Welcome Home!

Current Rates or Pre-Qualification…
At Sterling Federal Bank, we make financing your home our top priority. Our special processing team will work closely with our mortgage experts to provide quick approvals. And most important, your personal mortgage specialist will be there to help you throughout the process.

First Mortgage Loans*

• Includes: Full range of 7 to 30-year loans to fit your budget
• Interest: Adjustable and fixed rates…your choice!
• Specialists: In-house mortgage specialists make the process fast and easy
• Auto-Debit: We can deduct your payment automatically from your Sterling Federal checking account
• Local: We service all of our loans for their full term. Any problems can be addressed right here, in person.
• Tax Benefit: Potential tax deduction on interest paid**

Home Equity Lines and Home Equity Loans*

• Includes: Full range of 7 to 30-year loans to fit your budget
• Interest: Adjustable and fixed rates…your choice!
• Specialists: In-house mortgage specialists make the process fast and easy
• Auto-Debit: We can deduct your payment automatically from your Sterling Federal checking account
• Local: We service all of our loans for their full term. Any problems can be addressed right here, in person.
• Tax Benefit: Potential tax deduction on interest paid**

Fixed Rate Mortgages…
Lock in your rate and payment for the full term of the loan.

• Instead of making one payment per month, you make a half payment every two weeks via our auto debit plan.
• You save thousands of dollars in interest because payments are applied every two weeks!
• You can pay off your mortgage years sooner!
• You build valuable equity in your home much faster.
• Terms from 7 years to 30 years are available.
• Flexible modifications; see a loan officer for details.
• Up to 95% Loan-to-Value ratio for purchase or cash-out refinances if needed, with PMI.

• Fixed, level payments for full loan term.
• Terms from 7 years to 30 years are available.
• Up to 95% Loan-to-Value ratio if needed.

• Fixed monthly or bi-weekly payments for 7 years, amortized over 30 years.
• Our lowest mortgage payment plan with rate protection

Adjustable Rate Mortgages…
Adjustable rate mortgages are offered at a lower initial interest rate. That means your monthly payments are lower as well. The interest rate on your mortgage will adjust with the anniversary date of the loan. The rate can increase or decrease a maximum of 2% per year, with a lifetime cap of 6% over the initial rate, payments will be adjusted accordingly. The lower interest rate on an adjustable mortgage can boost your borrowing power and help you obtain your dream home.

• Interest rate and monthly payments stay fixed for the first year, then adjust every anniversary thereafter
• The maximum interest rate change on any anniversary date is 2%
• The maximum lifetime cap is 6% over your initial rate.

* A mortgage lien on your home will be required and property insurance and/or flood hazard insurance may also be necessary. ** Consult your tax advisor about the deductibility of interest.

To Speed Up the Application Process…
When you apply for a mortgage loan, having the following information available at application time will assist us in processing your loan as quickly as possible.

• Social Security Numbers
• Residence address for the past two years, plus the names and address(es) of all landlords during that time.
• Account names, addresses, numbers and balances for all financial accounts, plus two monthly statement for each
• Names, account numbers and balances on all open loans
• Loan information and addresses on real estate owned, including property address, current market value, balance and monthly payment
• W2 forms for the past two years and last 30 days year-to-date paycheck stubs.
• If self employed, please provide personal and/or corporate tax returns from the past two years, a current profit and loss statement and a balance sheet.
• Two years of signed tax returns if you are self-employed
• Employer’s name, address and phone number
• If you are refinancing your home, please bring a copy of your title insurance and proof of homeowners insurance. (Title insurance requirement does not apply to residents of Iowa.)
• If this is a purchase, copy of signed purchase contract, receipts for earnest money.
• If a sale is pending on your existing home, copy of the purchase contract and the listing.

After you have submitted your application online, one of our loan officers will contact you to set up a brief appointment for you to drop off these required items. Our loan officer will also review all of your information, grade your credit report and make recommendations on your specific needs at that time.


You will need Adobe’s Acrobat Reader in order to read PDF documents. Follow this link to download the program if you do not already have the capability to view Adobe PDF documents.