Stearns Bank offers a variety of home mortgage options to help you realize your home ownership dreams, specializing in quick turnaround times. Pre-approvals available on all options.

Fixed Rate Home Mortgage

  • Long-term fixed rate of interest on your mortgage loan
  • Most popular type of loan
  • Allows for precise budgeting

Adjustable Rate Mortgage (ARM)

  • Interest rate changes periodically, usually in relation to an index
  • Payments may go up or down
  • Generally lower initial interest rates, because you are assuming more risk

Construction Loan

  • Terms ranging from six to nine months
  • Interest only payments until completion
  • Permanent financing available

Loan Programs (Purchase or Refinance)

  • Conventional
  • FHA (Federal Housing Administration)
  • VA (Veterans Administration)
  • Rural Development

Refinance Benefits

  • Reduce your mortgage payment by lowering the interest rate or extending the repayment period on your current loan
  • Decrease interest expense over the life of the loan by refinancing to a lower rate or a shorter term
  • Access additional cash for home improvements, education expense, debt reduction or any other needs