Mortgage Loans
Construction Loans
A construction loan is a short-term, higher-interest loan used to fund the building of a residential property. Unlike a traditional mortgage that pays for an existing house, a construction loan is a short-term loan that releases funds in stages (or "draws") as building milestones are met. Once the build is complete, it typically converts into a standard mortgage.
- Borrowers typically pay interest only on the funds that have been disbursed so far
- Funds are safely managed and released to builders upon milestones
Home Equity Loans and Lines of Credit
These options let you borrow against the equity you've built up in your property. A Home Equity Loan gives you a lump sum with a fixed rate, while a HELOC works like a credit card, letting you draw funds as needed with a variable rate.
- Highly effective for large, singular expenses like kitchen remodel or medical bills
- Interest paid may be tax-deductible if the funds are used for the home
Home Loans Tailored to You
The right home loan from Highlands Bank can help you unlock the door to your dream home. Explore our mortgage options and contact us to get started today!
Fixed Rate Mortgages
With a fixed-rate mortgage, your interest rate and your monthly principal-and-interest payment stay exactly the same for the entire life of the loan — whether that's 15, 20, or 30 years.
- Monthly housing expenses remain immune to market fluctuations
- Ideal for buyers planning to stay in their home for the long-term
Adjustable Rate Mortgages (ARMs)
An ARM starts with a lower, fixed interest rate for an initial period (usually 5, 7, or 10 years). After that introductory period ends, the rate adjusts periodically based on current market trends.
- Introductory rates are typically lower than standard fixed-rate loans
- Ideal for buyers planning to sell, relocate, or refinance
Secondary Market Programs
Expanded Options for Qualified Homebuyers
- Our affordable lending programs are designed to help more individuals and families achieve homeownership with lower down payment requirements and flexible financing solutions.
HomeReady®
- Created for qualified low-to-moderate income borrowers
- Reduced down payment options
- Flexible income sources may be considered
Home Possible®
- Low down payment financing solutions
- Flexible funding options for closing costs and down payment
- Designed to meet a variety of homeownership needs
FHA Loans
Flexible Financing with a Low Initial Investment
- FHA loans can make homeownership more accessible by offering lower down payment requirements and flexible qualification standards.
- Down payment assistance may come from approved gift funds or eligible sources
- Flexible credit guidelines
- Lower upfront cash requirements
- Available for primary residence purchases
USDA Loans
Helping Make Homeownership Possible in Rural Communities
- USDA loans are designed to support eligible homebuyers in rural areas by offering affordable financing options with flexible requirements.
- Low or no down payment options available
- Competitive fixed-rate financing
- Flexible sources for closing costs and gift funds
- Available for eligible properties in designated rural areas
VA Loans
Home Financing for Those Who Serve
- VA loans provide valuable homeownership benefits to eligible veterans, active-duty military members, reservists, and certain surviving spouses.
- No private mortgage insurance (PMI) required
- Competitive interest rates
- Flexible qualification guidelines
- Limited out-of-pocket costs for eligible borrowers
- Eligibility requirements and entitlement guidelines apply.