These feature a fixed interest rate for the life of your loan, so your monthly payments (principal and interest) will always be the same. Most homebuyers choose 15 or 30-year fixed rate loans, however, 3, 5 and 7 year balloons, 10 year fixed rate and 20 year fixed rate loans are also available. We can review interest rates and payment amounts to help you decide what is best for you. The State Bank of New Prague offers a wide range of fixed rate mortgages for a variety of potential homebuyers including:
Low and no down payment programs:
These are often ideal for first-time buyers and buyers who have not saved a large down payment, but prefer to buy a home and begin building equity immediately.
Home loans that are sponsored by the FHA (Federal Housing Authority) and VA (Veteran’s Administration).
Jumbo loan programs:
For mortgages over $417,000.
Construction loan programs:
We offer both lot loans and construction loans which can be combined into one single closing.
Second mortgages (Piggy back mortgages):
These are often combined with first mortgages to eliminate the need for private mortgage insurance (PMI).
These enable existing homeowners to tap into the current equity in their homes.
It's easy to apply for a loan with the State Bank of New Prague