Mortgage Lending Products

Mortgage Loan Products

Let First State Bank help you find the right type of mortgage for your need. Contact our customer service specialist to discover the details of each mortgage type. Below is a brief description of each product:

Fixed-Rate Conventional

With many options and competitive interest rates, a conventional home mortgage loan could be just what you need. Whether you are making a purchase, constructing a new home, refinancing your current home, or purchasing an investment property, you can choose a competitive fixed rate or interest-only loan.

First-Time Homebuyers

First-time homebuyer loans can make home ownership easier. Featuring a no down payment option, a First-Time Homebuyer loan puts your “American dream” right around the corner. Some limitations apply.

VA Loans

Veterans Assistance loans offer low fixed or adjustable interest rates and are available to veterans and active-duty members of the U.S. Armed Forces.

FHA Loans

Federal Housing Administration loans require a minimal down payment and offer more flexible qualifying guidelines. They can be used for a purchase or to refinance an existing home.

Adjustable Rate Mortgage

Offered on both conforming and non-conforming properties, an Adjustable Rate Mortgage (or ARM) generally has a lower initial start rate, which can increase when the cap period has expired. ARMs are usually done in 3/1, 5/1, 7/1 or 10/1 adjustment periods. The ARM rate is usually tied to the Treasury or LIBOR indexes.

Construction / Permanent

This loan is perfect for owner-financed construction of a new home.

USDA Rural Housing Loans

United States Department of Agriculture loans require no down payment for homes in a qualifying location and are ideal for first-time homebuyers. Some limitations apply.

Specialized Loan Programs

These loans are tailored to meet specific needs, such as in cases where a larger loan amount is needed (Jumbo loans).

Note: Additional insurance may be needed. All loans are subject to credit approval.

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