Mortgages Designed for YOU. 

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Our mortgage process is simple. Whether you are relocating, building, refinancing, or remodeling, you can trust our team to take care of you! Start your mortgage application here. 

Conventional Mortgages

• Up to 97% financing available
• 10, 15, 20, 30 year fixed-rate terms available
• 3, 5, and 7 year adjustable rate mortgages (ARMs) available
• Available for pole barn homes, condominiums, second homes, and single family investment properties

First Time Home Buyers Programs

• 100% financing available for those who qualify
• Down payment as little as 3%
• Entire down payment can be gifted funds
• Reduced Private Mortgage Insurance (PMI) resulting in lower monthly payments
• Income restrictions may apply
• Down payment assistance is available through HOPE of Evansville

Construction Loans

• Up to 95% financing available
• Jumbo construction financing available
• Equity in the lot can be used toward down payment
• 9 month construction period
• One-time close with fixed rate locked at the beginning, through the life of the loan
• Interest only payments during construction period
• Use of a licensed builder required
• Flexible, local draws

Renovation Loan

• Can be used for a home purchase or a refinance
• Up to 95% financing available
• Value is calculated subject to the completion of the renovation
• Use the equity in the home with no limit on the amount of funds towards renovation costs
• One-time close with a 6-month renovation period
• Low payments (interest only) during the renovation period
• Use of a licensed contractor is required

Lot Loans

• Loans available up to $150,000
• Up to 80% financing available
• 1 year Adjustable Rate Mortgage (ARM)
• Financing available on vacant unimproved property

Jumbo Loans

• Loans available up to $1,500,000
• Up to 95% financing available
• 15, 20 and 30 year fixed-rate terms available
• Available for purchases, refinances and constructions

FHA Home Loan 

• Down payment as low as 3.5%
• Reduced requirements for income and credit history
• Gift funds are allowed for down payment and closing costs

USDA Home Loan

• Available on eligible rural properties
• 100% financing available

VA Home Loan

• Active duty military and veterans eligible
• 0% down payment with no Private Mortgage Insurance

Bridge Loans

• Use the equity in current home towards the down payment on a new home
• Fixed rate, short term loan

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Heritage Federal Credit Union NMLS# 423066.

Payment Example: The payment on a $150,000 30-year Fixed Rate Loan at 4.25% is $737.91. The Annual Percentage Rate (APR) is 4.301%. Payment does not include taxes and insurance premiums. Private Mortgage insurance is required on all loans greater than 80% LTV. The actual payment amount may be greater. All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. Equal Housing Lender. Insured by NCUA. *The interest rate will be based on the United States Treasury 1 year T-Bill (4.05 as of 9/19/2022), plus our margin. The APR shown for Adjustable Rate Mortgages (ARMs) may increase or decrease after consummation.