BIG News: Jumbo loans Are Now Available

Have you ever tried to obtain a Jumbo loan and had trouble finding a source?  State Savings Bank is pleased to announce that we now offer Jumbo loans, a specialty home loan which few lenders in the Des Moines area offer.

Who qualifies?
A Jumbo loan is needed when a borrower needs to finance more than $424,100. If one or more of the following items describe your current situation, you may be a strong candidate for a new or refinanced Jumbo loan:
  • You're contemplating a new home purchase and will need to finance more than $424,100.
  • You currently have a fixed-rate mortgage with a balance greater than $424,100.
  • Your current interest rate is over 4.875%.
  • Your established equity is at least 20-30% of its appraised value.
  • You're looking for a source of funds to improve your home or for other purposes. 
What if I don’t need to borrow $424,100 or more?
We still offer conventional mortgage financing. We just wanted to get the word out that we now additionally offer Jumbo loans. We would be happy to help you with the best mortgage option for your circumstances.
If exploring the benefits of a new or refinanced home loan interests you, please contact your lender. With the probability of rising interest rates continuing, investigating this now may be a smart financial move!

Rising Interest Rates: 4 Things You Should Know

  1. On Wednesday, March 15, the Federal Reserve raised the federal funds interest rate by 0.25%.
  2. This hike impacts both prime rate and some loan rates, particularly consumer credit tied to the prime rate, such as variable rate credit cards, adjustable rate mortgages, HELOCs, and some types of student loans. A majority of business loans will also be affected.
  3. This is the first of three anticipated increases for 2017. Until now, the Federal Reserve had only increased this rate twice since 2008.
  4. If you have variable rate loans, or are anticipating new borrowing, we recommend speaking with your lender soon to see what impact this rising rate environment may have on your current situation and future plans.

Corporate Security Threats

We are seeing an increasing number of fraud attempts aimed at corporate customers. To combat this, we've put together an educational presentation and are available to present this to business owners or to their employees.

This information will include:

  • Security risk trends nationwide
  • What we see happening locally
  • What businesses can do to educate their employees
  • What businesses can do to protect themselves from ransomeware and e-mail compromise
To schedule or for more information, please contact: Cindy De Glopper | (515) 657-4004

Copyright © 2017 State Savings Bank, All rights reserved.

Baxter: 641-227-3161      West Des Moines: 515-457-9533

Our mailing address is:
State Savings Bank
4800 Mills Civic Parkway
Suite 100
West Des Moines, IA 50265

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State Savings Bank · 4800 Mills Civic Parkway · Suite 100 · West Des Moines, IA 50265 · USA

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