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From new autos to room additions, make your dreams come true with a loan from the McFarland State Bank. Our staff will create a sound payback program that won't overwhelm your budget.
We make loans for any good reason, including those below:
- Automobiles
- Boats
- Debt Consolidation
- Education
- Home Improvement
- Medical or Dental
- Motor Homes
- School Expenses/Tuition
- Travel
To start the process, simply give us a call and schedule an appointment with one of our Personal Bankers or contact us.
To make the loan process run smoothly for you, print the loan inquiry form, fill it out and bring it with you to your appointment.
McFarland State Bank is pleased to provide our state of the art online mortgage product. Apply for and receive pre-approval in minutes for your next mortgage loan. Please click this link to go directly to our Online Mortgage program.
Which Loan Program is best?
Today’s home buyers have unique needs. Loan terms should be suited to meet your lifestyle and budget. Our many mortgage options include the following popular programs.
| Fixed Rate Mortgages |
Adjustable Rate Mortgage (ARM) |
The interest rate on this agreement never changes for as long as you hold your mortgage. It offers the comfort of steady payments. Fixed rates are available in a number of different terms.
Longer Fixed Ideal for:
- Those who plan to own a home for a long time.
- Those who want the comfort of steady payments.
- Those who have set incomes.
- Those who want low monthly payments.
Shorter Fixed Terms Ideal for:
- Those who want rate consistency.
- Those who can afford slightly higher payments.
- Those who want to reduce interest costs.
- Those who plan to keep the loan 7 years or more.
- Those with set incomes.
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This type of mortgage option became popular when interest rates were high. On ARMs the interest rate is subject to adjustment at periodic intervals. The starting rate is typically lower than on other mortgage loan plans.
Ideal for:
- Those who believe rates will stay the same or drop in the future.
- Those who can count on income increasing in the future.
- Those who plan on owning their homes for up to 5 years.
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| Balloon Mortgages |
Guaranteed Rural Housing (FmHA) |
Balloon mortgages are fixed rate loans that may be amortized over a period of years. They have low monthly payments but require a lump sum payment of the mortgage at the end of the term. Their rates are typically lower than fixed rate loans.
Ideal for:
- Those who plan to sell their home within a few years.
- Those who believe the lower rate more than compensates for the potential rate adjustment after a few years.
- Those who expect increased income over a few years.
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An FmHA mortgage is insured by the federal government. It requires no down payment. Loans may be made up to the property's appraised value. Mortgages are long term with a fixed interest rate.
Ideal for:
- Those who have only a small down payment.
- Those who want the comfort of steady payments.
- Those who have set incomes.
- Those who want low monthly payments.
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| The Wisconsin Housing & Economic |
Wisconsin VA Mortgage |
Development Authority provides affordable financing for first-time Wisconsin home buyers. This mortgage plan requires a minimal down payment and carries below market interest rate.
Ideal for:
- Low and moderate income levels.
- Wisconsin resident purchasing their first home.
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Fixed rate financing at below market interest rates is available for Wisconsin Veterans, a Wisconsin Veteran who entered the service before 4-1-75 or a Veteran who has lived in the state for the past 5 years, may be eligible. A minimum 5% down payment is required with typically lower rates than other fixed rate mortgages.
Ideal for:
- Eligible Wisconsin Veterans
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| Federal VA Mortgage |
Construction Loans |
These mortgages are guaranteed by the federal government. They are offered to qualified Armed Forces personnel, active military personnel, Veterans or their widows. A VA loan allows flexible credit standards and the mortgage is often assumable.
Ideal for:
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Building a new home can be very exciting. But financing new construction requires a special type of mortgage loan. Contractors and subcontractors will require payment as the construction proceeds. McFarland State Bank can help you through this process and help move you into an adjustable or fixed rate mortgage. |
Loan Servicing
At McFarland State Bank, customers have the option on all non-government mortgages to have them serviced here-at home. Choosing a mortgage with this option, means that we handle your monthly mortgage payments.
As your loan experts we:
- Take care of the accounting of the principal and interest portion of your payments.
- Calculate ARM adjustments and inform you of payment changes.
- Answer your questions on payment coupons, interest figures, payoffs, etc. with a local phone call to someone you know.
These options are intended for owner occupied 1-4 family dwellings. They may be subject to government funding, and/or other restrictions.
When you are choosing a mortgage plan, it is important to learn all you can in the early stages of the mortgage process. For help in picking the plan that best meets your financial needs, give one of our Mortgage Specialists a call at (608) 838-3141. To help speed up this process, here is a list of preliminary information that will be needed for your loan application.
Preliminary Information Needed for Loan Application:
- Employer(s) name, address & phone number for past 2 years
- W-2’s for the past 2-years
- Pay stubs covering wages for the most recent 30-day period
- Last 2 statements for all deposit accounts – checking, savings, investment, IRA etc.
- If self-employed, provide last 2 years signed and dated personal & business tax returns (if applicable) with all schedules attached.
- Landlord’s name and address for past 2 years.
Click here for our Mortgage Calculator.
At McFarland State Bank we offer a wide variety of consumer credit cards. There are options for you if you are just starting out, going to college, looking for a low interest rate, wanting travel or cash rewards…
Take a look at what the McFarland State Bank Elan Credit Card can do for you. Apply today!
to learn more and/or to apply for Elan Visa Consumer or an Elan Visa Business Credit Card.
- Click here for more info or to apply online.
- If you are an existing Elan Card Customer, click here to access your account.
Remember that all credit cards require an application and credit approval.
For more information about applying for a credit card, call one of our Personal Bankers.
The equity that you have in your home can be used for almost any financial need:
- Debt Consolidation
- Home Improvements
- Investment Opportunities
- Education/Tuition
- Home Electronics
- Appliances
- Automobiles
- Vacations
- Emergencies
- …And More.
What’s more…The interest you pay may be tax deductible (check with your tax advisor).
You will find our Home Equity Line of Credit flexible, accessible and competitive. You won’t pay interest until you use the loan. Closing costs, fees and loan value requirements apply.
To start the process, simply give us a call and schedule an appointment with one of our Loan Officers or contact us.
To mak e the loan process run smoothly for you, print the loan inquiry form, fill it out and bring it with you to your appointment.
- Click here for the loan application form (Legal size).
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Personal Loans
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