We offer many types of mortgage loan programs designed to help you with your home financing needs.
We love helping people get into a home they love. Purchase or refinance your home with a mortgage loan tailored to your needs. Our mortgage rates are competitive, and our local lenders will work with you every step of the way.
As a full-service financial institution, we offer conventional and jumbo loans. Whether you are looking to get a home loan for your primary residence, a second home, or an investment property, we are here to help.
For those that qualify, minimum down payment mortgage loan programs are designed to help you get into your new home sooner rather than later. As an approved FHA, VA, RD, and Idaho Housing and Finance Association (IHFA) lender, D.L. Evans Bank is happy and able to help!
Details
Below are some of the various loan programs that we offer. Let us help you find out which program(s) you qualify for!
All loans are subject to credit approval.
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Conventional
This type of mortgage loan is not backed by a government agency. These conforming loans follow rules set by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). The maximum loan amount for a conventional loan is $766,550 in most areas for a single-family residence. We offer conventional mortgage loans for primary residences, second homes, and investment properties.
Jumbo
This mortgage loan is for those individuals that want to borrow more money than the established conforming lending limit of $766,550. Jumbo loans usually have a higher interest rate and follow stricter lending guidelines than a conventional conforming loan because the larger loan amount represents a bigger risk.
Second Home
If you are looking to acquire a one-unit dwelling that you will occupy for at least some portion of the year, you may be eligible to obtain mortgage financing for as little as 10% down, even if you intend to use it as a short-term vacation rental.
Investment
An investment property is a 1-4 unit home that is not occupied by the owner, usually with intentions to rent out or use in order to generate income. Mortgage loan financing is available for these types of rental properties, whether purchasing or refinancing.
Bridge Loans
Bridge loans are designed to help close the gap between buying a new home and selling your old home. This short-term loan helps you use the value of your current home to finance the down payment or closing costs for the purchase of your new home. An example for a bridge loan is when the closing date for the purchase of the new home is scheduled for after the closing date for the sale of your current home. Using a bridge loan can help make the selling and buying timeline less stressful.
Federal Housing Administration (FHA)
FHA loans can be more flexible when it comes to approving the borrower. A 3.5% down payment is required on purchase loans, and the down payment can come from gift funds. Refinance options are available as well.
USDA Rural Development (RD)
This program provides 100% financing (no down payment required) and helps people that meet their income guidelines purchase a home in designated rural communities.
Veterans Administration (VA)
The VA provides 100% financing (no down payment required) for eligible Veterans and U.S. military personnel. This program is very flexible with income and credit and doesn't have monthly mortgage insurance (MI), which means a lower monthly mortgage payment.
Idaho Housing and Finance Association (IHFA)
IHFA is a non-profit organization based in Idaho specializing in providing eligible buyers, that meet their income guidelines, with low down payment mortgage loans and down payment assistance through down payment loans and other programs. As an approved Idaho Housing lender, we proudly offer this program to eligible buyers.
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