Buying a new home or refinancing your existing mortgage?
First Northern Bank and Trust offers a wide range of residential Mortgage options to suit your financial and lifestyle needs. If you’ve never owned a home, be sure to check out our First-Time Home Buyers Program.
Your credit score and other factors can affect your ability to qualify for a loan and how much you pay for that loan. Please note, application and appraisal fees may apply. View Mortgage rates and details.
Construction and Rehab Mortgage Loans
- One Time Closing
- Up to 95% Loan to Value (this offer does not apply to credit sale transactions)
- Can be used for both purchases and refinances (1 unit primary residences or second homes only)
Investment Property Loans
Government Mortgage Lending Programs
If you have questions or are interested in submitting an Application, call 1-800-344-2274 and speak with one of our mortgage lending professionals, licensed through the Nationwide Mortgage Licensing System. See additional details.
Rural Housing USDA
Affordable home ownership opportunities are available to families and individuals looking to purchase an eligible home in a rural area with zero down payment. Income limits apply.
- 100% LTV of appraised value
- No down payment
- 30 Year fixed-rate term
- Purchase only
- One unit, primary residence
- Maximum county income limits apply
- Up to 6% seller contribution allowed
- No cash reserves required
- Home must be located in HUD rural area
FHA Mortgage Lending
- Backed by the government, this loan allows the borrower to pay for mortgage insurance. It enables a person to purchase a home with a lower down payment and lower income requirements than traditional loans.
- 15 or 30 Year fixed-rate terms
- 96.50% LTV - purchase transaction
- 100% Gift allowed for down payment from a family member
- Refinance up to 97.75% of a home's value
- 85% LTV for cash-out
- No reserves for 1-4 unit properties
- Single family, 2-4 units, PUD condos, and manufactured homes
- Owner-occupied primary residence
VA Mortgage Lending
Veterans Affairs Mortgages are available to active military members and veterans. There are no mortgage insurance requirements and sometimes borrowers can qualify for zero down payment.
- 15, 20, and 30 Year fixed-rate terms
- LTV up to 100%
- No down payment requirement as long as the sales price does not exceed the appraised value
- No private mortgage insurance requirement
- Purchase, rate and term, and cash-out refinances are available
- Closing costs may be paid by the seller
- Borrower must have a valid Certificate of Eligibility
VA, USDA, and FHA Loans are referred to a third party vendor. First Northern Bank and Trust receives a fee for these referrals, and does not process, underwrite, fund, or service these loans.