|Loan Amount||Up to $2,500,000|
|APR||Starting at 3.04%|
|Loan Term (Years)||N/A|
Where does Sterling Bank & Trust do business?
Sterling Bank & Trust is based in Southfield, MI. The company was founded in 1984 and offers mortgages to borrowers in 3 states.
How much can you borrow via Sterling Bank & Trust?
Sterling Bank & Trust allows borrowers to apply for loan amounts of up to $2,500,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.
What range of rates does Sterling Bank & Trust offer?
Sterling Bank & Trust offers home loans with APRs starting at 3.04% .
Does Sterling Bank & Trust charge a mortgage origination fee?
Yes, Sterling Bank & Trust may charge a loan origination fee.
What mortgage programs does Sterling Bank & Trust offer?
Sterling Bank & Trust offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does Sterling Bank & Trust allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Sterling Bank & Trust allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- Investment properties and house flipping projects