Home Loans

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Find the Right Mortgage for You

Purchasing or refinancing a home is one of the biggest investments you’ll make in your life. At South Story Bank & Trust, we’re here for you every step of the way, and our mortgage lenders will work with you to find the home loan that best fits your needs. Our smart, friendly mortgage team is ready to sit down with you and review your options for selecting a home loan. 

Have a question about a construction loan or the best mortgage product to fit your needs? Contact one of our mortgage bankers to discuss financing options.  

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Home Financing Options

There are a variety of home loan options and programs available to you when you choose to finance through South Story Bank & Trust.

Our mortgage team will review all the options available to you, so you can make an informed decision on which home loan will work best for you.

• Fixed Rate Mortgage: Your loan features a fixed rate and a payment over the term of the loan.
• Adjustable Rate Mortgage: Perfect for those who plan to live in their new home for a shorter period and want to take advantage of lower interest rates for a designated period.
• Federal Housing Administration (FHA) Loan: Overcome some of the barriers to buying a home with affordable financing options and lower down payment, and income requirements while still receiving competitive rates.
• Veteran Administration (VA Loans): This government-insured home buying program provides financing assistance, lower down payments, and lower monthly mortgage insurance premiums to eligible armed forces veterans.
• USDA (RD) Loan: This government-insured loan is used for rural communities with a population less than 20,000 people. The loan allows for 100% financing in those communities where the customer meets the income guidelines per county they are purchasing in.
• In-House Portfolio Loan: Flexible mortgage options for borrowers who would like to keep their lown with South Story Bank & Trust
• Home Construction Loan:Have you considered building your dream home? Turn your vision into reality with loans that cover the purchase of land and construction of a new home.
• Jumbo Loan:This loan is perfect for those whose loan amount exceeds the conventional conforming loan limit.

Put your home's built-up equity to work for you. South Story Bank & Trust offers Home Equity Loans and Home Equity Lines of Credit (HELOCS) to allow you to use your home's equity to your advantage.

• Home Equity Loans:Borrow up to 90% of the appraised equity of your home and pay it back with a fixed payment over a fixed term.
• HELOCs:Borrow up to the 89.9% of your home's appraised value and draw on this revolving open-ended line of credit as you need it. HELOCs are ideal for timse when you have low cash flow.

 

Mortgage Qualification Calculator