LOAN PROGRAM TYPES

LOAN PROGRAM DEFINITIONS

MAXIMUM LOAN AMOUNTS

30, 20 and 15 Year
Conforming Fixed Rate

Fixed For 30, 20 or 15 Years For Life Of Loan

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7-23 and 5-25 Conforming Extendable Balloon

Fixed For 7 or 5 Years; Then Option To Refinance For Remaining 23 or 25 Years

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10/1, 7/1, 5/1 and 3/1 Conforming ARM

Fixed For 10, 7, 5 or 3 Years; Then Converts To 1 Year Treasury Bill ARM

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1 Year Conforming Treasury Bill ARM

Fixed For 1 Year; Then Adjusts Annually

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6 Month Conforming LIBOR ARM

Fixed For 6 Months; Then Adjusts Every 6 Months

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30 and 15 Year Jumbo Fixed Rate

Fixed For 30 or 15 Years For Life Of Loan

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10/1, 7/1, 5/1 and 3/1 Jumbo ARM

Fixed For 10, 7, 5 or 3 Years; Then Converts To 1 Year Treasury Bill ARM

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1 Year Jumbo Treasury Bill ARM

Fixed For 1 Year; Then Adjusts Annually

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FHA and VA Loans

 

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USDA and OHFA programs available in certain areas

 

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Equal Housing Lender. © 2006 Loan Star Mortgage, Inc.. Trade/service marks are the property of Loan Star Mortgage, Inc. and/or its subsidiaries. Some products may not be available in all states. Loan Star Mortgage, Inc. is licensed and regulated by the Ohio Department of Commerce, Division of Financial Institutions, Certificate # MB.802156.000. Points may change your APR. Loan Star Mortgage, Inc. is an Equal Opportunity Housing Lender. All programs, rates, terms and payments are subject to qualification and may change without notice. Loan Star Mortgage, Inc. is located at 8255 South Ave., Boardman, Ohio 44512. (330) 729-0690.