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If you were buying a home in the Wabash Valley, why would you ask someone on Wall Street for permission? Doesn't make sense to us either.

Our low, home mortgage loan rates are outdone only by our incredible service. All decisions are local at First Robinson Savngs Bank, and the servicing will remain local. It's not only the right thing to do — it creates faster closings and better service for the life of your loan.

  • Competitively low rates for home purchase, refinance, or construction
  • A wide range of terms customized to your unique situation
  • Several financing programs available:
    • Fixed rate mortgages
    • Adjustable-rate mortgages (ARMs)
    • USDA Rural Housing Loans
    • First Time Homebuyer specials
    • Construction Loans
  • Helpful loan advisors with working knowledge of the local real estate market
  • Free pre-approval for extra confidence when it comes to securing financing
  • Refinance your current home to potentially lower your rate
  • Local decision-making and processing — your mortgage stays at First Robinson Savings Bank
  • Attentive, friendly service from start to finish

CONSTRUCTION LOAN 

  • Convenient financing for building from the ground up or for remodeling an existing home 
  • 20% minimum down payment 
  • Interest-only payments while in the construction phase 
  • Use 80% of appraised value on completed improvements and lot 
  • Low closing costs and competitive rates 
  • You pick your builder 

LOT LOAN

  • 20% minimum down payment
  • Finance purchases of residential lots
  • Low closing costs and competitive rate

GRANT PROGRAM (Downpayment Plus® Program)

  • Up to $10,000 available for down payment and closing costs for the purchase of your home
  • Meet income eligibility requirements
  • Minimum borrower contribution of $1,000
  • Complete pre-purchase homebuyer education & counseling
  • Live in home as primary residence

FIXED RATE LOAN

  • Little as 3% Down with Private Mortgage Insurance
  • Owner Occupied, 1-4 units
  • Purchase & Refinance Options available

ADJUSTABLE-RATE LOAN

  • Several options available including 3/1, 62 mo/5y, and 7/1 ARMs
  • Fixed interest rate for an initial period, then can adjust annually or every 5 years
  • Options to consider: Planning on moving, relocating, or paying off loan early during the initial rate lock period or a first-time homebuyer not yet in forever home
  • Down payments as low as 5% for qualified applicants
  • If applicable, PMI required on LTV over 80%
  • After the ARM Period, it is possible the borrower’s payment may increase substantially over the remaining term of the loan

FIRST TIME HOMEBUYER LOAN

  • 3% down payment of purchase price and closing costs can be a gift from a family member
  • Reserves may be required
  • Private Mortgage Insurance (PMI) is required
  • At least one borrower must be a first-time homebuyer
  • Owner occupied, 1-unit primary residence only
  • No Manufactured Homes permitted

MANUFACTURED HOME LOAN

  • Minimum 5% down payment
  • Purchase, rate/term refinance, and cash out options available
  • Existing, permanently attached doublewide homes
  • New manufactured home loans see construction loans
  • Must be manufactured after 1976 and have HUD tags/labels

PROFESSIONAL LOAN

  • No Private Mortgage Insurance (PMI)
  • 100% financing up to $750,000 loan amount
  • 90% financing over $750,001 loan amount
  • 62 mo/5y ARM
  • Owner occupied, 1-unit primary residence only
  • Purchase and rate/term refinances are eligible
  • Eligible borrowers: Medical Resident, Medical Doctor (MD), Doctor of Ophthalmology (MD), Doctor of Podiatric Medicine (DPM), Doctor of Osteopathy (DO), Doctor of Optometry (OD), Doctor of Dental Medicine (DMD) & (DDS), and Veterinarian
  • Student loan may be excluded if meet requirements
  • After the ARM Period, it is possible the borrower’s payment may increase substantially over the remaining term of the loan

USDA RURAL HOUSING LOAN

  • 100% financing available
  • Owner Occupied, 1-unit primary residence only
  • Purchase & Streamline Refinance available if have a current USDA loan
  • Income limits apply by county for low to moderate income households
  • Property must be located within a rural area or designated area
  • Seller may pay up to 6% of the buyer’s closing costs, including Prepaids such as property taxes, insurance, and homeowner’s association dues
  • Subject to program guidelines

VA LOAN

  • Up to 100% financing on Purchases and 90% LTV on Rate Term Refi and cash out refinance
  • Owner Occupied, 1-4 units
  • Seller may pay up to 4% of the buyer’s closing costs, including Prepaids such as property taxes, insurance, and homeowner’s association dues
  • Eligible veterans and active-duty military personnel
  • Subject to program guidelines

ESCROW

  • Calculated to be a monthly payment for property taxes, homeowners insurance and flood insurance so you don’t have to come up with a lump sum all at once
  • Part of your monthly house payment
  • Available on real estate fixed and adjustable mortgage loans

REFINANCING

  • Potentially Reduce monthly payments
  • Shorten the term of your loan
  • Convert equity into cash
  • Convert an adjustable rate mortgage to a fixed rate
  • Use equity to finance in closing costs

Loans subject to approval.