Types of loans

Maybe you know exactly what you need. Maybe you need a little help deciding your best path forward. Either way, we’re here to help with loan options that suit more types of buyers.

• Conventional fixed-rate loans

  Find a lower rate with a 15, 20 or 30-year conventional loan. If interest rates drop in the future, you can refinance at a reduced rate. Private mortgage insurance (PMI) is not required with a down payment of 20% or more of the purchase price.

• Construction loans

  With a construction loan from ANB, you can cover the costs of building before you move and lock in your mortgage rate for additional peace of mind.

• Jumbo loans

  Thinking about a larger home? Jumbo loans are designed for higher purchase prices. To qualify, you’ll need a higher credit score (700 and above) and liquid assets to cover payments for 6-12 months. 

• Physician and professional loans

  We understand the unique debt and income scenarios of residents, doctors and other professionals starting their careers. These loans offer lower down payments and do not require private mortgage insurance. Common professions include anesthesiologists, architects, attorneys, dentists, veterinarians and engineers.  

• FHA loans (Federal Housing Administration)

  If you’re a first-time buyer with a lower credit score or limited savings, you can qualify for a down payment as low as 3.5% of the purchase price. Reduced closing costs are another reason why FHA loans have been a go-to loan option for first-time buyers.  

• VA loans (U.S. Department of Veteran Affairs)

  Military veterans, active-duty service members and eligible surviving spouses can all take advantage of VA loans. These mortgages don’t have requirements for down payments or credit scores and rates are often lower than conventional loans. Instead of mortgage insurance, a funding fee of 1.25% to 3.3% of the loan could be needed.

• USDA loans (U.S. Department of Agriculture)

  These zero-down home loans are a remarkable opportunity because of significantly lower interest rates and no need for mortgage insurance. USDA loan applicants must live in specific rural areas or towns with an income below a designated limit.   

• NIFA loans (Nebraska Investment Finance Authority)

  NIFA loans offer first-time buyers in Nebraska several unique programs for assistance with closing costs and down payments. All NIFA mortgages have limits on income and purchase price along with credit score requirements.  

• Home refinancing

  Refinancing your home can be used for debt consolidation, eliminating mortgage insurance, reducing the term of your loan or getting a lower rate.