Today's Rates By Loan Type
Conventional-Indiana Rates
Estimate Monthly Mortgage Payment| Product | Rate | APR | Points | Rebate |
|---|---|---|---|---|
| Conforming 15 Year Fixed Rate | 5.875% | 6.012% | 0.000% | 0.00% |
| Conforming 20 Year Fixed Rate | 6.125% | 6.282% | 0.375% | 0% |
| Conforming 30 Year Fixed Rate | 6.375% | 6.495% | 0.375% | 0.000% |
Rates apply when assumptions are met. View here
Conventional Fixed Rate Products
Fixed Rate Mortgage loans offer an interest rate that stays the same for the length of the mortgage. The principal and interest (P&I) payment of a fixed rate mortgage never changes. However, if an escrow account is established, the total monthly payment could change based on insurance premiums and tax payments.
Conforming Fixed Rate
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- Transaction type is Purchase
- 15 year term
- 20% down payment
- 80% Loan to Value (LTV)
- Borrower Credit Score is 780+
- Lock period is 45 days
Example Payment Schedule
- Interest rate: 6.750%
- APR: 6.890%
- Purchase price: $250,000
- Loan amount: $200,000
The monthly principal and interest payment schedule would be:
- 179 payments of $1,769.82
- 1 payments of $1,759.92
Conforming Fixed Rate
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- 20 year term
- Transaction type is Purchase
- 20% down payment
- 80% Loan to Value (LTV)
- Borrower Credit Score is 780+
- Lock period is 45 days
Example Payment Schedule
- Interest rate: 7.375%
- APR: 7.570%
- Purchase price: $250,000
- Loan amount: $200,000
The monthly principal and interest payment schedule would be:
- 239 payments of $1595.93
- 1 payments of $1586.17
Conforming Fixed Rate
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- 30 year term
- Transaction type is Purchase
- 20% down payment
- 80% Loan to Value (LTV)
- Borrower Credit Score is 780+
- Lock period is 45 days
Example Payment Schedule
- Interest rate: 7.375%
- APR: 7.503%
- Purchase price: $250,000
- Loan amount: $200,000
The monthly principal and interest payment schedule would be:
- 359 payments of $1381.35
- 1 payments of $1372.91
Important Notices: Rates, terms and conditions are subject to credit approval. Interest rates, annual percentage rates (APRs), discount points and rebates shown are subject to change without notice. Actual mortgage interest rates, Annual Percentage Rates (APRs), Discount points (Points), and/or Rebate may vary based on the borrower’s specific loan request and credit. The monthly payment amount shown includes principal and interest only. The actual monthly payment may be higher if an escrow account for real estate taxes and homeowner's insurance premiums is requested or required. Private Mortgage Insurance (PMI) is required on loans with LTV greater than 80%.
Borrowers opting to have the monthly mortgage payment automatically deducted from a qualifying Centier Bank checking account may be eligible for a $500.00 credit toward the closing costs of the loan. For additional checking account disclosures, click here.
VA-Indiana Rates
Estimate Monthly Mortgage Payment| Product | Rate | APR | Points | Rebate |
|---|---|---|---|---|
| VA 30 Year Fixed Rate | 6.250% | 6.586% | 0.000% | 0.000% |
Rates apply when assumptions are met. View here
VA Loans
A VA loan is a mortgage loan that is backed by the Department of Veteran’s Affairs (VA) for veterans, service members, and their survivors to buy or refinance a home.
Fixed Rate mortgage loans offer an interest rate that stays the same for the length of the mortgage. The principal and interest (P&I) payment of a fixed rate mortgage never changes. However, if an escrow account is established, the total monthly payment could change based on insurance premiums and tax payments.
VA Fixed Rate
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- 30 year term
- Transaction type is Purchase
- No Down Payment
- 100% Loan to Value (LTV)
- Borrower Credit Score is 780+
- Lock period is 60 days
- VA funding fee applied based on regular military service and first time use
- VA funding fee is financed
Example Payment Schedule
- Interest rate: 6.750%
- APR: 7.101%
- Purchase price: $200,000
- VA Funding Fee: $4,600
- Loan amount: $204,600
The monthly principal and interest payment schedule would be:
- 359 payments of $1656.36
- 1 payments of $1647.11
Important Notices: Rates, terms and conditions are subject to credit approval. Interest rates, annual percentage rates (APRs), discount points and rebates shown are subject to change without notice. Actual mortgage interest rates, Annual Percentage Rates (APRs), Discount points (Points), and/or Rebate may vary based on the borrower’s specific loan request and credit. The monthly payment amount shown includes principal and interest only. The actual monthly payment may be higher if an escrow account for real estate taxes and homeowner's insurance premiums is requested or required. VA funding fee is one time payment made at loan closing and may be included in the loan amount requested. VA Funding Fee is determined by VA and is based on type of service and benefit usage. VA eligibility certificate is required.
Jumbo-Indiana Rates
Estimate Monthly Mortgage Payment| Product | Rate | APR | Points | Rebate |
|---|---|---|---|---|
| Jumbo 15 Year Fixed Rate | 5.375% | 5.416% | 0.000% | 0.000% |
| Jumbo 30 Year Fixed Rate | 5.875% | 5.929% | 0.375% | 0.000% |
| Jumbo 5/6 Adjustable Rate Mortgage | 5.250% | 4.870% | 0.375% | 0.000% |
Rates apply when assumptions are met. View here
Jumbo Adjustable Rate and Jumbo Fixed Rate products
A Jumbo loan is a mortgage for a loan amount greater than the Federal Housing Finance Authoritys agency conforming loan limits. Loans that exceed those limits are also known as non-conforming loans. The conforming loan limits are reevaluated annually .
Fixed Rate Mortgage loans offer an interest rate that stays the same for the length of the mortgage. The principal and interest (P&I) payment of a fixed rate mortgage never changes. However, if an escrow account is established, the total monthly payment could change based on insurance premiums and tax payments.
Adjustable Rate Mortgages (ARMs) are loans with interest rates and payments that may increase after consummation. The ARM interest rate is tied to a market index which fluctuates. The interest rate will adjust periodically according to the market index plus a margin after an inital fixed-period. Rate caps limit the amount the interest rate can change at each adjustment and over the life of the loan, but any change may significantly impact the minimum monthly mortgage payment. Speak with a Mortgage Loan Originator for more information on the specific index, margin, adjustment frequency, and rate cap information.
Jumbo Fixed Rate
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- 15 year term
- Transaction type is Purchase
- 20% down payment
- 80% Loan to Value (LTV)
- Borrower Credit Score is 780+
- Lock period is 45 days
Example Payment Schedule
- Interest rate: 6.375%
- APR: 6.418%
- Purchase price: $1,062,500
- Loan amount: $850,000
The monthly principal and interest payment schedule would be:
- 179 payments of $7,346.13
- 1 payments of $7,307.31
Jumbo Fixed Rate
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- 30 year term
- Transaction type is Purchase
- 20% down payment
- 80% Loan to Value (LTV)
- Borrower Credit Score is 780+
- Lock period is 45 days
Example Payment Schedule
- Interest rate: 7.000%
- APR: 7.058%
- Purchase price: $1,062,500
- Loan amount: $850,000
The monthly principal and interest payment schedule would be:
- 359 payments of $5,655.07
- 1 payments of $5,622.26
Jumbo Adjustable Rate Mortgage (ARM)
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- 5 year fixed term with 6 month adjustmetns thereafter
- Transaction type is Purchase
- 20% down payment
- 80% Loan to Value (LTV)
- Borrower Credit Score is 780+
- Lock period is 45 days
Example Payment Schedule
- Interest rate: 5.875%
- APR: 6.992%
- Purchase price: $1,062,500
- Loan amount: $850,000
The monthly principal and interest payment schedule would be:
- Year 1-5 at 5.875% with monthly P&I payment of $5,096.18
- Year 6 at 7.875% with monthly P&I payment of $6,441.42
- Year 7-30 at 10.875% with monthly P&I payment of $7,567.47
5/6 Adjustable rate mortgage (ARM) program: Interest rate is fixed for set period of 60 months, and may adjust semi-annually thereafter. After the fixed period, the interest and payments may increase.
- Index: 30 day average Secured Overnight Financing Rate (SOFR),
- Margin: 3.000
- Adjustment caps = 2% at initial adjustment, 1% at subsequent adjustments, and 5% over the life of the loan.
Refer to the Consumer Handbook for Adjustable Rate Mortgages for more information: https://files.consumerfinance.gov/f/201204_CFPB_ARMs-brochure.pdf
Important Notices: Rates, terms and conditions are subject to credit approval. Interest rates, annual percentage rates (APRs), discount points and rebates shown are subject to change without notice. Actual mortgage interest rates, Annual Percentage Rates (APRs), Discount points (Points), and/or Rebate may vary based on the borrower’s specific loan request and credit. The monthly payment amount shown includes principal and interest only. The actual monthly payment may be higher if an escrow account for real estate taxes and homeowner's insurance premiums is requested or required. The APR may vary based on the final loan amount and finance charges.
Borrowers opting to have the monthly mortgage payment automatically deducted from a qualifying Centier Bank checking account may be eligible for a $500.00 credit toward the closing costs of the loan. For additional checking account disclosures, click here.
FHA-Indiana Rates
Estimate Monthly Mortgage Payment| Product | Rate | APR | Points | Rebate |
|---|---|---|---|---|
| FHA 30 Year Fixed Rate | 6.625% | 7.774% | 0.000% | 0.000% |
Rates apply when assumptions are met. View here
FHA Loans
FHA mortgages are loans that are insured by the Federal Housing Administration (FHA). FHA loans require a lower down payment on the purchase of a home than most conventional mortgage loan programs.
Fixed Rate mortgage loans offer an interest rate that stays the same for the length of the mortgage. The principal and interest (P&I) payment of a fixed rate mortgage never changes. However, if an escrow account is established, the total monthly payment could change based on insurance premiums and tax payments.
FHA Fixed Rate
The information provided assumes:
- Property is an existing single family home
- Property will be used as borrowers primary residence
- Property is located in Indiana
- 30 year term
- Transaction type is Purchase
- 3.5% down payment
- 96.5% Loan to Value (LTV)
- Borrower Credit Score is 680+
- Lock period is 60 days
Example Payment Schedule
- Interest rate: 7.000%
- APR: 8.159%
- Purchase price: $250,000
- Up Front Mortgage Insurance Premium (UFMIP) of 1.75%
- Total Loan amount: $245,471 (includes $4221 UFMIP)
The monthly principal and interest payment schedule would be:
- 360 payments of $1,633.12
- Mortgage insurance premium (MIP) for the first 12 months is $170.12*
- Monthly Principal, interest and MIP payment for first 12 months is $1,803.24*
*The monthly payment amount shown includes principal, interest and mortgage insurance. The estimated payment shown above is for the first 12 months only. FHA mortgage insurance premiums decline over time which will be reflected in future monthly payments.
Important Notices: Rates, terms and conditions are subject to credit approval. Interest rates, annual percentage rates (APRs), discount points and rebates shown are subject to change without notice. Actual mortgage interest rates, Annual Percentage Rates (APRs), Discount points (Points), and/or Rebate may vary based on the borrower’s specific loan request and credit. The total monthly payment will be higher, including costs for property taxes and insurance(s). An escrow account for property taxes and insurance(s) is required and will be established at closing. For a full payment schedule, please contact a Centier Bank Mortgage Loan Officer. The APR may vary based on the final loan amount and finance charges. Monthly mortgage insurance premiums apply to FHA loans for the duration of the loan.
Definitions:
- Adjustable Rate Mortgages (ARMs) are loans with interest rates and payments that may increase after consummation. The ARM interest rate is tied to a market index which fluctuates. The interest rate will adjust periodically according to the market index plus a margin after an initial fixed period. Rate caps limit the amount the interest rate can change at each adjustment and over the life of the loan, but any change may significantly impact the minimum monthly mortgage payment.
- Annual Percentage Rate (APR) is an indication of the true cost of a loan. The APR takes into account not only the mortgage rate, but also things like closing costs, discount points and other fees that are charged as part of the loan.
- Discount Points (point) are fees paid by the borrower to specifically reduce the interest rate of a loan. A discount point equals 1% of the loan amount.
- An Escrow account is an account established at loan closing that is used to pay insurance and property tax bills. Borrowers pay a monthly portion of their insurance and property tax bills with their mortgage principal and interest payments, those funds are then held in the escrow account.
- Fixed Rate Mortgage loans offer an interest rate that stays the same for the length of the mortgage. The principal and interest (P&I) payment of a fixed rate mortgage never changes.
- Private Mortgage Insurance (PMI) is insurance paid for by borrower to insure the lender in case of loan default. PMI is required on Conventional and Jumbo Loan programs when the Loan to Value (LTV) is greater than 80%. Insurance premiums are added to the monthly mortgage payment.
- A Rebate is a credit give to the borrower by the lender and is generally used to pay closing costs. A borrower may receive a rebate by opting to have a higher interest rate.
Disclosures
Centier reserves the right to discontinue any offer at any time.
Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) The SAFE Act requires Mortgage Loan Originators (MLOs) employed by federally insured depository institutions to register with the Nationwide Mortgage Licensing System and Registry ("the Registry") and to maintain and renew their registration in that system annually. Click on the link below to view Centier employees registered with the Nationwide Mortgage Licensing System and Registry.
* Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues as well as mortgage information.
Also note Compliance did not review for calculator accuracy.
SAFE Act Registered Mortgage Originators
Centier Bank NMLS # 408076
