first internet bank mortgage

First Internet Bank of Indiana is an FDIC insured bank located in Fishers and Overview; Deposit Rates; Loan Rates; Branches; Climate; Financial Details. First Internet Bank of Indiana has free checking and savings account options, and it pays high interest Today's 30-year mortgage rates. 647 Followers, 1579 Following, 150 Posts - See Instagram photos and videos from First Internet Bank (@firstib).

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Senior Business Development Officer Joins Lending Team

FISHERS, Ind., November 10, 2021--(BUSINESS WIRE)--Today, First Internet Bank announced the hiring of Senior Business Development Officer Clayton Baker. He will join the Bank’s expanding Small Business Administration (SBA) Lending team.

This press release features multimedia. View the full release here:

Clayton Baker, VP - Senior Business Development Officer (Photo: Business Wire)

"Clayton is a valuable addition to our SBA team," said First Internet Bank Vice President, National SBA Sales Manager Mark Gibson. "His experience will help our small business partners access the capital they need to succeed. Our goal at First Internet Bank is guide clients through the SBA loan process seamlessly. His industry knowledge, expertise and enthusiasm make him an ideal fit for our group."

Mr. Baker has over 17 years of banking experience. Most recently, he was Senior Vice President, SBA 7(a) Business Development Officer at Atlantic Capital Bank. He has also worked for Huntington Bank, Bank of America and JP Morgan Chase. Baker received his B.S. from Northern Illinois University.

Mr. Baker noted, "I am excited to be part of an exceptional team with a strong national presence and Preferred SBA Lender status. I look forward to assisting our small business clients in their journey and putting my experience to work for them."

For more information about First Internet Bank’s SBA Lending platform, please visit

About First Internet Bank

With assets of $4.3 billion as of September 30, 2021, the Bank provides consumer and small business deposits, SBA financing, consumer loans, residential mortgages and specialty finance services nationally. The Bank also offers commercial real estate loans, commercial and industrial loans and treasury management services. Additional information about the Bank, including its products and services, is available at The Bank is a wholly-owned subsidiary of First Internet Bancorp (Nasdaq: INBK). First Internet Bank is a Member FDIC.

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First Internet Bank Contact Information
Investor Relations
Paula Deemer
Director of Corporate Administration
(317) 428-4628
[email protected]

Media Relations
BLASTmedia for First Internet Bank
Ryan Hecker
[email protected]


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First Internet Bancorp

First Internet Bancorp is a bank holding company that operates First Internet Bank of Indiana, sometimes called First Internet Bank or First IB, one of the first state-chartered, Federal Deposit Insurance Corporation-insured institutions to operate without physical branches.

The bank was founded in 1997 by entrepreneur David B. Becker, incorporated on October 28, 1998, and opened to the public on February 22, 1999. It is engaged primarily in onlineretail banking and investment in securities. Services include interest-bearing checking accounts, regular and money marketsavings accounts, certificates of deposit, individual retirement accounts, credit cards, and check cards. The bank also offers personal lines of credit, installment loans, real-time transfers between accounts, and the ability to display checking, savings and loan information on a single screen.

First IB is a privately capitalized institution with over 300 private and corporate investors. On March 21, 2006, the bank consummated a Plan of Exchange by which the bank became a wholly owned subsidiary of First Internet Bancorp, a single-bank holding company.

See also[edit]


  • United States Securities and Exchange Commission: First Internet Bank Corp Annual Report 2005. Saginaw Michigan, Saginaw Arts and Sciences Academy 2008.

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First Internet Bank mortgage review

Our take on First Internet Bank mortgage

As its name suggests, First Internet Bank is the first state-chartered, FDIC-insured institution to go 100% online. As an innovative bank, it prides itself on automated processes and a streamlined home loan application process, which can save you time.

Without the overhead costs of traditional lenders, First Internet Bank strives for competitive rates and quick, efficient service. But while it offers a range of mortgage products, including conventional and government-backed loans, its speciality offerings are slim compared to some other lenders.

Also, as a fully digital bank, you can’t walk into a branch to meet face to face with a loan officer about your loan application. Everything is handled online or over the phone.

First Internet Bank requirements

First Internet doesn’t disclose its credit score or other requirements, such as loan-to-value (LTV) or debt-to-income (DTI) limits, on its website. But typically, you’ll be required to have at least a 620 credit score. And with a 3.5% minimum down payment, your max LTV is 96.5%.

The DTI limit has been 43%, but recent rule changes from the Consumer Financial Protection Bureau have loosened this requirement.

The bank offers a preapproval process, so you’ll know your loan amount and qualifying rates before you go searching for a new home.


Be prepared to provide:

  • 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
  • Your most recent federal tax return

Costs and fees

First Internet Bank doesn’t disclose exactly how much your mortgage-related fees cost until you apply. As a general rule, closing costs on a house tend to range from 2% to 5% of the home’s total cost. You can expect to pay the following fees:

  • Third-party fees. These are collected by the bank but paid out to outside service providers and include appraisal fees, credit report fee, the settlement fee, tax service fees, title insurance, flood certification fees and courier or mailing costs. You’ll also need to pay state and local taxes and recording fees.
  • Lender fees. These include discount points, document preparation and loan processing or origination fees.
  • Prepaid items. Some costs need to be paid in advance to cover your first few months in the home. These fees include per diem interest, escrow deposit, two months of mortgage insurance (PMI) and the first year of your homeowner’s insurance premiums.

If you choose to pursue a home loan with First Internet Bank, your loan consultant should provide an estimate of the specific fees associated with your pending loan within three business days of submitting your application.

How to apply for a mortgage with First Internet Bank

The application and preapproval processes are identical, so which one you choose should depend on whether you have a home you’re ready to purchase or you want a preapproval letter to start your house search.

  1. Go to First Internet Bank’s website and choose Apply Now or Get Pre-Approved.
  2. Select Mortgage and choose Continue to enter your details to create an account.
  3. Follow the prompts to enter information about yourself, your debts and your assets, as well as the property you want to purchase.
  4. Choose Continue after reviewing your information at the end of each section.
  5. Answer declaration questions and enter your demographics information.
  6. Submit your application.
  7. Follow the instructions to upload the documents required to complete the preapproval process. Your loan officer may request additional information as they consider your application.

What types of mortgages can I get through First Internet Bank?

This company accepts mortgage refinance applications.

Other mortgage products offered by First Internet Bank

The only specialty mortgage loan this bank offers is a Construction-to-Permanent option that allows you to finance your home with a construction loan that converts to a permanent loan without charging you a second set of closing costs. Additionally, the bank offers an interest rate lock from eight to 12 months.

First Internet Bank reviews and complaints

Overall, reviews for First Internet Bank are limited. There are only seven customer reviews of First Internet Bank on Trustpilot as of October 2021, where the lender gets a TrustScore of 2.8 out of 5 stars. The lender fares better on ConsumerAffairs, where it gets a 5- out 5-star rating from 34 customers.

On the Better Business Bureau (BBB), it has an A+ rating for closing six customer complaints in the last three years. As for customer reviews on the BBB, the bank has 3.4 out of 5 stars with only five reviews as of October 2021.

On the plus side, customers speak highly of the courteous, responsive service they receive from their loan consultants and prompt processing times during the application process. Complaints describe long underwriting times and higher-than-advertised interest rates.

Pros and cons of First Internet Bank


  • Excellent customer service. Reviews online mention First Internet Bank’s great customer service. When we contacted the company, we spoke to a representative within 40 seconds, with no automated routing system.
  • Highly rated mobile app. First Internet’s mobile app lets you track your home loan account and payments and has a 4.4 rating from Google Play and a 4.8 out of 5 from Apple’s app store.
  • 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.


  • 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.
  • Fewer options. First Internet offers most of the conventional and government-backed loan products available but only offers one specialty loan.

What is First Internet Bank?

In 1999, First Internet Bank became one of the first FDIC-insured banks to operate without any physical branches. True to its name, First Internet Bank is a full-service bank that conducts its business entirely online.

It offers checking and savings accounts, CDs, IRAs, credit cards, personal loans and home loans — all digitally.

Alternatives to First Internet Bank mortgage

If you’re looking for a competitively priced conventional or government-backed mortgage loan, First Internet Bank might be a good choice. But its specialty mortgage options are limited to one, which is surprising for a bank best known for its innovative beginnings.

For a greater array of mortgage options — including land, construction, renovation, condo loans and more — lenders like Draper & Kramer Mortgage, North American Savings Bank and Stearns Lending have a wider selection of loans, in-person branches and great customer reviews, too.

If you want to save money on lender fees, consider other digital lenders like Beeline or Better. Both offer loans without lender origination fees, and a 24/7 online application process makes for a quicker loan application and turnaround.

Compare top brands by home loan type, state availability and credit score. Select See rates to get a personalized quote today.

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First Internet Bank Mortgage Review: Loads Of Options, Quick Online Application & Great Customer Support


First Internet Bank aims to be a high-tech bank that can still deliver personalized service. Since its founding in 1999, the online lender has been passionate about giving its customers convenient products in all 50 states along with a team of supportive staff. So when it comes to First Internet Bank’s mortgage services, you should expect just as much.

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Mortgage Options

First Internet Bank offers a broad variety of mortgage loan programs to suit your specific financial needs: fixed-rate, adjustable-rate, low down payment and jumbo options.

Fixed-Rate Loans

When rates are low, or you plan to live in your home for a long time, it makes sense to choose a fixed-rate home loan. The most popular form of this mortgage option is the 30-year fixed-rate program, but First Internet Bank also offers 25-, 20-, 15-, and 10-year terms. Shorter terms usually correspond to lower rates, less overall interest paid and faster home equity. However, your monthly payment will be higher with shorter-term loans.

Adjustable-Rate Loans

If you plan to live in your home for a short period of time, an adjustable-rate mortgage (ARM) might be the better option for you. ARMs are usually named by the fixed portion of the loan, followed by the reset period. For example, a 5/1 ARM is fixed for the first five years, then adjusted every year.

Low Down Payment Options

If you’re a current member of the United States military, you may be eligible for a Department of Veterans Affairs (VA) mortgage with little or no equity. There are, however, restrictions on the amount of money you can borrow.

If you don’t qualify for a VA loan, you can refinance your mortgage with as little as 3.5% down using a Federal Housing Administration (FHA) mortgage. There are also restrictions here on the amount you can borrow, but it varies depending on the home’s location.

Mortgage Rates

Current loan rates are published directly on First Internet Bank’s website.

Customer Service

Through the years, First Internet Bank has received a solid rating from its borrowers. The company also scores high on Consumer Affairs, Zillow and Lending Tree, giving you peace of mind that you’re in good hands.

SiteStar Rating# of Reviews
Consumer Affairs4.7/546
Lending Tree4.9/5120


First Internet Bank offers loans in all 50 states. As its name implies, this lender is an online bank, so there are no physical branches.

Application Process

To start, you can call or apply online and an experienced loan specialist will help you find the best mortgage option for you. First Internet Bank will ask you questions about your personal finances and the home you wish to purchases or refinance.

The online application is broken down into sections, and you can track your progress at the top of each screen. It should take no more than 20 minutes to complete. If you need additional help answering a question, just click on the question mark at the end of the statement for more information.

If you can’t finish the application in one sitting, you can save the information you’ve already put in. When you’re ready, you can return to the site and enter your User ID and password to continue and complete the application.

My Impressions

First internet Bank automates and streamlines getting a mortgage by taking the home loan process online. If you’re OK with never meeting your loan officer face-to-face, then this online lender could be a good fit. According to customer reviews from various sites, you will receive great customer care from First Internet Bank. Of course, with any decision this big, make sure to research mortgage options with other lenders before you settle on one.

Filed Under: Money TalkTagged With: first internet bank, mortgage


5 Replies to “First internet bank mortgage”

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  2. What if my parent is retiring from their job after 2 yrs of loan sanction with collateral? Do they look at parents Job scenario for repayment? Will the loan be rejected in that case and I dont have any other co-applicant also.

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