At Sb1 we've helped hundreds of your fellow members finance homes and properties with our variety of mortgage products. Our dedicated team of Mortgage
Specialists process mortgage applications every day. We understand this isn't something you do too often and we're here to help you through the process.
If you are a homeowner, a Home Equity Loan or Line-of-Credit could be your best borrowing bargain! Also called a second mortgage, a Home Equity Loan pledges your house as collateral.
And best of all, your interest may be tax deductible. Check with your tax advisor for details.
Sb1 has a variety of options to choose from for purchasing a home. Below we've detailed specifics about each of our mortgage options to help you find the one that's right for you. If you have any questions you can contact one of our helpful Mortgage originators via e-mail at firstname.lastname@example.org. You can also see our list of Mortgage Originators here.
Sb1 Fixed Rate Mortgages are available for with as little as 5% down payment and for up to $417,000. A full range of terms are available. Your interest rate and principal payment will remain the same throughout the length of your loan. This option is typically a good fit if you plan to be in your home five years or more and you're relatively certain that you won't need to refinance in the first few years.
As the name implies, these loans do not have fixed rates. Instead, they feature a rate that may adjust up or down with market conditions. If and when your rate adjusts - your payment will go up or down accordingly. Many members use ARMs because they could potentially offer lower interest rates initially compared to fixed-rate mortgages. The trade-off is the uncertainty of potential rate increases in the future.
1-year, 3-year, 5-year and 7-year Adjustable Rate Mortgages are available.
For many first-time homebuyers, coming up with a large down payment can be a challenge. We offer financing with as little as 3% down payment to qualified borrowers, a better alternative to FHA financing.
Available if you need funding for construction of a new home.
Balloon Loans provide another option for financing a home. The term Balloon is used to describe the way the loan is structured. Initial interest payments are considerably less at the beginning of the loan for a preset period of time until a large payment is due. The loan is structured this way to allow you flexibility if you are expecting a large amount of cash in the future or if you are planning to refinance.
If your dream house requires a loan amount greater than $417,000, Sb1 offers Jumbo Loan options.
Seminars are held throughout the year, where you can meet with an Sb1 Mortgage Specialist. Please check our website for seminar announcements.
We are pleased to feature a wide variety of loan programs with flexible underwriting guidelines that help us meet your financial goals. We understand every borrower’s situation is different and we take the time to listen to your story so we can better provide you with the financial resources you need.