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Low Down Payment Mortgage Loans

Sometimes coming up with a 20% down payment can be difficult if not impossible.  There are options when it comes time to purchasing a home. Let First Neighbor Bank help you with a mortgage option that will get you into your home with a lower down payment.

Conventional Mortgage Loans

We offer fixed rate conventional mortgage loans with as little as 5% down, these loans are serviced locally.  As a reminder, Private Mortgage Insurance (PMI) is required on mortgage loans with less than 20% down payment.

Downpayment Plus

The Downpayment Plus program offers individual down payment assistance.  Forgivable grants, up to $6,000 in 2020, are given to assist with down payment and closing costs.  Qualifying income levels apply and grants are forgivable after receiver owns the property for a period of five years.  This is a federally backed program.  Funds are on a first come, first served basis and will available until funding is exhausted for the year.

If you do not meet the requirements of the low down payment option loans, please talk to us about a conventional loan available through First Neighbor Bank.

Loan Department - Ask A Question

If you have a question or would like one of our loan professionals to talk to you personally, please fill out the information below. You will be contacted in one business day.

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    FIRST NEIGHBOR BANK N.A.

    ARTHUR: 217-543-2265

    CASEY: 217-932-4048

    CHARLESTON: 217-345-4060

    GREENUP: 217-923-3125

    MATTOON: 217-234-9700

    NEOGA: 217-895-5800

    NEWMAN: 217-837-2491

    PARIS: 217-463-1111

    TOLEDO: 217-849-2701

    CALL TOLL FREE: 1-877-865-3361

    Routing Number: ‍071109082

    All loans are subject to credit approval.

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    Go to the FDIC website.

    See our rating on Bauer Financial's website.

    FIRST NEIGHBOR TAX & ACCOUNTING*

    CASEY: 217-932-4048

    CHARLESTON: 217-345-3010

    NEOGA: 217-895-3272

    *Tax and accounting services provided by First Neighbor Tax and Accounting are not FDIC insured.

     

    FIRST NEIGHBOR INVESTMENTS**

    CASEY: 217-932-4048

    MATTOON: 217-234-9700

    **Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Neighbor Bank and First Neighbor Investments are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using First Neighbor Investments, and may also be employees of First Neighbor Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of First Neighbor Bank or First Neighbor Investments. Securities and insurance offered through LPL or its affiliates are:

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