Mortgage Loan Options

Hills Bank offers a variety of mortgage loans to fit your needs. Our mission is to guide you personally and carefully through the entire home loan process, so you feel confident making choices about the many options available for your new home financing. With years of experience in the mortgage industry, we are ready to assist you each and every step of the way.

Conventional Loans

Fixed-Rate Mortgages
Traditional Fixed Rate mortgage has a constant interest rate and monthly payments that never change. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because the rate is locked in for the life of the loan.

All of our Hills Bank’s mortgage loans feature

  • Low closing costs.
  • Competitively priced mortgages – low rates all the time.
  • Free and fast pre-approvals and rate quotes
  • Low down payment/first-time homebuyer programs
  • Convenient and flexible hours – even Saturdays with the ability to schedule online.
  • Quick approval times due to local ownership and loan processing
  • Home Equity, Construction, and Bridge loans
  • A variety of Fixed, Balloon, and Adjustable loan programs

Adjustable Rate Mortgages (ARM)
ARM loans feature fixed payments for a set period of time and then the principal and interest payment can change. Once the initial interest rate term has ended, the payment could adjust for the remaining term of the loan.

In-House Loans

We offer flexible in-house Adjustable Rate Mortgages (ARM). We hold these loans in-house and maintain servicing. These are loan choices that allow us to offer flexibility on qualifying, unique situations and properties.

Government Loan Programs

Federal Housing Administration (FHA)
Hills Bank can offer the benefits of the Federal Housing Administration program with down payments at low as 3.5%. Learn more about this program on the Department of Housing and Development’s website.

Veterans Affairs (VA)
Service members, veterans and eligible surviving spouses may qualify for VA Loans and its benefits including zero down payment loans and no mortgage insurance. Learn more about VA Loans on the US Department of Veterans Affairs website.

Iowa Finance Authority (IFA)
The Iowa Finance Authority strives to assist Iowans by preserving affordable housing and promoting economic development. Learn more about the home ownership programs and financing options available from the Iowa Finance Authority’s website.

USDA Rural Development Loan Assistance
The United States Department of Agriculture has developed programs to improve the economy and quality of life in all of rural America. Learn more about financial programs designed to assist with housing needs for citizens  in rural communities.

Special Loan Programs

At Hills Bank we strive to get to know you, understand your needs, and respond with the right solutions. We seek out and are aware of additional financing options to save you money and offer special loan programs.

Construction or Lot Loans
Hills Bank offers competitive terms on our new construction and lot loans. Call us at 1-800-445-5725 (1-800-HILLSBK) or schedule an appointment online with a mortgage lender to learn more.

Are you ready to begin on the path to home ownership?

To apply for pre-approval, call 1-800-445-5725 (1-800-HILLSBK), stop by any location, or schedule an appointment online with a member of the mortgage team. If you have questions about your loan already in progress, please contact the loan processing department at 1-855-597-2164.