SpringBank Mortgage offers a variety of loan programs to meet your needs. 

Government Mortgages: FHA and VA Mortgages

The Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) offer mortgage programs in all states. Products options include both fixes rate and adjustable rate mortgages. Features include flexible qualification guidelines for eligible borrowers. These mortgages are helpful for eligible borrowers with limited funds to use as a down payment.

FHA and VA mortgages give eligible borrowers the opportunity to become homeowners with low or zero down payment requirements deparding on the mortgage product. FHA allowable loan maximums are set by county and state. FHA loans are insured by the federal government. First time homebuyers select FHA loans because of the program's flexibility. VA guaranteed loan programs are available to Military Service Veterans, current active duty service men and women and their surviving spouses. Features include: No down payment and No mortgage insurance.

Fixed-Rate Mortgage

Fixed monthly principal and interest payments. Payments remain the same for the term of the loan. This loan options is attractive to borrowers who may remain in their home for several years. Multiple terms are available and the rate is fixed for the life of the loan.

Adjustable-Rate Mortgages (ARM)

The intial mortgage interest rate may be lower than current fixed rate loans. Choose from a number of adjustable rate loan products. Borrowers who intend to remain in a property for a shorter period of time may perfer this option. The interest rate adjust in the future.