Loan Programs

 Selecting The Right Mortgage

There’s a surprisingly large number of mortgage options available today, and choosing the right one can be as important as choosing the right home. Should you go with adjustable or fixed rate? Which term would best fit your needs? Let Five Star Bank assist you with your financing needs. Click here to have a Mortgage Specialist contact you.

Fixed Rate Mortgages

With a fixed rate mortgage, you don’t have to worry about balloon payments and rate fluctuations. Your interest rate remains the same throughout the entire term of your loan. The minimum down payment of the loan can be as low as 5% and the amount of the loan can be repaid over 15, 20 or 30 years. Apply Now!

Variable (Adjustable) Rate Mortgages

With this option, initial low interest rates may help you to expand you dreams and finance a bigger home. A down payment of 5% is typically required, and your interest rate is adjusted periodically based on a preselected index. That means your payments could go up or down depending on how the rates fluctuate over the life of your loan. Apply Now!

Construction Mortgages

If you prefer to build your home from the ground up or have renovations, then a construction mortgage is for you. Five Star Bank provides construction financing that is convertible to permanent financing with competitive rates and reduced closing costs. Apply Now!

SONYMA Mortgages

SONYMA is dedicated to providing affordable home ownership opportunities to low- and moderate-income families in the State of New York by offering low interest rate mortgages. Five Star Bank offers three SONYMA mortgage programs to assist you with the purchase of a home in New York State. To learn more about these programs, please click here to have a Mortgage Specialist contact you.

 

ALL LOANS SUBJECT TO CREDIT APPROVAL