Is your son or daughter moving out of your home when they go away to college? Attending college is a big step down the road of your child’s future. Golden Belt Bank wants to help your student on their road to success with the Home4Student loan program. This program allows parents and their student to purchase a home with a fixed interest rate while they are enrolled in a university, junior college, or technical school. Help your child build equity in a home by transitioning their rent payment into a house payment.
Who Is It For?
Golden Belt Bank’s Home4Student loan program is for parents or guardians interested in buying a second home for their child to live while the child attends college. Students must be enrolled in a technical college, community college, or a four-year university. Not located in Kansas or in a college town? No problem, we will go wherever your student is.
Our Home4Student Loan Features:
- 5.000% / 6.041% APR1--fixed for the first 60 payments
- Adjusts to 4.00% over the 1-Year Treasury Index thereafter
- 5 x 1 Adjustable Rate Mortgage
- Flexible term up to 30 years
- Use equity in your primary residence, investment property or other real estate for the 15% downpayment
Ready to get started? Contact one of our loan officers today!
1APR is subject to increase after consummation. Assumes a borrower with excellent credit and is subject to change without notice. Depending on loan guidelines, mortgage insurance may be required. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Additional loan programs may be available. 5/1 Adjustable Rate Program details. Payment example: A $150,000 loan would have 60 monthly payments of $716.12, followed by 299 monthly payments of $763.76, and a final payment of $766.21. Payment amounts do not include amounts for taxes and insurance premiums, and the actual payment obligation may be greater. After the initial fixed rate period based on the initial interest rate and interest rate caps contained in this program, the maximum first adjusted rate for this loan will never be more than 6.00%, with a maximum first payment of $874. The maximum lifetime rate will never be more than 10.00% with an estimated monthly payment of $1,218