Real Estate Loans

Simplifying Your Experience From Home Loan Pre-Approval to Closing

State Savings Bank understands that investing in a home or investment property is one of the most important financial decisions you’ll make. Whether purchasing a new home or refinancing an existing property, our expert loan officers will guide you through every step of the process, ensuring a smooth, hassle-free experience. With competitive rates, flexible terms, and a commitment to local service, we’re here to help you find the right loan for your situation.

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

Investment Property Loans

Are you interested in buying an investment property? We offer real estate financing solutions designed specifically for investors. SSB provides competitive mortgage rates and flexible terms to help you finance your rental properties, multi-family units, and other investment properties.

Refinance Loans

Refinancing your mortgage can be a smart option if you're looking to lower your monthly payments or access your home's equity. We offer several refinance real estate loans, helping you secure better rates and terms.

Jumbo Loans

We are one of the few lenders in the Des Moines metro area offering Jumbo loans, a specialty home loan for customers who want to borrow over $806,500. We finance new home purchases requiring Jumbo loans and refinance existing Jumbo loans for those seeking lower payments, more favorable terms, making home improvements, or taking cash out for other purposes. Call today to find out more about Jumbo loan rates. 

A Local Bank With Big Bank Advantages

• Local Expertise: Our Iowa loan officers are here to help you navigate the real estate loan process, offering personalized service and expert guidance.
• Competitive Rates: We provide highly competitive mortgage rates to help you secure an excellent deal on your loan.
• Flexible Financing: If you’re buying a home or investment property, refinancing, or tapping into your home’s equity, we have loan options that fit your needs.
• Hassle-Free Process: Our loan officers work with you every step of the way, making the loan application process as simple as possible.

Reconsideration of Value

A reconsideration of value (ROV) is a request to reevaluate a property's appraisal based on new information that may not have been considered during the original appraisal. If you would like to raise any concerns about the property appraisal or collateral evaluation performed during the application process, please provide details which support your basis for this ROV request.

Reconsideration of Value Request Form

Please email the form to: LoanProcessing@ssb.bank  If the form provides insufficient space, feel free to include additional information in your email or a separate word document. the more information you provide, the better we will be able to address your concerns. Should you have any questions about how to complete the form, contact LoanProcessing@ssb.bank or your loan officer.

Real Estate Loan FAQs

What is the difference between a fixed-rate mortgage and an adjustable-rate mortgage?
A fixed-rate mortgage has a set interest rate for the life of the loan, ensuring your payments stay the same. An adjustable-rate mortgage (ARM), on the other hand, has an interest rate that may change over time, typically offering a lower initial rate that adjusts after a few years.

Can I use a personal loan for real estate?
A personal loan is typically unsecured, meaning it doesn’t use your property as collateral. For real estate financing, a mortgage loan is preferred because it uses the property as security, offering more favorable terms and lower interest rates.

What is a jumbo loan?
A jumbo loan is a mortgage that exceeds the limits set by the Federal Housing Finance Agency (FHFA). It’s used for high-value homes and typically comes with stricter requirements. At State Savings Bank, we offer jumbo loans for customers looking to finance homes that go beyond conventional loan limits.

How do I get pre-approved for a real estate loan?
Getting pre-approved is the first step in the home-buying process. During pre-approval, we’ll review your credit, income, and assets to determine how much you can afford to borrow. This helps you understand your budget and shows sellers you are a serious buyer.

How long does it take to buy a house?
The home-buying process can take anywhere from 2 to 3 months, depending on factors like market conditions and the type of mortgage loan you’re applying for. This includes finding the right home, making an offer, and completing the necessary paperwork and inspections.

Is interest paid on a home equity loan tax deductible?
Depending on how the loan is used, interest on a home equity loan or HELOC may be tax-deductible.

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, the 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, the 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.

 Please consult with a tax professional for more details.

What do lenders look at when I apply for a mortgage?
When applying for a mortgage, lenders typically evaluate your credit score, debt-to-income ratio, employment history, and savings. We also look at your down payment, the value of the property, and your payment history to determine your eligibility for a real estate loan.

What is the typical length of a mortgage?
The average mortgage length is 30 years, but many homeowners choose to refinance or move before this term is up. Shorter loan terms may also be available if you prefer to pay off your loan faster.

Let Us Help You Take That Next Big Step!

Are you ready to get started? Call us today at State Savings Bank to speak with one of our experienced loan officers. We’ll help you find the best real estate loan for your home or investment property and guide you through the process. No matter if you're purchasing your first home, refinancing, or buying an investment property, we’re here to make the experience as easy and stress-free as possible.

Financial Calculators