Farmers State Bank prides itself on being independently and locally owned. Our local operation enables us to provide expedient and creative financing programs. We have a wide variety of competitive fixed and adjustable rate loan programs, and our real estate loans can be designed to fit your needs. We look forward to helping you with your home financing needs.
|Name||Title||NMLS ID#||Office||APPLY FOR YOUR MORTGAGE|
|Polianna Benedict||Loan Officer||MLO# 1463841||Marion East||APPLY NOW with Poli|
|Steve Cook||Community Bank President||MLO# 438438||Marion West||APPLY NOW with Steve|
|Brad Henshaw||Senior Vice President||MLO# 438437||Harrisburg||APPLY NOW with Brad|
|Tom Jones||Community Bank President||MLO# 438436||Alto Pass||APPLY NOW with Tom|
|Brad Stokich||Mortgage Loan Originator||MLO# 438434||Marion East||APPLY NOW with Brad|
|Christina Watson||Assistant Vice President||MLO# 1455208||Harrisburg||APPLY NOW with Tina|
|Katie Zanotti||Mortgage Loan Originator||MLO# 1535939||Marion East|
|Greg Taake||CEO||MLO# 438439||Harrisburg|
|Charles Holland||President||MLO# 585491||Harrisburg|
The fixed rate mortgage is the most common type of mortgage product. In addition to being simple, it provides the peace of mind of a set monthly payment (principal and interest) that do not change over the term of the loan. The loan balance is reduced monthly over the set term of the loan, and there is no prepayment penalty for making additional payments to principal. This is ideal for someone who wants the peace of mind of a set payment, regardless of fluctuations in the financial markets.
An adjustable rate mortgage allows the borrower to take advantage of short term rates, generally resulting in lower initial monthly payments than fixed-rate mortgages. The interest rate resets at the end of the term, usually resulting in a lower amount of principal to re-price, or refinance. This is ideal for someone who is interested in qualifying for a larger loan, lower payments, and the ability to save money in the short-term. Borrowers who are comfortable taking on risks or who feel their income will increase to cover possible payment increases often make this choice.
If you're building a home, a construction loan can be an ideal source of cash through the building process. Interest rates are competitive and closing costs are minimal. You won't pay any interest until the funds are used or drawn, giving you a convenient and affordable way to meet ongoing building expenses. And at Farmers State Bank, we can easily convert your construction loan into permanent financing once your house if ready to be occupied.
Refinance and Save!
When interest rates drop by at least 1.00% below your existing loan rate, it may be a money-saving SMART CHOICE to refinance your loan. Contact Farmers State Bank to help you determine if refinancing can help you.
Access your home's equity - you worked to build equity in your home; now let is work for you. At Farmers State Bank, we offer two product options: Home Equity Line of Credit and Home Equity Loan. You can use the money for home improvements, vacations, weddings, college, holiday buying, landscaping and much more.