A lower rate means lower payments.
The Rate Advantage Program is a special mortgage program designed to help low- to moderate‑income borrowers afford homeownership by offering below‑market interest rates on qualifying home loans. The program is available to borrowers who work with an FHLBank Indianapolis member financial institution, such as JCBank.
Requirements to qualify for the Rate Advantage Program:
- Home purchases only. Not eligible for refinanced mortgages or home equity lines of credit.
- Must be the primary residence of borrower(s). No investment properties or second homes.
- The property is located in Indiana.
- Qualifying income of borrower(s) is at or below 80% of Area Median Income (AMI), based on county of residence, per federal guidelines.
- Limited to certain fixed-rate products only.
No separate application or extra paperwork is required by the borrower(s), but the funds are limited and available on a first-come, first-served basis.
(Additional eligibility requirements and restrictions may apply. Funds subject to availability.)
Apply Now! Visit our Lending Team
NMLS# 738802. All applicants subject to loan program underwriting criteria and requirements. Not all applicants will qualify.