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FHA Loans Mortgages

Tired of renting?

Owning your own home may be easier than you think. The FHA (Federal Housing Administration) provides insurance on single-family and multi-family residential mortgages made by FHA-approved lenders like First State Bank. FHA loans offer low down payments with no income qualifications:

  • As low as 3.5% down payment (may be a gift; consult your tax advisor)1
  • FICO scores of 600 or more are eligible
  • No income limits 
  • Owner occupied home
  • Loan maximum amount restrictions apply
  • Mortgage insurance is required with an upfront mortgage insurance premium
  • Bankruptcy discharged for at least 2 years
  • Foreclosure - at least 3 years from the date the deed was transferred

Learn more about our mortgages

First State Bank offers many mortgage programs for which you may be eligible.

1All loans subject to credit approval. Your rate may be dependent on your credit score, loan amount, loan to value and debt ratio. For example, a purchase price of $100,000 with 3% down, loan amount of $97,000 at 5.000% rate with a 5.109%. Annual Percentage Rate results in 360 fixed monthly payments (principal and interest) of $520.72. Payment does not include taxes or insurance. This is an example only. Actual loan payment and APR will vary based on the loan amount, the term, insurance and any fees.

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