State Savings Bank
State Savings Bank State Savings Bank

Real Estate Loans

Investing in your home is one of the biggest financial decisions you will make. Our loan officers will guide you through the steps in both purchasing and refinancing your home for a hassle-free transaction. We’ll help you determine the right financing for your individual situation and offer competitive rates both on loans we service and on the national market.

Take a look at our loan products and call to speak to a loan officer today!

Adjustable Rate Mortgages

Call today to find out about our competitive adjustable rate mortgages serviced right here locally at State Savings Bank! Great rates for your home, investment property and much more!  Inquire with one of our loan officers to see if this loan product is for you.

Fixed Rate Mortgages

We offer competitive fixed rate mortgages and work to get you the best rate and lowest fees possible on your home mortgage! Pre-Qualifications, First Time Home Buyer’s programs when funds are available and many more products to get you the exact financing you need. Call today to get started on your refinance or purchase of your new home.

Home Equity Loans and Lines

Our low cost, competitive rate home equity products are perfect for buying a new car or even remodeling your home. Same-day approval is usually possible with a complete application, so call today to set up an appointment with one of our loan officers!

Did you know depending on what year you obtained your home equity loan or line of credit interest paid on the borrowed funds may be tax deductible? See IRS.gov for more information. 

Question

Is interest paid on a home equity loan or a home equity line of credit (HELOC) deductible?

Answer

It depends.

For tax years 2018 through 2025, if home equity loans or lines of credit secured by your main home or second home are used to buy, build, or substantially improve the residence, interest you pay on the borrowed funds is classified as home acquisition debt and may be deductible, subject to certain dollar limitations. However, interest on the same debt used to pay personal living expenses, such as credit card debts, is not deductible.

For tax years before 2018 and after 2025, for home equity loans or lines of credit secured by your main home or second home, interest you pay on the borrowed funds may be deductible, subject to certain dollar limitations, regardless of how you use the loan proceeds. For example, if you use a home equity loan or a line of credit to pay personal living expenses, such as credit card debts, you may be able to deduct the interest paid.

Jumbo Loans

We are one of the few lenders in the Des Moines metro area offering Jumbo loans, a specialty home loan for customers wishing to borrow amounts over $510,400. We finance new home purchases requiring Jumbo loans and refinance existing jumbo loans for those seeking to lower payments or term, make home improvements or take cash out for other purposes. Call today to find out more about Jumbo loan financing.  

Financial Calculators

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