Looking for the right home financing solution? At First Mid, we offer a diverse selection of mortgage options designed to meet the needs of every borrower. Whether you’re searching for affordable home loans, first-time homebuyer programs, flexible home equity loans or a home equity line of credit (HELOC), our experienced local lenders are here to help. From new construction loans to mortgage refinancing, low down payment mortgage options, and a First Responder and Military discount, we’re committed to making the home loan process simple, transparent, and personalized to you.
Frequently Asked Questions (FAQs)
What types of mortgage loans do you offer?
At First Mid, we offer a variety of home loan options to meet different financial needs and life stages. These include:
- Conventional mortgages (fixed-rate and adjustable rate)
- First-time homebuyer loans
- Jumbo loans for higher-value properties
- Refinancing loans
- Lot and construction loans
- Home equity loans and home equity lines of credit (HELOCs)
What kind of loan terms and down payment options do you offer for conventional mortgages?
For conventional mortgages, we offer terms ranging from 10 to 30 years, and both fixed and adjustable-rate options are available. Down payments may be as low as 3% for qualified borrowers¹.
Does First Mid have programs for first-time homebuyers?
Yes. At First Mid, we offer special mortgage programs for first-time homebuyers that feature low down payments and competitive rates to make homeownership more accessible and affordable.
What is a jumbo loan?
A jumbo loan is designed for purchasing higher-value homes that exceed conventional loan limits. These limits may vary by location. Jumbo loans typically require higher credit scores and larger down payments.
Can I refinance my mortgage with First Mid?
Yes. First Mid provides refinancing options that may help you lower your monthly mortgage payment or access equity for things like home renovations or debt consolidation. Try our Mortgage Refinance Calculator to explore your options.
Do you offer loans for buying land or building a home?
Yes! We offer:
- Lot Loans to help you secure the land where you plan to build.
- Construction Loans to finance the cost of building a new home. These loans often require good credit, larger down payment, and reserves (extra funds set aside by the borrower).
What is a home equity loan or home equity line of credit (HELOC)?
Both a home equity loan and a HELOC let you borrow against the equity in your home. Equity is the difference between how much money is owed on a mortgage loan and how much the home is worth. The funds borrowed can be used for a variety of purposes such as home improvements, debt consolidation, emergency expenses, and vacations. Learn more about Home Equity Loans and HELOCs.
How do I get pre-qualified for a mortgage?
Getting pre-qualified for a mortgage with First Mid is free and easy:
- To estimate what you may be able to afford, use one of our mortgage calculators.
- Find a First Mid mortgage lender near you and apply online to get pre-qualified. We will just need some basic information.
- We will review your submission and contact you about your pre-qualification status.
Why is it important to get pre-qualified for a mortgage?
With pre-qualification, you will know the value of the home you can afford and the estimated size of your monthly mortgage payments. The letter of pre-qualification will give you confidence when you talk to the real estate agent or seller. Pre-qualification gives you negotiation power and an advantage over other potential buyers because it indicates you are a serious buyer ready to make a decision.
What should I do if I need to report an error or request information about my mortgage?
You have certain rights under federal law related to resolving errors in the servicing of your mortgage loan, requesting information about your mortgage loan, and…(click for more). For complete instructions, please contact us directly.
- Example: A $100,000 conventional fixed-rate mortgage requiring a 3% down payment ($3,000) and interest rate 6.75% with APR of 6.951% | 360 monthly payments of approximately $648.60 each (30-year term) | Additional rates and repayment terms may be calculated upon request. Note: The monthly payments are based on a $97,000 loan amount (after 3% down) | Rates are subject to change, actual rate may be higher based on credit, occupancy, and LTV (loan-to-value). The payment example does not include taxes or insurance and are subject to approval.
- Subject to verification of information provided.
