Purchase or Refinance Your Home | Elements Financial
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Purchase or Refinance Your Home

Apply for a Home LoanYour home mortgage rate is an important factor in your overall financial wellness. At Elements Financial, we offer mortgage and home equity solutions to support your financial wellness. We can help show you ways to save on mortgage rates, fees, and closing costs.

Before you upsize, downsize, or refinance your home, turn to a trusted mortgage loan officer and let us help you get the most out of the process.

Refinance Your Current Mortgage  |  Colonial Savings Payments Q&A  |  Rate Calculators

Available Products and Terms

First Time Homebuyer ProgramMortgage Modification Program

First-time buyers can purchase a house through our First Time Homebuyer Program without a significant down payment.

Further, there's no PMI (Private Mortgage Insurance), a benefit that can translate to considerable savings over time.

  • 95% financing available
  • No Private Mortgage Insurance (PMI) required
  • Loan amounts up to $275,000
  • Competitive rates
  • Single family primary residences only

Another priceless advantage from Elements is the guidance buyers receive from our experienced mortgage team, available to walk you through the process step by step.

Refinance Elements Financial to Elements Financial portfolio mortgages for primary residences and second homes (rental properties not eligible).

  • No appraisals
  • No application
  • No documentation necessary
  • Quick turnaround
  • Low fees

If you're interested in our Mortgage Modification Program, contact the Mortgage Hotline at (317) 277-8226 or (800) 561-9433.

Fixed-Rate MortgagesAdjustable-Rate Mortgages (ARMs)

With a Fixed-Rate Mortgage, you'll always know what your monthly principal and interest payments will be. You can also lower your monthly payments by spreading them out over a long period of time.

For a fixed-rate mortgage, the interest rate remains fixed for the stated period of the loan. Elements offers 5, 7, 10, 15, 20, and 30-year terms1 available.

Elements Financial ARMs offer lower early payments than a fixed-rate mortgage. They may also give you the opportunity to take advantage of lower rates in the future.

If you're planning on owning your home for a shorter period of time, an ARM may be a good option for you.

Jumbo MortgagesLand Loans

Elements Financial Jumbo Mortgage loan amounts are available from $417,000 to $2.5 million2 depending upon your property location.

Jumbo Mortgages are for amounts greater than conventional limits.

Please contact the Mortgage Hotline at (317) 277-8226 or (800) 561-9433 for rate information.

If you're buying land to build a primary residence our Land Loan2 may help you finance the land purchase.

  • Unimproved residential lots
  • Finance up to 80% of the lot value
  • 1-year maximum term

Please contact the Mortgage Hotline at (317) 277-8226 or (800) 561-9433 for rate information.

First Time Homebuyer Program

We'd love to walk you through the first time home buying experience

Please contact the Mortgage Hotline at (317) 277-8226 or (800) 561-9433 for information or download our free First Time Homebuyer Financial Wellness Guide.

Elements Financial Mortgage & Home Equity Features

  • Quick Process: Easy to apply
  • Great Rates & Low Fees and Closing Costs: Highly competitive industry pricing.
  • Seasoned Professionals: Our experienced team will walk you through the mortgage and home equity processes, step-by-step.
  • Flexible Home Equity Funds: Use toward consolidation, tuition bills, home improvements or any financial need; choose between a closed-end loan or open-end line of credit. Make withdrawals with checks and transfers via eBranch or our Contact Center.
  • Possible Tax Benefits: Your interest could be tax-deductible.3
  • Credit Counseling: If you're working toward a mortgage application, pursue our confidential and supportive assistance to develop healthier financial habits for life.

To apply for a mortgage now or for rate information, stop by any Elements Financial branch, complete our online application, or call a Mortgage Loan Officer at (317) 277-8226 or (800) 561-9433.


Current Mortgage Rates

Payments shown do not include taxes and insurance premiums. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for the displayed lowest rates.

Fixed Rate Mortgages Rate Points APR Payment
30 Year Fixed 4.000% 0.000 4.085% $716.12
20 Year Fixed 3.750% 0.000 3.867% $889.33
15 Year Fixed 3.250% 0.000 3.398% $1,054.00
10 Year Fixed 3.250% 0.000 3.465% $1,465.79
7 Year Fixed 3.250% 0.000 3.551% $1,998.94
5 Year Fixed 3.250% 0.000 3.665% $2,712.00

Adjustable Rate Mortgages Rate Points APR Payment
3/1 ARM 3.375% 0.000 3.457% $663.14
5/1 ARM 3.500% 0.000 3.582% $673.57
7/1 ARM 3.625% 0.000 3.708% $684.08
10/1 ARM 3.625% 1.000 3.708% $684.08
5/5 ARM 30 Year 3.750% 0.000 3.834% $694.67
5/5 ARM 15 Year 3.250% 0.000 3.398% $1,054.00

First Time Homebuyer Program Rate Points APR Payment
30 Year Fixed 4.250% 0.000 4.336% $737.91
20 Year Fixed 4.000% 0.000 4.118% $908.97
15 Year Fixed 3.750% 0.000 3.900% $1,090.83
7/1 ARM 4.125% 0.000 4.210% $726.97
5/5 ARM 4.000% 0.000 4.085% $716.12

Jumbo Program Rate Points APR Payment
Jumbo 15 Year Fixed Call for rates - - -
Jumbo 30 Year Fixed Call for rates - - -

Government Program Rate Points APR Payment
30 Year FHA Fixed 3.875% 0.000 3.959% $705.36
15 Year FHA Fixed 3.875% 0.000 4.026% $1,100.16
30 Year VA Fixed 3.875% 0.000 3.959% $705.36
15 Year VA Fixed 3.625% 0.000 3.775% $1,081.56

Loan Quote Assumption: Rates and payments quoted above are based on loans secured by property in the state of Indiana. Rates and payments, closing costs and points may vary by property location, loan type and borrower credit and income characteristics. Not all applicants qualify for our lowest rates.

Rates are based on a purchase transaction for a single family primary residence with a loan amount of $150,000, FICO score of 740 or greater and 30% down. Mortgage rates are subject to change without notice at any time until you have locked a loan. Actual rate and payment will vary based on your specific situation. Some products may not be available in your state. Some restrictions may apply.

Notice Regarding Adjustable Rate Mortgages: Interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed rate period, the interest and monthly payments may increase but the APR will not exceed 18%.

Nationwide Mortgage Licensing System Registrants
Elements Financial FCU, 410639 Terry Foster, 484700 Terri Mossbrucker, 1385461
Barbara L Allen, 609733 Lenore Gallagher, 975065 Kristina Mowery, 916118
Luis Aparicio, 144043 Sherry Gaw, 988244 Amber D Murphy, 1082684
Cynthia Bell, 427359 Alicia Gerber, 968201 Constance Nelson, 975071
Mary Bell, 562458 Jennifer Giddens, 609735 Regina Norman, 1080327
Deborah Benson, 1093386 Robert Goodwin, 975067 Shaneka A Pedersen, 426201
Nyla Bivens, 1128100 Abigail Hall, 1469114 Meghan Pedigo, 1601304
Jamie Bonner, 435395 Amber M Handy, 610934 Janene Petree, 1529353
Laura Bordenkecher, 1590841 Theresa Iaria, 1128103 Kim Purkhiser, 1313210
Julie Bowering, 443400 Andrew Johnson, 921776 Tania Query, 608383
Dawn Michelle Bruce, 899516 Christoper Kerr, 143199 Michael J. Quinn, 563350
Tracee Buckrop, 609727 Andee Kettlebar, 443776 Rebecca Rice, 1007612
Karla Chevrie, 404630 Jill Kidwell, 609731 Miranda Grace Renee Rizzo, 1198315
Christine Clark, 609734 Sara Keedy, 1512646 Janai S Roberts, 252636
Mary Ann Deckard, 1259646 Sean Kiely, 425511 Susan Roberts, 975068
Arianne Coble, 1512441 Teresa Ledford, 444283 Ron Senci, 1068152
Joelle Crosby, 1543748 Cindy Leisure, 1080329 Brad Smith, 906855
Ashlie M Dew, 539208 Rebecca Littell, 996455 Amy Lynn Stokes, 1387213
Curtis Neal Dodd, 200259 Kristy Mars, 609725 Bradley Thompson, 609732
Ron E Ellis Jr, 1207645 Beverly Marshall, 444941 Chelsie Tupy, 1601312
Tami Renee Forsythe, 609730 Stacey McDaniel, 1157444 Alycia Willert, 1102478
Kara Michelle Fischer, 1469113 Alexander J Menestrina, 1190426 Judy Wilson, 975070
  Justin D Montour, 1198316