First Internet Bank mortgage review June 2019 |

First Internet Bank mortgage review

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First Internet Bank
  • Competitive rates
  • Variety of loan options
  • Quick closing
Learn more Go to site’s rating: 4.5 / 5.0


An online lender offering a variety of loans designed to help you get the most out of your home.

Whether you’re exploring your home loan options as a first-time homebuyer or looking to refinance an existing mortgage, shopping for the right term, rate and loan type for your property can be complicated.

If you’re looking for control, autonomy and accessibility when applying for a home loan, then First Internet Bank could be the provider for you.

Name First Internet Bank
Description Competitive rates and no prepayment penalties on a variety of loans.
Loan types Purchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA
Minimum credit 620
Minimum down payment 3.5%
Origination fee N/A
Other fees First Internet Bank acknowledges a variety of closing fees associated with its loans, including appraisal fees, title charges, closing fees and state taxes. However, it doesn’t disclose the figures that lurk behind these fees, nor does it include fee estimates in its online mortgage interest rate calculator.

If you choose to pursue a home loan with First Internet Bank, ask your loan consultant for the specific fees associated with your pending loan, and keep an eye out for additional fees in your loan documentation.


  • Online application.
  • Variety of loan options.
  • Online account access.
  • No prepayment penalties.


  • Hard credit pulls.
  • Two-step application.
You'll find customers online who say that the initial interest rates offered on their home loans weren't honored after their home appraisals were completed. While First Internet Bank doesn't guarantee the APRs advertised while applying, some borrowers say they felt misled by the bank’s rate lock-in agreement.

First Internet Bank is accredited by the Better Business Bureau, which awards it an A+ rating. Customers speak highly of the courteous, responsive service they receive from their loan consultants and prompt processing times during the application process.

Do I qualify for a loan with First Internet Bank?

To qualify for a home loan with First Internet Bank, you’ll need a minimum personal credit score of 620. You’ll provide copies of your recent paycheck stubs, your most recent tax return and a comprehensive list of your assets and debts.

If applying for a conventional loan, you’ll need to prepare for a minimum down payment of 5%. The maximum debt-to-income ratio First Internet Bank is willing to accept is 50%.

Compare to other lenders

Name Product Min. down payment Origination fee
Connect with vetted home loan lenders quickly through this online marketplace.
0.5% to 1.0%
Flexible options, fast approvals and support online backed by a trusted brand.

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What can I expect with a First Internet Bank mortgage?

  • Maximum loans. First Internet Bank offers both conforming home loans and nonconforming jumbo loans. While it doesn’t disclose the maximum loan amount available on its site, most jumbo loans start at $424,100 and peak at $3 million.
  • Interest-only payments. If you’re interested in flexible payments, First Internet Bank offers variable-rate mortgages or ARMs with interest-only payments.
  • Automatic payments. Ensure that you never miss a mortgage payment by automating your loan payments through your First Internet Bank online account.

Pros and cons of First Internet Bank mortgages


  • Variety of loan options. Offering fixed-rate, adjustable-rate and even FHA or VA home loans, First Internet Bank can help you narrow down a mortgage to fit your needs.
  • Online account. Monitor your payments and mortgage information simply and easily from your computer or mobile device.
  • No prepayment penalties. None of First Internet Bank’s loan programs charge prepayment fees, which means you can save unnecessary interest by paying off your mortgage early without penalty.


  • Hard credit pulls. To complete your application, First Internet Bank performs a hard pull of your credit, which could temporarily decrease your credit score.
  • Two-step application. While a majority of the home loan application takes place online, you’ll need to follow up with your assigned loan officer to complete the process.

How do I get started?

Next steps

First Internet Bank assigns a loan officer to your account. Follow up with your loan officer to submit the required documentation needed to complete your application.

You can check the status of your home loan application through your online account with First Internet Bank. Or call 866-742-5158 weekdays from 8 a.m. to 8 p.m. ET or Saturdays from 9 a.m. to 4 p.m. ET.

Eligibility requirements

  • Personal credit score of 620 or higher
  • Minimum down payment of 5% for conventional loans
  • Maximum debt-to-income ratio of 50%

Required documentation

  • Your full name and personal contact information
  • Your Social Security number
  • List of your assets, including savings, real estate, car titles and other investment records
  • Complete list of your debts, including student loans, auto loans, personal loans and credit cards
  • Recent paycheck stubs
  • Most recent federal tax return

I got the loan. Now what?

  • Review your loan agreement. Look through your loan agreement to familiarize yourself with late payment penalties or fees you may need to contend with over the life of your loan.
  • Automate your payments. Autopay can remove the stress — and fees — that come with missed payments.
  • Get help. Reach out to First Internet Bank’s customer service by live chat, email or phone.

Bottom line

First Internet Bank automates and streamlines an otherwise time-consuming and tedious undertaking by allowing you to submit many of your personal, financial and property details online. Without the overhead costs of traditional providers, First Internet Bank strives for competitive rates and quick, efficient service.

If you’re looking for in-person support for your home loan, research your other mortgage options with other lenders before making a decision.

Frequently asked questions

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews and borrower experience.

Read the full methodology of how we rate home loan providers.

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