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Mortgage Loans

At First State Bank & Trust Company, we know that decisions about purchasing a home, refinancing, or borrowing against the equity in your home should be considered carefully. We offer a wide range of mortgage loan products to meet our customers' needs from the First Time Homebuyer to building your dream home. Maybe you are looking to refinance to a better rate or term. Our lenders are here to answer your questions about home ownership because we want you to feel confident about the decisions you make. See us today for a Free Loan Pre-qualification. Contact Us today!

Conventional Fixed-Rate Mortgages

• We offer up to 100% financing for long-term USDA or VA Government Loan Programs and no mortgage insurance. Currently, we can offer 97% Conventional Fixed Rate Mortgages with only 3% down payment. Mortgage insurance will be required on Conventional Loans without 20% down payment. We have also reintroduced the FHA loan as an  option. We can deliver financing options that will allow you to benefit from flexible terms and competitive rates. Print and fill out an Application / Aplicacción en Español or Contact Us today!

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Construction Loan

• Perhaps you haven't been able to find that perfect home and your solution is to start from scratch. We can build a Construction Loan specifically for you. As with all of our mortgage products, we offer competitive rates and flexible terms. Print and fill out an Application / Aplicacción en Español or Contact Us today!

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NIFA/Freddie Home Possible Loans

• With the NIFA My Community Mortgage or the Freddie Home Possible Loans you may finance up to 97% of your purchase and up to 103% Combined Loan to Value with the assistance of a grant or community second mortgage. Reduced rate mortgage insurance is available for this type of loan. Print and fill out an Application / Aplicacción en Español or Contact Us today!

No Documentation/Stated Income Loan

• This loan is currently NOT AVAILABLE

New Lender Paid Mortgage Insurance Loan

• Want to avoid paying the Private Mortgage Insurance (PMI)? Check out the New Lender Paid Mortgage Insurance Loan. You can choose to pay the fee up front or have it calculated into your loan rate.  Print and fill out an Application / Aplicacción en Español or Contact Us today!

Bridge Loan

• Thinking of buying or building a bigger home? With enough equity in your present home, the Bridge Loan allows you to use that equity as your down payment towards the purchase of your new home. Print and fill out an Application / Aplicacción en Español or Contact Us today!

Refinancing

•  Looking for a lower interest rate? Need to use the equity in your home for a major expense? Want to shorten the length of your loan and build equity faster? Print and fill out an Application / Aplicacción en Español or Contact Us today!

Home Equity Loan

•  The equity that you've built in your home is often an overlooked asset. You can use this equity to borrow money for virtually any type of expense or investment. You may wish to have a set-term loan with equal payments or you may prefer the flexibility of a line of credit that is available at any time. Contact Us with any questions or print and fill out an Application / Aplicacción en Español.

Reverse Mortgage Loan

•  A "Reverse" Mortgage is a loan against your home that you do not have to pay back for as long as you live there. To be eligible for most Reverse Mortgages, you must own your home and be 62 years of age or older. With a Reverse Mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month. No matter how this loan is paid out to you, you typically don't have to pay anything back until you sell your home, permanently move out of your home or die. Contact Us today!

Grants

• Grants -
  • You may be eligible for a grant through the Federal Home Loan Bank if you are a first time homebuyer. This grant allows you to qualify for up to $4000.00 at zero percent interest and no payment. This grant is forgiven if you reside in your residence of purchase for 5 years.
  • Or you may qualify for the NIFA (HBA) Home Buyer Assistance Grant. This grant is forgiven if you reside in your residence of purchase for 11 years.

To see if you qualify for either of these grants or others, Contact Us!