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Mortgage Loans Tailored to You

You put a lot of effort into finding the right home for you and your family. You search the listings online, attend open houses, schedule showings and work tediously to make sure the home has everything you’ll need. But do you put as much thought and effort into choosing your mortgage lender? At Farmers & Merchants State Bank, we take great pride in being a community mortgage lender. We can handle all elements of your home loan right in our office, from pre-approval to closing. We’ll work with you to discuss your options, and you can rest assured that all decisions related to your loan are made by our lenders in our offices. If you’re ready to experience the difference in working with a local mortgage lender, visit our Mortgage Web Center to get a personalized quote.

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Today's Mortgate Rates

30 Year Fixed Rate - Serviced by F&M State Bank - Conventional

Rate APR Points
7.000% 7.097% 0%
Important Loan Information
Projected Payment Schedule

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in Waterloo, WI and is within Jefferson county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days, the assumed credit score is 740, and loan to value is 60%. Loan to value is based on the lesser of the purchase price or appraised value.

At a 7.000% interest rate, the APR for this loan type is 7.097%. The monthly payment schedule would be:

  • 359 payments of $997.95 at an interest rate of 7.000%
  • 1 payment of $999.32 at an interest rate of 7.000%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

15 Year Fixed Rate - Serviced by F&M State Bank - Conventional

Rate APR Points
6.500% 6.655% 0%
Important Loan Information
Projected Payment Schedule

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in Waterloo, WI and is within Jefferson county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days, the assumed credit score is 740, and loan to value is 60%. Loan to value is based on the lesser of the purchase price or appraised value.

At a 6.500% interest rate, the APR for this loan type is 6.655%. The monthly payment schedule would be:

  • 179 payments of $1,306.66 at an interest rate of 6.500%
  • 1 payment of $1,306.86 at an interest rate of 6.500%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

7 Year Adjustable Rate-Serviced by F&M State Bank - Conventional

Rate APR Points
7.250% 7.348% 0%
Important Loan Information
Projected Payment Schedule

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in Waterloo, WI and is within Jefferson county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days, the assumed credit score is 740, and loan to value is 60%. Loan to value is based on the lesser of the purchase price or appraised value.

At a 7.250% initial interest rate, the APR for this loan type is 7.348%, subject to increase. Based on current market conditions, the monthly payment schedule would be:

  • 359 payments of $1,023.26 at an interest rate of 7.250%
  • 1 payment of $1,024.77 at an interest rate of 7.250%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

3 Year Adjustable Rate-Serviced by F&M State Bank - Conventional

Rate APR Points
7.000% 7.189% 0%
Important Loan Information
Projected Payment Schedule

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $250,000. The property is located in Waterloo, WI and is within Jefferson county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days, the assumed credit score is 740, and loan to value is 60%. Loan to value is based on the lesser of the purchase price or appraised value.

At a 7.000% initial interest rate, the APR for this loan type is 7.189%, subject to increase. Based on current market conditions, the monthly payment schedule would be:

  • 36 payments of $997.95 at an interest rate of 7.000%
  • 323 payments of $1,009.81 at an interest rate of 7.125%
  • 1 payment of $1,009.03 at an interest rate of 7.125%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

 

Home Equity Line of Credit Special - Home Equity

Rate APR Points
7.500% 7.500% 0%
Important Loan Information
Projected Payment Schedule

The information provided is based on a $50,000 loan. The property is located in Waterloo, Jefferson county in the State of WI. The property is an existing single family home and will be used as a primary residence. The assumed credit score is 740.

    Interest Rate/APR: 7.500% for the first 6 month(s), then Prime Rate as published in the Wall Street Journal + 0.000% (currently 8.500%), with a floor rate of 4.00%.
    Payment: Minimum monthly payment will be based on interest due.
    Term: 15 Year Draw Period.
    Balance Due at End of Loan Term: At maturity, the unpaid principal and interest balance is due and payable.

     

    Our Home Loan Offerings

    Loan Type

    What You Need to Know

    Fixed-Rate Mortgage

    This loan maintains the same interest rate throughout the loan’s entire term. Fixed-rate loans are ideal for borrowers who intend to stay in their home for more than 10 years and want the security of a consistent monthly payment.

    Adjustable-Rate Mortgage

    This loan maintains a fixed interest rate for the initial term, and then the rate is subject to fluctuations moving forward. It is an ideal choice for borrowers who intend to live in their homes for less than 10 years.

    Home Loan Refinance

    Refinancing your loan allows you to take advantage of lower interest rates than when you initially applied for your loan. A refinance can reduce the amount of interest you pay over the term of your loan while also potentially reducing your overall term and the amount of your monthly payment.

    Home Equity Loan

    A home equity loan allows you to use your home’s built-up equity as a lump sum loan. You’ll receive the full amount of the loan upfront, and then make fixed payments each month.

    Home Equity Line of Credit

    This solution allows you to use your home’s equity as a revolving line of credit. You draw on the funds as needed. As you pay the amount back, it then becomes available for future borrowing.

    Meet Our Lenders

    Nicki Kelly

    Nicki Kelly

    VP Consumer Banking - Director of Marketing, Mortgage Loan Officer NMLS ID#2112621

    Division: Mortgage Lending

    Location: Lake Mills

    Phone: (920) 478-7015

    Contact Me See My Bio
    Brad Chadwick

    Brad Chadwick

    VP, Branch Manager, Mortgage Loan Officer | NMLS ID#615931

    Division: Mortgage Lending

    Location: Marshall Office

    Phone: (608) 655-1470

    Contact Me See My Bio

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