Home Loans

When buying a home turn to the team that is “with you every step of the way.” From the first phone call to closing your home loan, our mortgage team will provide convenient, competitive and caring home loan services.

Let's get started. Here's how it works:

1. Select the application option that works for you


2. Compare mortgage rates and terms for each loan

3. Choose the loan that fits your needs

Start your free South Story Bank & Trust loan request now and enjoy all the benefits of a home loan custom-fitted to your needs! You will have wide choice of home mortgage options, including fixed and variable rate home loans.

Home Financing Options

Whether you’re a first-time or repeat homebuyer, you’ve come to the right place! The Iowa Finance Authority is not a direct lender, but we're able to offer the benefit of a safe, affordable, fixed-rate mortgage paired with the convenience of working with a local lender. Let the Iowa Finance Authority and South Story Bank & Trust help make your dream of affordable homeownership a reality!

  • Conventional Fixed-Rate Mortgages are the most popular home loan product and offers the security of a fixed rate term and payment.
  • Adjustable Rate Mortgages offer the best of both worlds with a lower interest rate and fixed payment for a designated period of time. This is the most cost effective option if you plan to live in your home for a short period of time.
  • Federal Housing Administration (FHA) is a government insured program that offers homebuyers and existing FHA customers the ability to find affordable financing with lower qualifying requirements and competitive interest rates.
  • Veteran Administration (VA) is also a government insured program that offers mortgage options for eligible veterans. Qualified veterans can obtain financing with no down payment or monthly mortgage insurance premiums.
  • Iowa Finance Authority offers two home buyer mortgage programs called the FirstHome and Homes for Iowans program. You can find a complete description of both programs and others at http://www.iowafinanceauthority.gov/Programs/AffordableHomeownership.
  • Home Equity Loans offer a favorable fixed term and payment and allow you to borrower up to 90% of the appraised equity in your home. It can be used for a wide range of purposes and the interest you pay may be tax deductible.
  • Home Equity Line of Credit (HELOC) is an open-end revolving line of credit allowing you to have extra cash available when you need it! The line of credit offers up to 89.9% of the appraised equity in your home. When you do use your credit line, you'll get competitive interest rates, a low minimum monthly payment and potential tax deductibility.

Construction Loans

  • Construction loans designed to provide financing to build a new home.
  • Customized terms with a fixed rate for the construction phase with end financing available.

Home Equity Line of Credit

Adding on? Remodeling? Use the equity in your home to get a loan. These revolving open-ended lines of credit have competitive adjustable rates and minimum monthly payments based on outstanding balance. Go ahead. Start dreaming and planning!

Loan Application

Ready to get started? Just download our loan application, print it, fill it out, and mail it in or bring it with you to the bank.

Mortgage Payment Calculator

Use our loan calculator to help you determine the loan financing amount and payment options that are best for you.

*Please Note: The calculator is intended to provide approximate information about your loan payments and does not constitute an offer to extend credit. Your actual payment information may vary. Please contact us for exact payment information.