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Home Loan Center

Home Loan Center

Looking to build or purchase a primary residence? How about a second home or investment property? Whatever your residential mortgage needs our Residential Lending Team at Panhandle State Bank and its locally owned divisions of Intermountain Community Bank and Magic Valley Bank can find a loan program that will work for you. We can help you select the best option and we will ensure your request is handled smoothly and quickly.

Home Purchase Programs*
Buying a new home can be a big endeavor. After all it is the place you will call home and you want everything to be perfect. Let us make the financing part easy. We will guide you through the various mortgage options available and find the one that best fits your needs. You can choose from a full range of programs and terms. We offer financing for first time home buyers, vacation homes, condos and rental properties as well. There are also down payment assistant programs available for some borrowers. We do offer conventional loans as well as Jumbo products, which are loans over $417,000.

Home Refinance Programs*
Life happens when you least expect it. We can help you pull additional money out of your home with a refinance mortgage loan to help you make the best of the unexpected. We can also help you look for a better rate and term on your current mortgage through a refinance loan.

Home Construction Programs*
Let us guide you through your construction project. Building a new house can be overwhelming, but the financing of your project doesn’t have to be. We have several construction loan programs to choose from, including our construction to permanent loan program.

Lot Loans*
We offer a way for you to buy that lot of your dreams now, while it is available, and then take your time getting your building plans together. Rates and terms can vary on this program so you should contact your local Residential Loan Originator for more information on the programs currently available for purchasing bare land.

Home Equity Loans and Lines of Credit*
Maybe all you need is a small line of credit or home equity loan to finish up a couple of projects around the house. This may be the right option for you. We can help you analyze your needs and figure out if this is the best fit for you.

  • Use for a variety of purposes, including consolidating debt, financing home improvements, or paying for a child's education.
  • Possibly deduct the interest you pay on your tax return (consult your CPA or tax advisor to determine deductibility).
  • Flexible payment structures to meet your individual needs.

Frequently Asked Questions

  • What is APR? A yearly rate of interest that includes fees and costs paid to acquire the loan. Lenders are required by law to disclose the APR. The rate is calculated in a standard way, taking the average compound interest rate over the term of the loan, so borrowers can compare loans. In mortgages, it is the interest rate of a mortgage when taking into account the interest, mortgage insurance, and certain closing costs including points paid at closing. There is no APR in an automobile lease; instead, the cost of money is expressed as the money factor.
  • What is a Good Faith Estimate? Good faith estimate. A written estimate of expected closing costs that a lender must provide a prospective home buyer within three days of the homeowner submitting a mortgage loan application. Brokers and lenders are required by law to make as accurate an estimate as they can.
  • What do closing costs include? Expenses incurred by buyers and sellers when transferring ownership of property. Closing costs include lender fees, title charges, government recording fees, escrow and pre-paid items.
  • What are prepaid items? Recurring costs such as taxes, insurance and interest that are paid at closing and which cannot be financed.
  • What is Mortgage Insurance? A policy that protects the lender by paying the costs of foreclosing on a house if the borrower stops paying the loan. Although PMI protects the lender, it is paid monthly by the borrower. Private mortgage insurance usually is required if the down payment is less than 20 percent of the sale price.
  • What if i am in a flood zone? The improvements to the property (home, shop, outbuildings, etc.) are required to be insured by an additional insurance policy (above the cost of homeowners hazard insurance) that pays the homeowner for damage caused by rising water. It does not reimburse the owner for falling water, such as rain falling through a hole in the roof, but pays for damage stemming from flooding.
  • What is an Earnest Money Agreement? In real estate vocabulary; the contract is the legal document by which buyer and seller make offers and counteroffers. The real estate contract describes the property, includes or excludes items in the property, names the price, apportions the closing costs between the parties and sets forth a closing date. When buyer and seller agree on terms and sign the same document, the property is said to be "under contract." More formally known as agreement for sale, purchase agreement or earnest money contract.
  • What is a declining market and how does that affect me? There is no standard definition of a declining market. In general, based on the tracking of home prices in a certain geographic location, a declining market is one in which home prices are currently declining over two quarters and could include an over supply of homes currently for sale. Lending guidelines require a specific down payment or equity position based upon the value of the real estate and if the value is less than indicated in a purchase transaction this could mean a greater down payment requirement or reduced lending equity for a refinance transaction.

* Subject to Credit Approval