OUR LOAN PROGRAMS

Let us help you find the perfect loan product.

 

Personal      

Home Mortgage

Ozarks Federal offers many different types of home mortgage loans.  Whether you are looking to purchase a new home or refinance an existing property, Ozarks Federal has a loan program for you.  We offer mortgage loan products on primary residence, second homes and investment properties.  Our lending decisions are made locally and your loan will be serviced locally by Ozarks Federal.  You can visit one of our local branches or apply online today on our Consumer Connect mortgage information site. 

                                   

Construction Loans

Ozarks Federal’s One-Timer Construction Loan is a one-time close, which means you pay interest only on funds outstanding during the construction period.  Once the home is complete and your 12 month construction period ends, your loan automatically converts to permanent financing with principal and interest payments.  This saves you time and money with no refinancing fees or new application process.      

             

Home Equity Loans

The equity in your home is a valuable asset. These loans can be used to finance home improvements, make major purchases, or consolidate debt.  You can choose from a short term fixed rate loan, longer adjustable rate loan, or a revolving line of credit. 

  

Home Equity Line of Credit Loan

A line of credit allows you to use the equity in your home as cash.  With a home equity line of credit you have funds available to use whenever you need.   Ozarks Federal’s home equity line of credit is a low rate alternative to credit cards.  The rate is based off of today’s prime rate.  There has never been a better time to take advantage of the equity in your home.

 

Bridge Loans 

A bridge loan allows you to purchase a new home while using the equity in your current home as your down payment.  A bridge loan gives you the ability to act now and secure that new home in a competitive housing market.  You do not have to wait to sell your home to purchase your new home.   Ozark Federal offers a one-time close and interest only up to 12 months while you work on the sale of your current home.  Once you sell your old home, we can pay down your loan with proceeds from the sale of your old home and re- amortize your loan on an affordable payment for you in your new home.

 

Land/Lot Loans

Ozarks Federal offers loans for land purchases to build a new home on.  You can use your land loan in conjunction with Ozarks Federal’s One-timer construction loan to save time and money.  We also offer loans on land for recreational and investment purposes.  We offer longer term amortizations to reduce your payments.                 

                                      

USDA, FHA, VA Loans

Ozarks Federal offers the traditional government loan products.  These products offer low money down alternatives, with 100% financing options for veterans and borrowers in rural areas.

 

Community Loan Programs

This is a unique program designed for skilled essential workers and professionals in our communities.  The program offers these individuals low to no money down home loans.  This program is available for two categories of eligible borrowers.

Community Heroes:

Any employee of one of these organizations:

• Public or private educational institution.

• Fire Department.

• Police Department.

• Nurses (all designations, including a certified nursing assistant [CNA]).

• Emergency Medical Technicians (EMTs) and Paramedics.

• Active or former military personnel can qualify

•   Down payment as low as 1%, gifts are eligible

 Community Experts:

• Certified public accountants (CPAs)

• Chartered financial analysts (CFAs)

• Ph.D.’s

• Architects

• Certified Mortgage Bankers and Designated Actuaries.
   

• 0 percent down payment

 

Medical Professionals Loan Program

Medical and Dental Professionals.  This new program allows professionals from the Medical and Dental field to obtain home loan financing with as little as 0-3% down payment.

The program gives Medical and Dental Professionals the ability to obtain financing up to 90 days before their contract start date of a new job.  The program also allows for exemptions on student loan debt, helping more to qualify.

Borrowers who are currently practicing (or who will begin practicing within 90 days of closing) one of the eligible professions below and meet all program requirements are eligible

- Medical resident.   - Medical fellow.   - Medical doctor (MD). 

- Doctor of Dental Surgery (DDS).   - Doctor of Dental Medicine (DMD). 

- Doctor of Optometry (OD).   - Doctor of Ophthalmology (MD). 

- Doctor of Podiatric Medicine (DPM).   - Doctor of Osteopathy (DO). 

- Pharmacist (RPh).*   - Chiropractor (DC)**. 

- Doctor of Veterinarian Medicine (DVM).

* A pharmacist must have a PharmD to be eligible for LTVs > 97%.

** Chiropractors are ineligible for LTVs > 97%.

 

  

Business      

Investment Properties

Ozarks Federal offers investment property loans for residential and nonresidential real estate investors.   Our investment property loans offer flexible terms.  We offer purchase, refinance and cash out loans.   

  

Lines of Credit

Ozarks Federal offers Lines of Credit for commercial use.  These are real estate secured lines of credit.  Use the equity in your building to help with business cash flow or for other business investment needs, such as equipment or even purchasing additional investment properties.   Use the line as needed and only pay interest on the outstanding balance.

    

Construction Loans

Ozarks Federal commercial construction loan can be used by contractors to build spec homes or owners of investment properties who are looking to build or add on to existing structures.  Our Commercial Construction loan provides the same great benefits of our Residential Construction Program by handling the disbursing of your funds and saving you money.

 

Mortgage Loan Resources

 

Apply Now

Click on any button throughout this site to apply for a mortgage loan today with Ozarks Federal Savings and Loan

 

Consumer Connect

Consumer Connect is Ozarks Federal’s mortgage learning site and mortgage application portal.  This site has additional information about applying for a mortgage loan and helpful tools to help with your home buying decisions.  There is also information about our Loan Officers and more.  You can apply for a mortgage loan here and your loan application will be submitted to your Loan Officer.  The portal offers borrowers the ability to safely and securely submit and receive loan documentation.  

 

Know Your Credit

 

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