Home Buying

Whether you’re a first-time homebuyer or a seasoned homeowner, you’ll find every type of home loan program, each with its own distinct advantages. We’ll help you secure the home loan that fits your budget.

Suitable for borrowers with good to excellent credit scores, conventional loans offer a variety of benefits:

• Fixed-rate or adjustable-rate mortgage terms
• Down payments as low as 3%
• 20% down payment to avoid private mortgage insurance (PMI)
• Loan limits as high as $766,550

Are you a first-time homebuyer? Depending on your credit score, an FHA loan may be a better option for you. FHA loans allow:

• Lower down payments
• Lower credit scores than many conventional loans

If you’re active military, a veteran, or a surviving spouse of a veteran (as defined by the VA), a VA loan offers two key advantages:

• No down payment
• No private mortgage insurance

Do you need a loan amount that exceeds conventional loan maximums set by the Federal Housing Finance Agency (FHFA)? Ask about our jumbo loan option.

Construction loans let you borrow money to pay for the cost of building your home. Once the home is complete and you move in, your construction loan converts to a permanent mortgage.

Got your eye on a parcel of land but not quite ready to build? A lot loan lets you borrow money strictly for the land purchase.

Whether it’s a vacation home on the lake or a cabin in the woods, you’ll find second home loans that fit your financial goals, including low down payment options.

Buying a home is a complex process that involves dozens of decisions. It’s also one of the largest purchases you may ever make. At First State Bank of St. Charles, our mortgage lenders are here to guide you every step of the way and answer common questions like:

• What are your rates?
• Do I have good credit?
• What will the down payment be?
• Can I buy a house with no money down?
• What is private mortgage insurance?
• How much will the closing costs be?
• How soon can we close?