Loan Programs: The Low Rate Leader!
We offer the widest range of conventional home mortgage loans available at 1st Midwest Mortgage. The program options and range of rates/terms are almost endless. Our professional loan officers will assist you in deciding which program is best suited for your needs. Here are the primary programs we offer:

Fixed Rate Mortgages Available in 10-, 15-, 20-, 25-, and 30-year periods.

  • Monthly payments the same over the life of the loan
  • Interest rates do not change
  • Rates are protected if rates go up during the loan
  • Borrower may refinance if rates go down

Adjustable Rate Mortgages Available in 6-month, 1-, 2-, 3-, 5-, and 7-year periods.

  • Payments and interest rates are generally lower than Fixed Rate Mortgages
  • Rates and payments may go up or down during the term of the loan
  • Borrower may qualify for higher loan amounts than with a Fixed Rate Mortgage.

Balloon Mortgages Available in 5-, 7-, 15-year periods.

  • Lower monthly payment over a shorter period of time
  • Unpaid balance (balloon payment) is due at end of mortgage period
  • May offer option to convert to another loan after term is completed

First-Time Buyers Program Available in a variety of Fixed and ARM programs and are designed to assist first-time homebuyers.

  • Often available with lower down payment
  • Less strict program qualifications
  • Possibility of lower rates

Imperfect Credit Programs Available in a variety of Fixed and ARM programs and are designed to assist buyers who may have imperfect credit histories.

Home Equity Line Of Credit Offers homeowners the opportunity to borrow money as needed based on the equity in their homes. Borrow as needed. Payments and interest are based on what you borrow. Interest may be tax deductible.

Fixed Home Equity Loan Fixed payments based on a fixed amount borrowed against the equity in your home. Interest may be tax deductible.