Mortgages at The State Bank No matter what your mortgage need, working with The State Bank gives you a powerful home-buying partnership. Our mortgage experts are just that – the best partner to help you get into your home fast. No matter what your situation, our team will work with you to select a mortgage solution that fits your exact needs.
Specialized Mortgage Solutions
The mortgage team at The State Bank offers solutions to meet just about any home-buyer needs - from construction and bridge loans, to more traditional mortgages. If you're not sure what solution is best for you, just reach out to any one of our mortgage experts and they will help you find the perfect solution for you.
Fixed Rate Mortgage
This type of loan is one of the most popular mortgage loans that home buyers choose. Your interest stays the same for the life of the loan and provides a consistent payment amount month-to-month.
- Predictable monthly payments for the life of the loan
- Single family loan amounts up to $484,350
Adjustable Rate Mortgage
Also referred to as a variable-rate mortgage, this loan has an interest rate that is periodically adjusted based on current credit markets. These mortgages are intended for those who want to initially lower their payments to assume the risk of interest rate changes.
- Potential lower initial payments versus fixed rate loan options
- Rate set for predetermined time, then resets with new rate
- May be ideal if you’re living in home for short period
These mortgage loans are for real estate that are above conventional conforming loan limits. Jumbo mortgages are ideal for those who are looking to purchase luxury homes and The State Bank works with you to ensure that the mortgage meets your individual needs.
- Home loans for mortgages over $453,100
- Fixed or adjustable rate
Investment Property Loans
The State Bank offers these loans for those who are interested in purchasing a second home and investment properties. Our team will work with you to help you choose the type of mortgage loan that fits your unique investment needs.
- Fixed or adjustable rates available
Also known as a residential construction loan, this mortgage loan funds the building of a new home or residence. The loan is closed for the total loan amount and funds are paid over the period in which the home or residence is complete.
- Available for the construction of your primary residence
- Fixed and adjustable rates available
Ready to apply? Choose any mortgage lender to begin your online application.
*Subject to credit approval. Property insurance required.
First Time Buyer
There are many details to be considered when buying your first home including location, home size, number of bathrooms, the list goes on. It is also one of the largest investments that we make, and perhaps the number one source of wealth-building for families. There are many additional benefits to owning a home, such as:
- Building of equity
- Tax benefits
At The State Bank, we understand that buying a home can be an overwhelming and confusing process. That’s why our mortgage team takes the time to walk you through the entire process, ensuring that you are making the best financial decision.
Let's get started! Apply by selecting any mortgage lenders name below:
Earn Up to $2,500 Toward Your Down Payment or Closing Costs!
Do you want to buy a home but find yourself short of funds for the down payment or closing costs? The most common barrier to homeownership today is saving enough money for a mortgage down payment.
With MatchUp℠, an All For Home℠ solution, The State Bank will help you automate a mortgage savings plan to keep you on a steady savings path toward purchasing your new home, provide access to HUD-approved homebuyer counseling*, and establish a savings match up to $2,500 to be used toward down payment or closing costs.
The MatchUp Journey
- After you complete an eligibility assessment and are approved for the program**, you’ll have access to the MatchUp online platform to set up your automated savings plan.
- Establish Program Eligibility: Available to households whose total gross qualifying income is less than or equal to 80% of the county area median income (AMI).
- Homebuyer Counseling: HUD-certified counselors offer expertise and insights to help you establish your savings goal and develop a budget to get you mortgage ready.
- Manage Your Savings Plan: Make consecutive deposits into a free, online savings account for a minimum of six (6) months.
- Purchase Your New Home: Bring your accumulated savings to The State Bank at the time of closing.
Let's get started! Apply by selecting any mortgage lenders name below or learn more here:
*Homebuyer counseling is required. Borrower is responsible for the $99 homebuyer counseling fee.
** Borrower(s) whose qualifying income is less than or equal to 80% of county AMI can take advantage of this program. Funds can be used towards your down payment or closing costs. Subject to credit approval. Property insurance required.
*** Offered in Michigan