In addition to the popular 30-year fixed-rate first mortgage, Star One offers a 10-year mortgage, 15-year mortgage and 20-year mortgage.
If you missed our recent Home Buying Webinars, you can now view the recordings of them online!
Part 1—Loan and Financing
Join us as we discuss the home buying journey and dive into the mortgage financing process. View "Home Buying Webinar Part 1".
Part 2—Home Buying Process
Understand the home buying process from start to finish to help you navigate today's market and eliminate surprises. View "Home Buying Webinar Part 2".
Make an appointment for a free in-branch mortgage consultation with our experienced staff.
Cash out is available for refinance transactions up to 80% LTV.
✝ Monthly payments may vary slightly from those quoted due to rounding.
* Fixed-rate mortgage payment examples assuming a $300,000 loan: 10-year mortgage at 5.599% APR—120 monthly payments at $3,255.90; 15-year mortgage at 5.711% APR—180 monthly payments at $2,471.70; 20-year mortgage at 5.947% APR—240 monthly payments at $2,127.60; and 30-year mortgage at 6.055% APR—360 monthly payments at $1,798.50. Loan payments do not include taxes and insurance.
** 10-year fixed-to-adjustable rate: Initial 5.381% APR is fixed for 10 years, then adjusts annually based on an index and margin. For a 30-year loan of $300,000, you would make 120 payments of $ 1,520.10 at 5.381% APR, followed by 240 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
*** 5/5 fixed-to-adjustable rate: Initial 5.530% APR is fixed for 5 years, then adjusts every five years based on an index and margin. For a 30-year loan of $300,000, you would make 60 payments of $ 1,475.70 at 5.530% APR, followed by 240 payments based on the then-current variable rate. Loan payments may increase and do not include taxes and insurance.
**** In most of the country, the maximum conforming loan limit for one-unit properties is $647,200. In "high-cost" areas, the maximum conforming limit may be up to $970,800. The "high-cost" areas loan limits are established annually by the Federal Housing Finance Agency (FHFA). These higher limits are designed to make homeownership more affordable in areas with the highest home prices.
***** The Jumbo Loan limit is any amount greater than $647,200 up to $5,000,000. High-Balance Conforming allows for higher loan limits beyond the $647,200 conforming limit up to $970,800 for high-cost areas as determined by the Federal Housing Finance Agency (FHFA).
1. The Annual Percentage Rate (APR) for Jumbo loans assumes a loan amount of $800,000. The APR for all other loans assumes a loan amount of $100,000.
2. ARM mortgage loan rates may range from 5.381% APR to 5.530% APR during the initial fixed-rate period, which may be 3, 5, 7 or 10 years. The APR is subsequently variable, based on an index and margin, for the remainder of the 30-year term. For example, on a 30-year 3/1 ARM loan of $300,000 starting at 6.169% APR, you would make 36 payments of $1,453.80 during the initial three-year fixed-rate period. Loan payments do not include taxes and insurance.
3. Home-equity line of credit rates are variable and the maximum APR that could apply is 18.000%. The maximum term is 25 years, which includes a 10-year draw period and a 15-year repayment period. For lines exceeding $250,000, closing and appraisal fees may apply in the range of $1,500 to $2,500. There may be an early closure fee of $500 for home-equity lines closed within the first two years of origination.