Unlocking Dreams for Over a Century: Our Mortgage Expertise, Your Future

Purchasing or refinancing a home is a significant event, and understanding how to finance such a considerable investment can be daunting! Fortunately, we’ve assisted countless families in the mortgage process.

Here at Home State Mortgage, we’re committed to helping you understanding the various financing options available and guiding you towards an optimal mortgage plan.

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The Most Affordable Most Flexible Most Effective Mortgage

Home State’s Mortgage Experts will guide you to the most effective program for your needs. We offer all of the leading programs.

CONVENTIONAL

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Conventional mortgages are widely used for purchasing primary residences, second homes, or investment properties. They offer borrowers flexibility in terms of loan terms and repayment options. Additionally, once a borrower builds enough equity in their home, they may be able to eliminate private mortgage insurance (PMI), reducing their monthly payments.

FHA

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FHA assists first-time home buyers and others who might not be able to meet down payment requirements for conventional loans by providing mortgage insurance to private lenders. Anyone, who has a satisfactory credit record, enough cash to close the loan, and sufficient steady income to make monthly mortgage payments can be approved for an FHA-insured mortgage. 

VA LOAN

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A VA loan, also known as a Veterans Affairs loan, is a type of mortgage loan available to eligible veterans, active-duty service members, and select military spouses. One of the key benefits of a VA loan is that it often allows for more favorable terms and conditions compared to traditional mortgages. These loans typically offer competitive interest rates, require little to no down payment, and may not necessitate private mortgage insurance.

ADJUSTABLE RATE

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Increasingly popular, ARMS — 3/1, 5/1 or 7/1 — can offer the best of both worlds: lower interest rates and a fixed payment for a predetermined period of time. For example, a “5/1 loan” has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on the-current rates for the remaining 25 years. It is a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

30 YEAR FIXED

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The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer.

15 YEAR FIXED

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This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate – and you’ll pay off your loan twice as fast.

IHDA

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The Illinois Housing Development Authority (IHDA) offers a range of programs to help individuals and families achieve homeownership, primarily through down payment assistance and affordable loan options.

WHEDA

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The Wisconsin Housing and Economic Development Authority (WHEDA) offers a variety of programs designed to make homeownership more accessible for Wisconsin residents, particularly first-time homebuyers and low- to moderate-income individuals.

DPP

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The Downpayment Plus® (DPP) Program is a valuable resource for low- to moderate-income homebuyers looking to overcome the financial hurdle of purchasing a home.

Community LTV

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This program allows eligible borrowers to secure a mortgage with higher loan-to-value (LTV) ratios than traditional mortgage products, meaning buyers can finance a larger portion of the home’s purchase price.

  • Home State did a great job of assisting us on the finance end of our search for a new home. Once the offer was made and the ball was rolling all staff contacts with Home State Bank were pleasant, professional, and timely. Would highly recommend them.
    Hurley W.
  • Working with Home State was easy. Very knowledgeable and explained every step taken on the way to purchasing our new home. I would highly recommend working with them.
    Jorge S.
  • My wife and I just completed a re-finance on our second home in Florida. Home State was awesome to work with, which did not surprise us since we have handled several mortgages for us in the past at HSB, always with great enthusiasm, professionalism, and communication. Excellence in action.
    Cliff J.