Welcome To Home Mortgage loans
Thinking about buying a new home? No problem, we’re here to help.
Did you know that Illuminus Bank is a leader in the mortgage industry? It’s true, and you’re in good company – many of our customers have said they would recommend us in the future.
Now, let’s get started. The prequalification process:
Is fast – it takes 5 minutes
Is free – always free
Won’t affect your credit in any way.
Click below to get a basic estimate of what you may be able to borrow.
From purchasing your first home to financing an investment property, we’ve got you covered.
We offer loans that meet almost every mortgage need.
Conventional fixed-rate loans
No interest rate changes
Conventional 30-year term
5.625% Rate
6.776% APR
FHA loans
Lower credit score requirements
FHA 30-year term
5.375% Rate
6.251% APR
VA loans
Option to make $0 down payments for military members
VA 30-year term
5.250% Rate
6.617% APR
The rates shown are current as of 04/24/2025.
These rates are based on some standard assumptions as described below. Learn more about interest rates and annual percentage rates (APRs). Plus, see an estimated conforming fixed-rate monthly payment and APR example.
When debating between renting vs. buying, you need to think about your lifestyle and finances. While renting can provide more flexibility, owning a home enables you to build equity in the property and may provide tax benefits.
Buying a home is a huge step, especially when you’re moving from renting to owning.
Here are some steps to help you prepare to buy your first home:
- Pay attention to (and improve) your credit score
- Use our Affordability Calculator1 to see how much home you can afford
- Save money for a down payment
- Save for additional home buying costs (inspections, insurance, deposits, etc.)
- Get preapproved2 for a mortgage loan
- Find a Home Lending Advisor
- Find a real estate agent
- Start looking for homes!
A preapproval gives you an estimate of how much you can borrow based on your income, employment, credit and bank account information. To be sure you’re getting the best deal, talk with multiple lenders and compare their mortgage rates or loan options.
Whether you're looking for a single-family home or a penthouse apartment, understanding your wants and needs is essential.
Once you know what you want out of a home, determining your housing budget is crucial. After working up a loose housing budget, you'll need to decide how much you'll be comfortable paying each month. Your real estate agent will help you find the right home based on all of these factors.
Buying a home is a major decision, so take time to find a real estate agent that's best for you. An experienced real estate agent can make your homebuying process a smooth one by helping you find the right house and negotiating the right price. You can ask for recommendations from family, friends, your Home Lending Advisor or other people whose opinions you value. Be sure to interview several agents and research them online before choosing one.
At Illuminus Bank, you can choose from several types of mortgage loans to finance your home purchase. A Home Lending Advisor can help you understand the differences between the various loan options so you find one that suits your financial situation.
Our Affordability calculator was created to help you discover how much home you can afford.
There is no set amount. In fact, you might be surprised to learn that many first-time homebuyer programs require as little as 3.0% down. Today, there are many loan programs that can be tailored to fit your needs and financial resources. Keep in mind that for down payments of less than 20% on conventional loans, private mortgage insurance (PMI) will be required.
Traditional loans usually require documents that verify your employment, income and assets, and may include:
- Your Social Security number
- Pay stubs for the last two months
- W-2 forms for the past two years
- Bank statements for the past two or three months
- One to two years of federal tax returns
- A signed contract of sale (if you've already chosen your new home)
- Information on current debt, including car loans, student loans and credit cards
To find a Home Lending Advisor (HLA) for you:
- Find a Illuminus Bank Lending Advisor to start the process. Search by last name (if you have an HLA in mind), by city, or by zip code.
- Once you enter your location or a specific last name, you'll get a list of Home Lending Advisors in your area. Every HLA listing includes their location, NMLS ID#, phone number, and a link to their profile page.
- If you're interested in learning more about a specific HLA, click "go to (name)'s page".
- Each HLA’s profile page will tell you how many years of experience they have, full contact information, and, oftentimes, a short bio. This information should give you a good sense of each advisor so you can easily make your decision.
Your Home Lending Advisor can help you find providers that offer online homebuyer education courses. You can also get a list of HUD Approved Housing Counseling Agencies in your area by calling 1-800-569-4287. Or, to search online, go to HUD.gov, enter "counseling agencies" in the search bar, then sort by your city, state or zip code and choose "Send."