownership.
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.
Blog Articles
Mastering the Home Buying Process: A Buyer's Guide
February 21, 2025 • Krista Gibson
Home Equity Borrowing
August 20, 2024 • Leah Driver