Program Summary: This Purchase Only provides for a first mortgage of 95% of the value of the home, and a deferred payment second mortgage of 5%. Term: 30 Year term on both 1st and 2nd mortgages CalSTRS Interest Rates: Check Today’s Rates Here Conforming Loan Amount: Up to $417,000 (Up to $438,947 - 1st & 2nd combined) Non Conforming 1st Loan Amount: Up to $617,500 (Up to $650,000 1st & 2nd combined) Max Loan to Value (LTV) - 1st: 95% Max Loan to Value (LTV) - 2nd: 5% Loan officers at a bank or a credit union are employees working to sell and process mortgages and loans for mortgage customers or home buyers like you. Their loan types and mortgage products have several varieties but they all come from one specific originator, their employers.
