Mortgage
Welcome Home
Our homegrown team has the experience and knowledge to help you make accurate, informed decisions to meet all your mortgage needs. With Maquoketa State Bank’s competitive mortgage rates, we work hard to get you lower monthly payments, quicker payoffs, and lower costs over the life of your loan. You work with a Mortgage Loan Officer face-to-face, someone you can get to know and trust, or talk to at any time. Someone that you know that lives and works in the same community you do. We’re certain you’ll find our service to meet and exceed your expectations.
Mortgage Options
-
Residential Mortgage Loans
For most people, their home is the biggest purchase they will ever make. We understand the big decision on which lending partner to trust. Whether you’re purchasing your first home, a vacation home, or refinancing your existing home, we have options that keep your money where it belongs – in your pocket.
-
Conventional Loans
A conventional loan is a mortgage loan that's not backed by a government agency. Conventional loans are broken down into "conforming" and "non-conforming" loans. Terms for conventional loans can be varied and flexible for borrowers with good credit, down payments, and reserves.
-
Construction Loans
Let’s build your dream together. Construction loans are short-term, interim loans used for new home construction. The contractor receives disbursements as work progresses. Contact a dedicated, experienced Maquoketa State Bank loan officer to learn more about construction loans and to discuss current construction loan rates.
-
USDA Loans
USDA loans, often referred to as RD (Rural Development) loans are zero-down-payment, low interest rate mortgages. The United States Department of Agriculture guarantees the loans, which are meant to help very low-to-moderate income buyers become homeowners. There are a few guidelines, including: the home must be in a rural area which the USDA defines as having a population under 35,000. There are a few suburban areas that meet the USDA criteria.
Eligibility Requirements
- Must be located in an area deemed eligible by the USDA
- Meet USDA program income requirements which vary by state and county. All income producing individuals over age 18 that will occupy the home will be included in the total household income.
-
Iowa Finance Authority
With the help of Iowa Finance Authority mortgage and down payment programs, the dream of your own place is within reach. First-time homebuyers, experienced buyers, and everyone in-between can make use of these options.
By phone, email or in person, our Ohnward Bank & Trust team will go the extra mile in helping you with your financial goals. Please visit or contact our team members listed below. Please do not send sensitive or personally identifiable information via unencrypted email to our team. It is not a secure way to send any information. Thank you.
Our Lending Team
Marla Franzen
Mortgage Lender
mfranzen@maquoketasb.com
NMLS# 500947
Matt Tranel
Mortgage Lender
mtranel@maquoketasb.com
NMLS# 500603
Laura Farrell
Mortgage Lender
lfarrell@maquoketasb.com
NMLS# 1240097
The following information is usually required during the loan process:
Your Social Security number
Previous two years W-2 forms
Current pay stubs and your tax returns for the past two years
Bank statements for the past two months
Investment account statements for the past two months
Recent retirement account statements
Credit card balances and monthly payment information
Auto loan balances and monthly payment information
Personal loan balances and monthly payment information
If you currently own Real Estate:
Mortgage account information
Home insurance policy information
Home equity account information (if applicable)