Residential Loans

We will be happy to provide assistance when you need a loan for any purpose.  You will benefit from having a loan that is tailored to your needs and your budget, which is what you get with our personalized service.  Because we are a locally owned bank, you will have the convenience of quick approval of your loan request.  In most instances, we can give you an answer within twenty-four hours of the request.

Do you need financing for a new home, second home, vacation home, or retirement home?

Maybe you want to lower your monthly mortgage payment by refinancing. Farmers State Bank has that perfect loan product to meet your needs!

Contact a loan officer today at a location nearest you to find out which product best suits you!

Fixed Rate

You can get a 15, 20, or 30 year long-term fixed rate residential mortgage with Farmers State Bank. You'll be assured that your payment will be the same throughout the term of your loan. Farmers State Bank services the loan right here at home for your convenience! You'll never make a payment to someone you don't know!

Balloon

If you are wanting a competitive rate but only for a short period of time, a balloon loan might fit your needs.  Farmers State Bank offers competitive rates with flexible amortization periods ranging from 10 to 30 years.  The loan amount is spread out over a period of time longer than the term of the loan to decrease monthly payments. At the end of the loan term, the final payment is called a "balloon payment" which consists of the remaining principal.

Adjustable Rate Mortgage

If you are wanting an attractive rate on a mortgage loan that will adjust periodically to current market rates based on our flexible amortization period, an ARM loan might be what you are after!

Home Equity Lines of Credit

If you own your own home, your best source of money is right under your own roof. Farmers State Bank's Home Equity loan is a revolving line of credit secured by the equity in your home. Interest may be tax deductible (consult your tax advisor). You can use the money for any purpose such as taking a vacation, paying for your child's education, consolidate debt, or remodeling your home. Your options are endless!

Home Improvement Loans

Does your house need new siding and windows, a fresh coat of paint, or maybe the air conditioner or furnace needs to be replaced? Farmers State Bank offers intermediate and long-term loans to get you "fixed-up!"

Construction Loans

Ready to build your dream home? With a construction loan you'll have the money available when your contractor needs it. When your home is completed, we can establish permanent financing based upon prior approval.

Refinancing

You might be able to lower your monthly payments or reduce the amount of time to pay off your current mortgage by refinancing your home with Farmers State Bank.

Guaranteed Rural Housing Program

100% financing may be available upon approval for those 1st time home buyers. The USDA Rural Development Loan is a great program for those who have a home they want but do not have the down payment.