Residential Home Loans

Fixed Conventional Loans

A Fixed Conventional Loan offers a fixed rate of interest and fixed payment over a set period of time. For example:

With a 30-Year Fixed Conventional Loan, payments are calculated over a 30-year period and will have the lowest monthly payments of all the fixed-rate programs. Because the loan is paid back over 30 years, it will also have the highest long term interest costs of the fixed-rate programs if the loan is kept for the entire 30 years.

With a 15-Year Fixed Conventional Loan, payments are calculated over a 15-year period resulting in a slightly higher monthly payment than the 30-year loans. The lower interest rate in addition to the shorter payment term of the loan will result in long-term interest savings.

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ARM (Adjustable Rate Mortgage) Loan

An ARM is a loan with a fixed interest rate for an initial period, after which the rate is then adjusted periodically. It also allows the lender to adjust the interest rate in accordance with a specified index and margin periodically, as agreed to at the inception of the loan.

The first number (initial period) for an ARM will tell you how long the interest rate on the loan will remain the same before it changes. The second number (subsequent period) will tell you how often the interest rate will adjust. For example, a 5/1 ARM means the interest rate you see will remain the same for the first 5 years of the loan and will then change every year after that.

Typically, an ARM has a lower initial interest rate than a fixed-rate mortgage loan, but after the initial period, your interest rate and monthly payment will increase if interest rates rise.

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Jumbo Loan

A mortgage which is larger than the legislated purchase limits of Fannie Mae and Freddie Mac (currently $453,100).

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FHA (Federal Housing Administration) Loan

A mortgage which is partially insured by FHA, usually assumable, and may have reduced down payment requirements compared to conventional mortgage.

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First Time Home Buyer Program

A mortgage loan program also known as NIFA (Nebraska Investment Finance Authority) which is administrated by the state of Nebraska and provides mortgage loans with less stringent down payments and lower rates for first time home buyers.

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VA (Veterans Administration) Loan

A mortgage where the Veteran’s Administration provides assistance to veterans of the United States Armed Forces by partially guaranteeing loans to veterans with low or zero down payment.

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1. Choose a Loan Officer

Our loan officers are qualified professionals that will work with you throughout the mortgage process.  Meet our mortgage lending team

2. Pre-qualification

Lincoln Federal offers free pre-qualifications.  Use our loan payment calculator to help determine your budget.  Our loan officers are available to help you select the mortgage loan program that best fits your needs. 

3. Track Mortgage Rates

Lincoln Federal prides itself in offering competitive rates and closing costs.  View today’s rates.

4. Submitting Your Loan Application

Whether you're buying, building or refinancing a home, Lincoln Federal offers many ways to apply for a loan.  You can apply directly on your loan officer’s website, in person, via telephone, or by downloading an application.

5. Mortgage Checklist

Once you have received a loan estimate and have indicated your intent to proceed, use our mortgage checklist to begin gathering information needed for underwriting your loan.

6. Loan Closing

Once your loan is approved, your loan officer will contact you to set up the closing and answer any additional questions before closing.

Get started by choosing a loan officer

Mortgage Loan Officers in Lincoln

Mortgage Loan Officers in Other Communities