When it comes to real estate loans, Irwin Bank ranks among the top for highest loan approval rates in Southwestern Pennsylvania. 
Let Irwin Bank help you unlock the door to your new home.

 

CONVENTIONAL MORTGAGES


Calculate Your
Payment For Your New 
Dream Home
A Conventional Mortgage easily defined is a "traditional" mortgage product.  The mortgage rate is fixed and so is the term.  Term means the amount of time it will take you to pay back your loan.  Terms available are 15, 20 and 30 years.  The longer your term, the lower your payment.  However your interest expense, over time, is also higher.  Talk with your loan specialist about the best option for you.  A minimum 5% down payment is required.  A down payment is based on the sale price of your home.  A Conventional Mortgage is also available for refinancing.

NON-CONVENTIONAL MORTGAGES

A Non-Conventional Mortgage can be easily described as a loan that does not quite fit all of the "traditional" mortgage lending requirements.  We will diligently work with you to secure the loan that best serves your needs.






CONSTRUCTION LOANS
Irwin Bank is proud to be 
a leader in Construction 
Mortgages.  Our program 
boasts a one time closing 
that features a combination construction/permanent loan. 
With some banks, there are 
two closings.  The first is the 
construction phase. 
  
Then there is another closing after the home is finished for the permanent/ long-term financing.  Permanent financing is available up to 30 years.  With our great service, we have simplified lending and reduced banking hassles so you have more time to enjoy your home.  As another benefit, if you own the lot on which your home will be built, the equity can be used as a down payment.
BI-WEEKLY MORTGAGES
A Bi-Weekly Loan is typically structured like a "traditional" mortgage, however payments are made every two weeks instead of once a month.  A great advantage to this type of loan is a substantial reduction in interest expense.  Because interest is calculated on the outstanding balance, bi-weekly payments reduce the balance faster, which decreases the amount of interest paid.  Terms of 15, 20 and 30 years are available.  Payments are automatically drafted, at no charge, from an Irwin Bank Checking or Statement Savings Accounts.

MULTIPLE FAMILY DWELLLINGS

If you are considering purchasing a rental unit, this loan has an attractive rate.  Owners do not have to occupy the building and the unit can accommodate up to four families.  Terms are available up to 20 years.

JUMBO LOAN

Jumbo Loans are loans that exceed the "traditional" mortgage amount, currently $214,600* or above.  We have attractive rates and terms are available up to 30 years.
*Please call for current amount.

FHA LOANS

FHA is an acronym for Federal Housing Authority.  Through this government program that fosters home ownership, borrowers are able to finance the majority of their closing costs.  Down payments can be as low as 1.25% with terms available up to 30 years.
COMMUNITY HOME OWNER PROGRAM
This is a great program for buyers who earn below $30,000 and are purchasing a home $50,000 or less within Irwin Bank's market area.*  An attractive interest rate accompanies our Community Home Owner Program.  Typical closing costs such as appraisal fee, credit report, processing fees, document preparation fees and settlement fees will be paid by Irwin Bank.  This feature saves you money; money which can be used to help furnish your new home.
*Market area is defined as the bank CRA assessment area.
FIRST TIME HOME BUYER PROGRAM
Attractive rates are also a feature of this program and is available in conjunction with the Pennsylvania Housing Finance Agency Bond Program.  This mortgage can be conventional or FHA.  Payment terms are available from 15-30 years.  Some restrictions apply to income, maximum purchase price and first time buyer status.

Credit is subject to approval.  Insurance is available.  Taxes and insurance are extra.
 

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