:::: State Bank of Lizton ::::

Mortgage Programs

We can tailor a mortgage for you from our full range of mortgage products:

The following are some of the mortgage packages offered:

State Bank of Lizton offers pre-approvals to enhance your purchasing power and allow you to negotiate your purchase with confidence.

We can complete most applications over the phone. Our goal is to make your home financing as convenient as possible.

For more information, please contact a mortgage lender:
Tami Richardson, NMLS ID 763491 – (765) 483-6303 or trichardson@statebankoflizton.com
Lyn Larison, NMLS ID 763492 – (317) 858-6154 or llarison@statebankoflizton.com

Click here to access a list of our lenders and their NLMS Identification numbers.

Years You Plan To Stay In The House	Recommended Program
1-3	3 year adjustable rate mortgage
4+	15 or 30 year fixed

LOAN PROGRAMS	ADVANTAGES	DISADVANTAGES
Fixed Rate Mortgages 30 year fixed 15 year fixed	Monthly payments are fixed over the life of the loan Interest rate does not change Protected if rates go up Can refinance if rates go down	Higher interest rate Higher mortgage payment Rate does not drop if interest rates improve
Adjustable Rate Mortgages 1 year 3 year	Lower initial monthly payment Lower payment over a shorter period of time Rates and payments may go down if rates improve May qualify for higher loan amounts	More risk Payments may change over time Potential for high payments if rates go up
FHA Financing	Lower down payment Easier to qualify Sometimes you may get lower rates	May be subject to income and property value limitations
Home Equity Line of Credit Consult your tax advisor	You only borrow what you need Pay interest only on what you borrow Flexible access to funds Interest may be tax deductible	Rates can change. The maximum interest rate is normally high Payments can change Harder to refinance your first mortgage
Home Equity Fixed Loan Consult your tax advisor	Fixed payments Interest may be tax deductible	Higher interest rates than on first mortgages Harder to refinance your first mortgage

Click here to use our Financial Planning Tools.

Contact us for more information. Want to learn more about the American Dream of owning your own home? Visit www.fanniemae.com.