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Home loans for North Central Iowa
Whether you’re a first-time homebuyer or a seasoned homeowner looking for a new place, you’ll find the confidence you need to maneuver the homebuying process with ease at First Security Bank.
Our lending experts are there to walk you through the process, each step of the way. Eliminate stress and enjoy making your new house a home. We have a variety of mortgage options to meet your needs.
Benefits of our mortgages include:
- Local underwriting and processing
- Experienced retail lenders
- One-on-one service
- Streamlined application process
Fixed-rate mortgages
By having a fixed-rate loan, you don’t have to worry about rates or payments changing. The rate is locked in for the duration of the loan.
- Multiple loan terms to suit your needs
- Fixed rate through the life of the loan
- Lower down payment
Adjustable-rate mortgages
If you know you’ll be moving within the next few years, an adjustable-rate mortgage (ARM) may be the answer for you. This rate is fixed for 5 years and then will adjust with the market each year thereafter. The rate cannot change by more than 2% per year, or 6% over the life of the loan.
- Multiple loan terms to suit your needs
- Fixed for 5 years, then variable annually
- Higher down payment
Guaranteed rural housing
We are an approved lender for this special USDA financing program, which assists borrowers who meet income guidelines and are not eligible for conventional financing.
- No down payment
- Flexible mortgage insurance requirements
- Escrow required for taxes, insurance and annual fee