Find the Right Home Loan With Riverside Mortgage! 

Serving Our Clients in Indiana, Kentucky, & Florida

There is a lot to understand when it comes to mortgages—the terms, forms, and processes. With all this, having a mortgage can seem overwhelming. Get the information you need to prepare yourself for the mortgage application and home-buying process with Riverside Mortgage.


Call our team at 812-989-7202 for more information on our home loans.

Conventional Loan

A conventional mortgage is a home loan not guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie Mac typically require down payments of at least 3%. Borrowers who put at least 20% down do not have to pay mortgage insurance premiums, typically required with FHA loans.

Adjustable-Rate Mortgages

An ARM is an adjustable-rate mortgage. Unlike fixed-rate mortgages with an interest rate that remains the same for the life of the loan, the interest rate on an ARM will change periodically. The initial interest rate of an ARM is lower than that of a fixed-rate mortgage. Consequently, an ARM may be a good option to consider if you plan to own your home for only a few years, you expect an increase in future earnings, or the prevailing interest rate for a fixed mortgage is too high.

VA Loan

The Department of Veterans Affairs doesn't issue the loans; banks, mortgage loan companies, and brokers do. The VA insures a portion of the loan in case of default. Lenders like that, so they follow the requirements issued by the VA to grant the loans. VA loans do not require any money down and do not have monthly mortgage insurance. There is a funding fee based on your first or second time obtaining a VA loan. You may also be exempt based on your service. This information is found by obtaining your VA Certificate of Eligibility.

USDA Loan

A USDA home loan is a 100% financing (zero down payment) mortgage offered by the U.S. Department of Agriculture to home buyers in less densely populated areas of the country. Eligibility is determined by home location, income level, and other requirements.

Construction Loan

A construction loan is a short-term loan—usually about a year—used to fund your home's construction, from breaking ground to moving in. During construction, you only pay the interest on your loan, and your payments may be tax-deductible.

FHA Loan

An FHA loan is a mortgage insured by the Federal Housing Administration. With a minimum 3.5% down payment for borrowers with a 580 or higher credit score, FHA loans are popular among first-time homebuyers who have little savings or lousy credit.

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