Home Equity Loans

You don’t have to go through another season with those drafty windows. When you’re looking to make some upgrades on your home, or you’re planning a large one-time purchase, look to the stability of a home equity loan to finance your dreams.

With convenient payment options and the dependability of fixed monthly payments, a home equity loan is the first step in making improvements – in your home or your future.

Features
  • Fixed rate and payment for the life of the loan (up to five years)
  • May be tax deductible*
  • Borrow up to 85% of your home’s value
  • No application fee, closing costs, annual fee or pre-payment penalty
Rates
  • 0.25% rate discount with autopay from a First State Bank account
Term in Months Annual Percentage Rates as low as:**
Up to 60 6.25%

Rates current as of: February 22, 2017

Annual fee: $0

Rates listed require automatic payment from a First State Bank account, otherwise rates are .25% higher.

*Consult your tax advisor regarding tax deductibility

**Lowest annual percentage rate assumes the loan secured by single family home, loan-to-value ratio of 85%; debt-to-income ratio of 43% or less; excellent credit history; maximum loan term; automatic payment from a FSB account; payments do not include amount for taxes or insurance premiums, if applicable, and actual payment may be greater and will vary based upon individual situations and current rates. A $25,000 principal and interest loan under these assumptions would result in a $486.21 monthly payment. A property tax service fee of $75.00 is required at closing. First Mortgage lien positions may require an escrow for taxes and insurance.  Property insurance required, flood insurance may be required.

Subject to credit approval and satisfactory appraisal or evaluation from a qualified appraiser.

Fair Lending:
The Federal Fair Lending laws, (Fair Housing Act, Equal Credit Opportunity Act, Community Reinvestment Act, and the Home Mortgage Disclosure Act), prohibit discrimination in credit transactions. In accordance with the these laws, First State Bank promotes fair housing choice and does not discriminate against any person on the basis of race or color, religion, national origin, sex, marital status, age, lawful source of income, familiar status, handicap, disability, sexual orientation or gender identity.

SAFE Act:
The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) is a federal law designed to enhance consumer protection and reduce fraud in the mortgage lending industry. The SAFE Act requires that all individual mortgage loan originators or MLOs be registered with the Nationwide Mortgage Licensing System and Registry, or NMLS.

NMLS # 462643