Mortgage Loans

A home mortgage is one of the biggest financial commitments a person can make. It's our goal to help you achieve home ownership within the framework of income and asset capabilities. Just as there are a variety of homes, styles and prices to suit individual needs and circumstances, Hendricks County Bank offers a variety of mortgages to meet different needs. Whether you are purchasing your first home or your fifth, building a new home, or looking to refinance, Hendricks County Bank has a mortgage product to make it happen. What's more, we have the people with experience and dedication to see you through the process. With years of experience in mortgage lending, Hendricks County Bank's staff has worked with borrowers in all different types of situations. Do you have questions? Just call us and talk to a mortgage professional!

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Why Hendricks County Bank?

Hendricks County Bank was founded in 1908 and has had a commitment to the local community since its inception.  We have focused our energy on being the local community bank that meets the financial needs of the residents of Hendricks County.  Today, HCBT remains committed to the same foundational objectives.  We maintain a strong financial position and have the liquidity to finance home ownership within our communities.  The bank has dedicated itself to the well being of community life and the strength and security of the families who live here.  When you apply for a mortgage at Hendricks County Bank, you will be working with a "local" person -- someone interested in meeting with you, someone with the knowledge and experience to answer your questions, someone with the authority to make decisions.  You won't have to call an 800 number and wind your way through a maze of pre-recorded messages.

Refinance

Refinance your mortgage to consolidate debt or access cash from your home's equity.  You can reduce monthly payments, make home improvements, consolidate debt, pay college tuition or resolve any number of personal financial issues.

Purchase

Whether you are purchasing your first home, moving up to a larger one or planning new construction- Hendricks County Bank will work with you to find the best home loan solution.

Loan Products

Call or come in to learn about the various mortgage products listed below.
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Conventional Mortgages

The large secondary marketing agencies of Fannie Mae and Freddie Mac are chartered by the United States government and limited by law as to the maximize size of the loans.  Loans that are at or below these loan limits are called "conventional mortgages". The majority of mortgages will fall within this distinction.

Government

Government loans include "FHA" and "VA".  The Federal Housing Administration and Veterans Administration insure these types of loans.  These mortgages are limited in amount by federal statute and are typically used in conjunction with a low down payment, marginal credit or government assistance is required to assist the borrower in qualifying for a loan.

Jumbo Mortgages

Loans that exceed the maximum amount permitted by law for a conventional mortgage are described as "jumbo".  This loan definition is defined by loan size.


Construction Loans

These are short-term loans used to finance the construction of a new home.  Upon completion of the home, the construction loan must be refinanced and paid in full normally with a mortgage.  Most of these loans allow for interest-only payments during construction phase.

Payment Calculators

Types of Mortgages

Hendricks County Bank gives you several options.

Fixed Rate

The interest rate remains constant and unchanging over the life of the loan.  Fixed rate loans are offered in terms of 10 to 30 years.

Adjustable Rate

An adjustable rate mortgage (ARM) allows the interest rate to change during the life of the loan.  These rate changes are determined by an index identified in the loan-and other factors such as adjustment period, caps and "margins".  The initial interest rate may be lower than that of a fixed rate mortgage. But when rates change, payment amounts usually change as well.  Take a close look at the detailed program disclosure on the ARM.  Make sure you understand the terms and conditions of these loans.

Payment Calculators

NMLS numbers 

 

 

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