Conventional

Fixed Rate Mortgage

These mortgage loans have a rate and monthly payment that stay the same throughout the lifetime of the loan. We offer fixed rate mortgage with 10, 15, 20, or 30 year terms.  Some of our more common fixed programs:

Jumbo Conventional

• 80% Loan To Value up to $1.5 Million.  Equity Lines Allowed to 90%
• 700 FICO
• Great low rates
• Close in 30 days or less

Conforming High Balance

• 680+ FICO
• Up to 90% LTV
• Loan amounts to $726,525
• No Mortgage Insurance
• Avoid Jumbo Loan Underwriting Restrictions

HomeReady

• Purchases up to 97% including FTHB
• Refinances up to 95% LTV, regardless of current mortgage program
• Reduced Mortgage Insurance
• High Balance available
• Relaxed AMI income limits based on census tracts
• Gift funds eligible for entire down payment

Home Possible

• Up to 95% LTV
• First time homebuyers, move-up borrowers, and retirees
• No income limits for Underserved Areas
• No reserve requirements for 1-unit properties
• Gift funds eligible for entire down payment

Home Possible Advantage

• Up to 97% LTV
• First time homebuyers, move-up borrowers, and retirees
• Refinances up to 97% LTV, regardless of current mortgage program
• No income limits for Underserved Areas
• No reserve requirements for 1-unit properties

Adjustable Rate Mortgages (ARM)

ARMs allow you to start with a lower rate than fixed-rate loans, but the rate can adjust up or down periodically. STELLAR mortgage’s ARMs start with an introductory term of 1, 3, 5, 7, or 10 years.

Combination Loans (80/10/10)

​​A Combination Loan refers to a first mortgage taken out in combination with a home equity loan or line of credit (often referred to as a second mortgage). STELLAR mortgage offers combination loans for up to 90% of your home’s value with conforming and jumbo loan options.

No Closing Cost Option

A no closing cost option is available in conjunction with conforming loans. In exchange of STELLAR mortgage paying all non-recurring closing costs (lender fees, title fees, recording, etc.) the borrower pays a slightly higher interest rate.

Niche Portfolio Products

STELLAR mortgage has the ability to help our members when other financial institutions won’t. If you have a unique property or situation, call one of our Mortgage Professionals today.