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Mortgages

Mortgage Products


Mohave State Bank is a direct lender that means we process, underwrite, and approve loans locally. With all required documents submitted, we can close your mortgage loan in 21 days or less.* Apply online or call a Mohave State Bank Mortgage Loan Consultant today for a fast approval.


Mortgage Product

Features

 How to Apply

Conventional Loan

- Purchases and Refinances


- Fixed and Adjustable Rate Mortgage


- Low interest rates


- Primary residence, second homes, manufactured homes, and investment properties 1-4 units


- Loan amounts up to $417,000


- As little as 5% down payment


- Minimum 620 Credit Score


- Gift funds allowed for down payment on primary and second homes.


- Co-borrowers allowed to help qualify

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

 

Jumbo Loans

- Purchases and Refinances


- Fixed and Adjustable Rate Mortgage


- Primary residence, second homes, and investment properties 1-4 units


- Loan amounts over $417,000


- As little as 10% down payment


- Minimum 620 Credit Score

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

FHA Loan

- Purchases, Refinances, Rehabilitation, or Remodel


- Fixed and Adjustable Rate Mortgage


- Primary residence 1-4 units and manufactured homes


- As little as 3.5% down payment


- Low Credit Score Allowed


- Gift funds allowed for down payment on primary homes.


- Co-borrowers allowed to help qualify


- Interest rate reduction refinances

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

MSB -

Fast Trak Loan

Flexible Internal Loan Program

- Purchases and Refinances


- Fixed and Adjustable Rate Mortgage


- Low interest rates


- Primary residence, second homes, manufactured homes, investment properties 1-4 units


- Loan amounts up to $1,500,000


- As little as 3% down payment


- Minimum 640 Credit Score


- Gift funds allowed for down payment on primary and second homes.

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

VA Loan -

To Qualified Veterans

- Purchases and Refinances


- Fixed and Adjustable Rate Mortgage


- Primary residence 1-4 units


- No down payment on loans up to $417,000, loans over $417,000 require a minimal down payment


- Low Credit Scores Allowed


- Gift funds, seller or lender allowed to pay closing cost


- Interest rate reduction refinances

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

Rural Development -

USDA Home Loan

- Purchases and Refinances


- Fixed Rate Mortgage


- Primary residence and manufactured homes


- No down payment required on purchases


- Minimum 620 Credit Score


- Gift funds, seller or lender allowed to pay closing cost


- Interest rate reduction refinances


- Income limits apply

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

 

HomePlus

Offered with the ­Arizona Housing Finance Authority

- Purchase


- Use with loan FHA, VA, or Rural Development Loans


- Receive a grant of 4% of the mortgage loan for your downpayment and/or closing costs on a home purchase


- No repayment required of grant


- No first-time buyer requirement


- Available in all Arizona counties

Call your local branch and talk with a Mortgage Loan Consultant to prequalify.

Home Equity Line Of Credit -

HELOC

- 20 year term


- Primary or second home


- Minimum 640 Credit Score


- Use for home improvements, consolidating debt, schooling, or any other purpose

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

Home Equity Fixed Rate Loan

- 3-15 year terms


- Primary, second home, investment properties


- Minimum 640 Credit Score


- Use for home improvements, consolidating debt, schooling, or any other purpose

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

Construction Loans

- Single or two time close


- Interest only during construction


- Up to 12 months to complete construction


- Loan amounts up to $1,500,000


- Minimum 640 Credit Score


- Mohave State Bank approved builder required

Apply in person by visiting your local branch and talking with a Mortgage Loan Consultant.

Reverse Mortgage

FHA Government Insured

- Purchase and Refinances


- Primary residence only


- Loan amounts up to $625,000


- No Minimum Credit Score


- One owner must be age 62+

To learn more and to schedule a confidential Reverse Mortgage assessment call:

 

Mohave and Yuma County-
Gary Ardesson (928) 302-5156

 

Maricopa County-
Robb Charles (623) 206-5873

 


Have questions or need more help? Call or visit your local Mortgage Banker.


*All necessary information and documentation must be provided at time of application in order for a loan to process in 21 days. ­Mohave State Bank is not ­responsible for any delays caused by circumstances outside of Mohave State Bank’s control.