At Union State Bank, we are happy to assist you with any financing or general banking questions that you may have as you work through the Home buying and selling process.
- New Home Purchase
- First-time Home Buyers
- 2nd Mortgages
- Refinancing
- Home Improvement
- Construction
- Home Equity Lines of Credit
With multiple branches throughout the South Central Kansas and Central Oklahoma region, our team of experienced mortgage lenders have been helping people achieve their home ownership goals for decades.
Apply online Now. It only takes a few minutes!
The Path to Home Ownership - What You Need to Know
Let us help you be prepared for the home ownership journey. It's important to know what should and shouldn't be done to make the loan process as easy as possible.
Conventional Financing
First time Home Buyers
$7,500 closing cost grants available for qualified buyers
We understand that buying your first home is an exciting, and sometimes stressful, process. Our experienced mortgage lenders are here to help you every step of the way. Visit our Path to Home Ownership page to better understand the process than apply online when you are ready!
The 2023 Homeownership Set-aside Program (HSP) opens March 6.
Union State Bank has partnered with Federal Home Loan Bank (FHLBank) Topeka to offer up to $7,500 in grant opportunities for qualified first-time home buyers.
HSP grant funds may be used for down payment, closing cost and repair assistance to first-time homebuyers earning at or below 80% of the area median income for households purchasing or constructing homes in Colorado, Kansas, Nebraska and Oklahoma.
Grant funds are limited and are available to qualified buyers on a first-come, first-serve basis. Union State Bank is a Equal Housing Lender, NMLS # 412388, Member FDIC.
Visit our First Time Home Buyers Grant page to see if you qualify!
Construction and Bridge Loans
Home Equity Line of Credit
Your home is generally your largest single asset which, over time, appreciates in value. With a Home Equity Line of Credit (HELOC) you can use the equity you've built into your home to pay for large expense items. Learn more about a Union State Bank Home Equity Line of Credit.
Second Mortgage including Purchase Money
A second mortgage can be used in place of PMI (private Mortgage Insurance). The interest for a second mortgage is usually tax deductible where PMI is not. In addition to accumulating equity faster, second mortgages can have a flexible payment date to break up the mortgage payment throughout the month. Contact us to learn more about a secondary mortgage.
Minimum credit score is 680. Use our free credit assessment tool to evaluate your credit status. Your credit is calculated as 'Good', 'Fair' or 'Needs Improvement'. A good credit assessment means you should be able to qualify, within the limits of your income, for most loans. You are also much more likely to receive the best interest rates available. If your credit is fair, you will probably not have trouble qualifying for a loan, but you may not receive the best available interest rate. If your credit rating needs improvement, you may have issues that could limit your ability to qualify for many loans.
Special Financing Programs - HUD, FHA, VA, Rural Housing, Fannie Mae
Union State Bank has access to many special financing programs through partnerships with third parties. These programs include:
- Fannie Mae /Home Ready
- Rural Housing loans
- FHA / FHA 203K loans
- HUD 184 / Native American loans
- VA loans
Jumbo Loans
Jumbo loans are financing tools designed for properties that exceed conventional loan limits. The Federal Housing Finance Agency has set the conforming loan limit for most counties to be $726,200 for 2022. Mortgages over this amount may qualify for a jumbo loan.
- 15 and 30 year term options
- Max loan to value is 80%
- Minimum credit score 720
Mortgage Calculators
The first step in buying a house is determining your budget. The mortgage qualifier calculator steps you through the process of finding out how much you can borrow. You can calculate your mortgage qualification based on income, purchase price or total monthly payment.
Use our free credit assessment tool to evaluate your credit status. Your credit is calculated as 'Good', 'Fair' or 'Needs Improvement'. A good credit assessment means you should be able to qualify, within the limits of your income, for most loans. You are also much more likely to receive the best interest rates available. If your credit is fair, you will probably not have trouble qualifying for a loan, but you may not receive the best available interest rate. If your credit rating needs improvement, you may have issues that could limit your ability to qualify for many loans.
Use this mortgage calculator to determine your monthly payment and generate an estimated amortization schedule. Quickly see how much interest you could pay and your estimated principal balances. Enter prepayment amounts to calculate their impact on your mortgage.
Determining which mortgage term is right for you can be a challenge. With a shorter 15 year mortgage, you will pay significantly less interest than a 30 year mortgage - but only if you can afford the higher monthly payment. Use the mortgage comparison calculator for a comparison of a 15 vs. 30 year mortgage.
Home Mortgage Disclosure Act Notice: The HMDA data about our residential mortgage lending is available online for review. the data shows geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information visit the Consumer Financial Protection Bureau's website www.consumerfinance.gov/hmda.