Whether you’re looking to buy, build or refinance, State Bank is here to make your mortgage process quick and easy! How are we different from the big banks or mortgage companies? We start with a dedicated local mortgage team that’s always available to answer your questions whose goal is “no surprises” and a smooth process all the way to the closing table. Call us at 765-483-6397 when you’re ready to make your move, or start an application now.
Get a little extra time to find the perfect home with Lock-n-Shop
Our Lock-n-Shop pre-approval service locks in your mortgage interest rate for up to 90 days while you shop for your perfect home. And, if rates drop during the lock period, you may exercise a one-time option to lower your rate! It’s a great way to ensure you’re getting the best rate available for your new loan.
Buying? Refinancing? Let us help! With a conventional fixed-rate mortgage, you will maintain the same rate for the full term of your loan. We have terms ranging from 10 to 30 years based on your mortgage need. Let our mortgage team help you determine which term is best for your personal situation.
- Extremely competitive rates
- Rate never changes for the life of the loan
- Escrow for taxes and insurance required
- We service most loans in house
Adjustable Rate Mortgage
Our Adjustable Rate Mortgage (ARM) program can be used for a purchase, refinance, or cash out transaction. Your rate will not change during the initial fixed term, which ranges from seven to ten years; after which the rate may change. Following the fixed-rate period, you are protected with maximum rate adjustments at each rate change as well as the life of the loan.
- Initial fixed-rate period seven to ten years
- 7 and 10 year variable rate ARMs available
- Lower initial interest rates
Our Construction Loan Program is designed to help make the process of building your dream home an easy one. We offer one application, one approval, and one set of closing costs. We’ll even work with your builder/contractor during the six to twelve month construction period to make funds available as needed. And during that period, you’ll only pay the interest on the outstanding balance. What’s more, when your house is finished, your loan will simply convert to a conventional mortgage.
- Competitive fixed-rates
- Maximum loan-to-value of 90%
- Interest only payments during construction
- Six to twelve month draw period
- Builders welcome!
Not ready to build but found the perfect lot? With our lot loan program, you can buy the lot now and then finalize your plans for construction. Our five-year term provides you plenty of time to make plans to build the home of your dreams! Even better, State Bank will be ready to help with your construction loan when you are ready to build.
- To be used for potential building project within 5 years
- 20% down payment required, maximum loan-to-value of 80%
- 5 year balloon term; 15 year amortization
- Maximum 10 acres
All Loans are subject to credit approval. Ask your State Bank mortgage loan originator for details on rates and fees for mortgage loan options.