Home Loans


Home Bank offers many lending solutions you can customize to fit your needs. Contact us to discuss options for financing your home, or apply for a loan today with Brian Sandberg or Mai Schendel.

Adjustable Rate Mortgage


An adjustable-rate mortgage (ARM) has a lower fixed interest rate for an initial period and then adjusts each year after based on financial market conditions. During the initial period, an ARM typically has a lower interest rate than a comparable fixed-rate mortgage, so you can save on your monthly payments during the early years of your loan term.


An ARM is a good option if you expect to earn more in the future and/or don’t plan living on your property for the full life of the loan.  


Reasons to consider an ARM


  • Initial interest rate is usually lower than a fixed-rate mortgage 
  • Interest rate can only go up by a limited amount 
  • Offers flexible repayment 
  • Easier to qualify for than other mortgage options 
  • You may choose the initial fixed period of your ARM 

Fixed-Rate Mortgages


A fixed-rate mortgage offers a straightforward, predictable monthly payment. With fixed-rate mortgages, your total monthly payment of principal and interest will stay the same for the entire term of the loan. That predictability makes it easier to set your budget. The following loans are available: FHA, Conventional, VA, and USDA.

Home Construction Loans


Home Bank construction loans help simplify the process of construction for your business, and can save you time and money. Construction loans are available with fixed-rate or adjustable-rate mortgages.


This overview shows you exactly what to expect from the building process, and how Home Bank can help finance business construction loans.

1. Apply for a Construction Loan

Call a Home Bank loan expert today to begin the application process for a home construction loan today. After we receive your completed application, you’ll be asked to provide the standard credit documentation, including:


  • W-2’s
  • Current pay stubs
  • Bank and investment statements
  • Other documentation, such as: a copy of your contract with your builder, plans and specifications of your project, and cost estimate                         breakdown

2. Get Appraisal

Once construction plans are final, Home Bank will order an appraisal. This will determine the estimated value of your completed new home based on builder plans and specifications.

3. Secure Title and Insurance

During construction, secure a construction title policy on the project. Once construction is completed and you secure permanent financing, the fee paid for the construction policy will be applied to the final title policy.


You or your contractor must also carry a builder’s risk insurance policy while your new home is being built. Typically, any local insurance agent can write a builder’s risk policy. This protects you from covering potential damage costs to the home during construction.

4. Process and Approval of New Home Construction Loan

Once your information from the application has been verified, your loan will be underwritten. Upon approval of your loan request, a closing date will be scheduled for your construction loan.


Construction loan interest rates are tied to the prime lending rate and will vary based on your credit scenario. Most construction loan terms are six to nine months.


At closing, you will pay closing costs. Some of the closing costs are one-time expenses that will be applied to your permanent loan upon conversion of your construction loan.

5. Switch to Permanent Financing

Once construction is nearly completed, the next step is to apply for a permanent loan. We offer an array of traditional and progressive home loan options. Our friendly, experienced lenders can help you find the best loan for your new home.

Home Equity Loans


With a home equity loan, you receive one lump sum and make fixed monthly payments on that amount for the entire length of the term. If you have equity in your home, a home equity loan lets you exchange a part of this equity for cash, which can be used flexibly.



Refinancing a mortgage can lower your interest rate and monthly mortgage payment. Our mortgage loan officers can potentially help you find ways to lower your monthly loan payment, shorten the term of your loan, or switch to a fixed-rate mortgage.