Home personal loans Specialty Mortgages

Specialty Mortgages Photo Specialty Mortgages

Does your mortgage fit into a tight box? Explore your options.

Among the options Central Bank mortgage lenders can offer are specialty mortgages. These include Federal Housing Administration (FHA) loans and Veterans Affairs (VA) loans. Both are popular with homebuyers. They require certain requirements be met. Central also offers USDA Rural Community and Fannie Mae loan options for first-time buyers or buyers in unique situations.

Visit our Online Mortgage Center to view current rates, compare loan programs and calculate payments!

Apply

FHA Loans

FHA loans allow homebuyers of all income levels to purchase a home with less cash upfront. Although there are monthly mortgage insurance premiums that might not make it perfect for everyone, FHA is often a great option for first-time buyers:

  • Include down-payment options as low as 3.5%.
  • Allow co-applicants to help you qualify for the loan.
  • May allow homebuyer to use a gift or grant for all or a portion of the down payment or closing costs.

VA Loans

Veterans Affairs (VA) loans provide loans for qualified veterans, reservists, active duty personnel or eligible family members. The VA loans come in a wide range of rate, term and cost options. The features unique to the VA loans include:

  • Low- and no-down payment options.
  • Potential for minimal out-of-pocket expenses with seller contributions.
  • Monthly mortgage insurance requirement is waived.

USDA Rural Community Loans and Fannie Mae

USDA Rural Community Loans and Fannie Mae programs seek to assist moderate- to low-income buyers the opportunity to own adequate and decent dwellings in eligible areas.

Standard credit qualifications apply.

View our Featured Rates in our Online Mortgage Center.

What type of property can I finance with a specialty mortgage?

We can finance all types of properties. Typically, fixed-rate mortgages apply to primary residences for single families. Specialty mortgages may have unique requirements, such as military service. Or they may have income or geography requirements.

How do I know if a specialty mortgage is right for me?

You may want to visit our Online Mortgage Center to investigate the various options, do loan calculations and find links to detailed information on each program. Our mortgage representatives are well-versed in the programs as well and are happy to help.

Will I need a down payment? How much?

The answer is usually yes. But in some cases, your military service or other unique qualifiers may put you in position to go the zero or low downpayment route. How much you’ll need depends on the type of loan you choose. You can look at various scenarios using our online mortgage calculators.

What is escrow?

Escrow are funds included in your monthly mortgage payment to cover your taxes and homeowner’s insurance. Your bank keeps these funds in an account to make payments on your behalf.

Amber Lampe's Image

Amber Lampe

Assistant Vice President, Mortgage Loan Officer | NMLS#408908

Location: Urbandale Main Office

Work Phone: (515) 254-9000

Charlie Larson's Image

Charlie Larson

Vice President, Mortgage Loan Officer | NMLS#493731

Location: Storm Lake Main Office

Work Phone: (712) 732-2190

Chris Jenness's Image

Chris Jenness

Assistant Vice President, Mortgage Loan Officer | NMLS#493730

Location: Cherokee Main Office

Work Phone: (712) 225-2546

Christopher Krueger's Image

Christopher Krueger

Assistant Vice President, Mortgage Loan Officer | NMLS#728693

Location: Sioux City Main Office

Work Phone: (712) 293-2265

Cindy Mart's Image

Cindy Mart

Vice President, Mortgage Loan Officer | NMLS#493726

Location: Spirit Lake Main Office

Work Phone: (712) 336-4100

Dianna Menefee's Image

Dianna Menefee

Assistant Vice President, Mortgage Loan Officer | NMLS#493728

Location: Sioux City Hamilton Branch

Work Phone: (712) 233-2929

Haley Greenwood's Image

Haley Greenwood

Mortgage Loan Officer | NMLS #1426798

Location: Ankeny Main Office

Work Phone: (515) 473-7033

Karen Benecke-Renken's Image

Karen Benecke-Renken

Mortgage Loan Officer | NMLS#400191

Location: West Des Moines Mills Civic Branch

Work Phone: (515) 222-1144

Vicki Davis's Image

Vicki Davis

Vice President, Managing Mortgage Loan Officer | NMLS#406039

Location: Urbandale Main Office

Work Phone: (515) 254-9000

Share

Share this on social media

  • Facebook
  • Email Us
Close

By clicking the social media icons you will be leaving the Central Bank website. We are not endorsing or guaranteeing the products, information or recommendations provided by the organizations linked to our website. We are not liable for any failure of products or services advertised on those sites. We are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website. We encourage you to read the privacy policies of websites reached through the use of links from the Central Bank website.

You are now leaving Central Bank

You are leaving the Central Bank website. We are not endorsing or guaranteeing the products, information or recommendations provided by the organizations linked to our website. We are not liable for any failure of products or services advertised on those sites. We are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website. We encourage you to read the privacy policies of websites reached through the use of links from the Central Bank website.

Would you like to continue?

Continue Cancel