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At Lake-Osceola State Bank, LOSB,  we are committed to our customers and our communities.  Our commitment extends over 100 yrs and it can be seen in our actions, our employees and our products.

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You Are Here: Home Page : Personal Banking : Personal Loan Programs : Mortgage Loans

Mortgage Loans

LOSB Mortgage Loans are special.  We have numerous products, localized decision making, and a willingness to finance many different property types. Our lending philosophy is to provide quality financing opportunities to people of all backgrounds and situations.   Your dream home or vacation home may be a call away with LOSB.

30 yr Fixed Rate Loan/15 yr Fixed Loan

  • Can be used for purchases or refinances
  • Cash-Out Available
  • Rates updated daily
  • Faster turnaround times from application to closing
       -LOSB owns Lake-Osceola Mortgage Corporation which is dedicated solely to the processing of mortgage and consumer loans.  It is located within our main office. LOMC works efficiently and accurately for quick turnaround times
  • Competitive Rates

In-House Loans

  • 5-yr or 10-yr Balloon payments
  • Localized Decision Making
  • Tiered grading system
        -Grading based on Financial Strength
  • Quick turnaround times
  • Residential, Secondary, Investment, Vacant, Mobile Homes, etc.
  • Available for purchases, refinances, or cash-outs
  • Amortization limits based on principal amount

Adjustable Rate Mortgage (ARM)

  • 5yr/1yr ARMS only
        -Rate is fixed for 5 years then adjusts annually after that
  • Tiered grading system
        -Grading based on Financial Strength
  • Quick turnaround times
  • Localized Decision Making
  • Can be used for purchases, refinances, or cash-outs
  • Residential, Secondary, Investment, Vacant, Mobile Homes, etc.
  • Amortization limits based on principal amount

Construction Loans

  • Pay-interest only on the amount you have drawn for the life of construction
  • Title Company controls all draws
        -Sworn Statements and waivers necessary to receive draws
  • Typically 6-12 months
        -At the conclusion of the construction phase the loan is typically turned into a traditional mortgage
  • Tiered Grading System
        -Grading based on Financial Strength
  • Localized Decision Making
    General Contractor or Individual in charge of construction process must be identified

USDA Rural Development Guaranteed Loans

  • No Down Payment Required
  • 100% guarantee from USDA
  • Low-moderate income
  • No Monthly Mortgage Insurance
  • Rates updated daily
  • Faster turnaround times from application to closing
       -LOSB owns Lake-Osceola Mortgage Corporation which is dedicated solely to the processing of mortgage and consumer loans.  It is located within our main office. LOMC works efficiently and accurately for quick turnaround times
  • Competitive Pricing
  • Must qualify by USDA Standards

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