Mortgage Advances
Mortgage advances are fixed-rate advances that are repaid according to a specified schedule with a balloon payment of remaining principal at maturity.
Amortizing advances are available through the Community Investment Program (CIP) with maturities up to 20 years.
This advance:
- Helps match the amortization characteristics of certain fixed-rate assets and
- Can help manage difficult-to-forecast and long-term cash flows.
| Term |
Typical maturities from 3-Years to 12-Years |
| Rate |
At the time of application, FHLBank Indianapolis will provide a fixed rate indication and a principal repayment schedule based on the terms and prepayment assumptions specified by the member |
| Interest is Paid |
Monthly and at Maturity |
| Principal is Paid |
Monthly or annual repayments of principal are based on a prepayment assumption selected by the member, allowing the repayment of the advance to match anticipated prepayments on the mortgages being funded |
| Principal Prepayment Policy |
May prepay subject to applicable limitations and prepayment fees described in the mortgage advance terms sheet |
| Application |
Call FHLBank Indianapolis by 10:00 am ET for same banking day funding |