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.
- Helps match the amortization characteristics of certain fixed-rate assets and
- Can help manage difficult-to-forecast and long-term cash flows.
||Typical maturities from 3-Years to 12-Years
||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
||Call FHLBank Indianapolis by 10:00 am ET for same banking day funding