Home Mortgage Loans
At Lake-Osceola State Bank, we believe everyone deserves quality financing opportunities to help them achieve the American dream of owning a home, regardless of their background or situation. That's why we offer many types of mortgage loans — as well as personal, local service to speed up the process from application to closing.
We offer traditional fixed rate loans, FHA, RD, VA, ARMs, as well as financing for manufactured homes. Regardless of your situation, there’s a good chance we have a product that can help get you into your new home.
And you can count on good counsel along the way from lenders who know the area and the local market.
Mortgage Options
Traditional Fixed Rate Loans
- Can be used for purchases or refinances
- Cash-out available
- Rates updated daily
- FHA, RD, and VA loans also available
In-House Loans
- Multiple options for repayment structure
- Localized decision making
- Tiered grading system based on financial strength
- Quick turnaround times
- Residential, secondary, investment, vacant lot, mobile homes, double-wides, etc.
- Available for purchases, refinances, or cash-outs
- Amortization limits based on principal amount
Adjustable Rate Mortgage (ARM)
- 5/1 ARMs (Interest rate is fixed for 5 years then adjusts annually after the initial 5 years)
- Tiered grading system based on financial strength
- Quick turnaround times
- Localized decision making
- Can be used for purchases, refinances, or cash-outs
- Residential, secondary, investment, vacant lot, mobile homes, etc.
- Amortization limits based on principal amount
Construction Loans
- Pay interest only on the amount you have drawn for the life of construction
- Licensed general contractor must be identified and in charge of construction process
- Title company controls all draws
- Sworn statements and waivers necessary to receive draws (All sworn statements must be signed by licensed contractor)
- Term depends on the type and complexity of construction
- At the conclusion of the construction phase the loan is typically turned into a traditional mortgage that was pre-approved by LOSB
- Tiered grading system based on financial strength
- Localized decision making
Low Income Mortgage Loans
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