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.

  • Fixed rate and payment for the life of the loan (up to 15 years)
  • Borrow up to 85% of your home’s value
  • No application fee, closing costs, annual fee or pre-payment penalty
Term in Months Rates as low as (1st Lien):** Rates as low as (2nd Lien):**
Up to 180 9.49% 11.25%

Rates current as of: July 17, 2024

Annual fee: $0; Minimum loan amount of $10,000

Rates listed require automatic payment from a First State Bank account, otherwise rates are .50% higher.

** Lowest annual percentage rate assumes the loan secured by single family home, loan to value of 85% for first lien position.: debt to income ratio of 43% or less; excellent credit history; maximum loan term; 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 first lien position loan for $25,000 under these assumptions would result in a $261.96 monthly payment: a property tax fee of $90.00 and underwriting fee of $150.00 is required at closing.

A second lien position loan of $25,000 under these assumptions would result in a $289.28 monthly payment; a property tax service fee of $90.00 and underwriting fee of $150.00 is required at closing. First mortgage lien positions require an escrow for taxes and insurance. Home Equity rates may change daily. Property insurance required, flood insurance may be required. 
All lending products are subject to application and credit approval. Home equity loans and lines also subject to acceptable appraisal and title search.

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.

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