Depending on your goals and financial situation, Old National has different mortgage options available to you. We'll help you understand the differences and choose the right solution to get you in the home of your dreams.
Old National will give you $500 toward closing costs when you apply for one of our qualifying purchase or construction loans between 4/1/19 and 6/30/19. Qualifying loans include:
With an interest rate that remains constant for the life of the loan, a fixed rate mortgage makes
budgeting
predictable regardless of market fluctuations.
There are several key ratios that lenders consider when determining your ability to obtain a mortgage loan. As a general rule, your total monthly expenses should not exceed 43% of your gross monthly income. Our Home Affordability calculator can help determine how much home you can afford.
Subject to credit approval. Property insurance required.
1. Escrow for property taxes and insurance is required. Rates, terms and conditions effective as of May 1, 2018 and are subject to change. Available on first mortgage purchase transactions on owner-occupied residences only. Borrower must commit to moving his/her banking relationship to Old National and be open to being introduced to a Private Banker. Other restrictions may apply. See bank for details. Based on a $250,000 loan at 100% LOTV, on a 360-month term, with a principal/interest payment of $1,285.35 and an interest rate of 4.625%, the $1,200 prepaid fee results in an APR of 4.67%.
2. Includes associate, assistant and full professors. College or university must have a physical presence in the bank's retail lending footprint.
3. Maximum loan amount is $500,000.
4. 100% loan-to-value ratio on loan amounts up to $500,000 for medical residents.
5. Subject to credit approval. Property insurance required. Home Manager Mortgage requires an Old National Home Manager Account. $50 minimum deposit required. $25 fee assessed if account is closed within 180 days.
