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We at First State Bank Southwest try to make all of your experiences with our bank wonderful; which is why we give you the capability of taking your real estate loan APPLICATION ONLINE! We also offer FREE pre-qualifications to qualified borrowers. The questions are straight forward, and if you have 10 minutes right now you may be able to get it all done! We make buying or refinancing as easy for you as can be!
CLICK HERE TO APPLY ONLINE and get the process started!! Once you have submitted your application, one of our Mortgage Lending Experts will be in touch with you to keep this process running smoothly!
Your
home is one of life's biggest investments. First State Bank Southwest
can find you the right mortgage solution. We offer a wide selection
of mortgage products when you are buying, building, remodeling or
refinancing your home.
First State Bank Southwest is proud to offer our customers the
following Mortgage Loans:
We also offer free pre-approval
to qualified customers!
Fixed Rate Mortgages
First State Bank Southwest offers long term fixed rate mortgages.
- Down payment as low as 5% on the purchase
of your primary residence
- Monthly principal and interest payments are
fixed
- Interest rate will not increase
- No penalty for early payoff
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Adjustable Rate
Mortgages
Known as an ARM, this is a mortgage loan with a variable
interest rate. The rate is subject to change on a regular schedule
known as the anniversary date.
- The initial rate on your loan is lower than
a long term fixed rate conventional loan
- If you plan to move in a few years, there's
an added appeal of paying less now and not to worry about it when
the rate adjusts
- No prepayment penalty
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Rural Development Loans
100% financing is available with
no down payment.
- Borrower's adjusted household income cannot
exceed the county's established moderate income limits
- Home must be used as a primary residence and
located in a rural area or rural community
- No prepayment penalty
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Minnesota Housing Finance
Agency
This is a wonderful advantage for the "first time" home
buyer in Minnesota. The MHFA First Time Home Buyer Program offers
fixed rate mortgages.
- Attractive fixed interest rate
- Closing costs may be borrowed at 0%
- Household income must not exceed MHFA's required
income
- No prepayment penalty
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CONSTRUCTION
LOANS
Building the home of your dreams? First State Bank Southwest can
help. We offer Construction Loans that are designed to fit your
specific needs. The construction line of credit allows you to draw
on the loan as your home progresses. When the home is completed,
you will enjoy a smooth transition into permanent financing.
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HOME
EQUITY LOANS
Home Equity is the value of your home minus what you owe. This
"equity" can be used to remodel your home, take a vacation,
pay college tuition, buy a new automobile…the Home Equity Line
of Credit can help you do it all.
- Tax deductible interest*
- Competitive low rates
- Easy minimum monthly payment
- Convenient access-just contact First State
Bank Southwest to transfer from your credit line to your checking
account
- Line of Credit checks
* consult your tax adviser for deductibility
of interest
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