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  Sterling Bank & Trust Mortgage Refinance

Sterling Bank & Trust Mortgage Refinance

in Mortgage Refinance from Sterling Bank & Trust · NMLS ID #409418

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Sterling Bank & Trust Mortgage Refinance

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in Mortgage Refinance from Sterling Bank & Trust · NMLS ID #409418

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Highlights
Highlights
Loan Amount Up to $2,500,000
Loan Term (Years) 10 - 30 years

Sterling Bank & Trust Mortgage Refinance Review

Sterling Bank & Trust Mortgage Refinance is offered by Sterling Bank & Trust (NMLS #409418), a bank founded in 1984 and based in Southfield, MI. Sterling Bank & Trust Mortgage Refinance is available in 4 states across the USA.

Key Takeaways
  • 4 different mortgage programs offered. Sterling Bank & Trust Mortgage Refinance refinances FHA, FHA 203k, USDA, VA, conforming, and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Non-standard interest rates available. Sterling Bank & Trust Mortgage Refinance offers hybrid mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage refinance loan early.
Sterling Bank & Trust Mortgage Refinance Pros & Cons
Pros Cons
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 4 states.
Sterling Bank & Trust Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Sterling Bank & Trust Mortgage Refinance?

The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Sterling Bank & Trust Mortgage Refinance offers mortgages refinancing with terms ranging from 10 to 30 years.

Does Sterling Bank & Trust Mortgage Refinance charge a mortgage origination fee?

Yes, Sterling Bank & Trust Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Sterling Bank & Trust Mortgage Refinance offer?

Sterling Bank & Trust Mortgage Refinance 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 Mortgage Refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Sterling Bank & Trust Mortgage Refinance allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday 10:00am - 2:00pm

Other Services by Sterling Bank & Trust

Availability

  Available in 4 states
  • California
  • Michigan
  • New York
  • Washington

Feature Breakdown

Initial Processing Fee $1
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
APR Starting at 3.24%
Loan Term 10 - 30 years
Loan Amount Up to $2,500,000
Interest Rate Types Offered
  • Hybrid Mortgage
Mortgage Programs
  • FHA
  • FHA 203k
  • USDA
  • VA
Terms 1/1, 3/1, 5/1, 7/1, 10, 15, 30 years

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