Skip Navigation Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view,download Adobe® Acrobat Reader.
First State Bank Southwest
Married couple picking out paint colors.

Home Mortgage

Buying a home is a major purchase. When you apply for a home mortgage loan at First State Bank Southwest, we make sure you feel right at home. You'll get personalized service, competitive rates and terms to keep your payments low. If you're in a hurry or can't come in, we also offer online loan applications so you can get started today.


  • Competitive interest rates
  • Fixed rate and adjustable rate mortgages (ARMs)
  • Various term options available
  • Low down payment
  • Free Pre-approval
  • No prepayment penalty
  • Experienced loan professionals
  • Local processing and underwriting
  • Personalized service
  • Easy to apply

We also offer:

  • Rural Development Loans
  • Minnesota Housing Finance Agency Loans
  • Construction Loans
  • Home Improvement Loans
  • Refinancing options

Fixed Rate Mortgages & ARMs

First State Bank Southwest offers fixed rate and adjustable rate mortgage options.

Fixed Rate Mortgages

With this loan option, your monthly principal and interest payments stay the same throughout the life of your mortgage. You can easily plan your budget and financial future because you always know exactly what your house payment will be.

Adjustable Rate Mortgages

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. With an ARM, your initial payments are lower than with a fixed rate loan, but go up after a certain amount of time. If you plan to move before that time, this option might appeal to you.

For more information on which might be right for you, feel free to contact us.

Special Options

There are many other mortgage options available to you. At First State Bank Southwest, we have partnered with these organizations to offer you more financing choices.

Rural Development Loans

  • 100% financing available
  • No down payment
  • Borrower's adjusted household income restrictions apply
  • Home must be used as a primary residence and located in a rural area
  • No prepayment penalty

Minnesota Housing Finance Agency

  • Attractive fixed interest rate
  • Closing costs may be borrowed at 0%
  • Income restrictions apply
  • No prepayment penalty


Construction worker at site.

Commercial Construction

Commercial Construction

We can help with financing 
buildings or pieces of land.


Woman doing paperwork in living room.

Home Equity Loans

Home Equity Loans

Convert your home’s equity
straight into cash.