No matter what stage you are at in life, or what you want out of it, State Bank of Aurora offers an array of loans that can help you achieve your goals and dreams. Whether your need is personal or business related, you can be sure of receiving personal and confidential service concerning your loan request. Our experienced lenders will help you understand your options based on your personal financial situation.

COMMERCIAL
State Bank of Aurora invests in our communities’ growth and development. We offer commercial loans for business startup, working capital, inventory and expansion, including Small Business Administration loans. Our lenders will work with you to design a loan that meets your needs and matches with your business cash flow.

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CONSUMER
At State Bank of Aurora, we offer a variety of mortgage products. Whether you are a buying a home, cabin or an investment property, or refinancing an existing loan, our capable lenders will work with you to determine the best type of loan for your individual situation.

State Bank of Aurora provides access to the Secondary Real Estate Market and is able to offer competitive terms, rates and programs through this outlet. Our experienced loan officers will assist you throughout the loan process. Whether you are looking at purchasing or refinancing, a conventional or government insured loan, we can help you! If your needs do not fit into the Secondary Market, State Bank of Aurora has a variety of In-House products to suit your needs.

Installment Loans
Planning to purchase a new or used vehicle, motor home, boat, snowmobile, 4 wheeler, mobile home, computer, etc? Our courteous, friendly lending staff will be happy to assist you with an installment loan that is designed to meet your needs. These are typically a fixed rate, secured loan. Rates and terms vary, depending on the age and condition of the collateral.

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Personal Loans
There are many reasons you may need extra money: college expenses, medical bills, taxes, vacations, car repairs, etc. We will work with you to design a payment plan that fits your budget. These are usually fixed rate loans and may be secured or unsecured. Generally, loans that are secured will have a better rate and longer repayment period.

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Ready Reserve
Ready reserve means that we’ve approved, in advance, a personal loan to balance your account if you should overdraw. This product is designed to end checking account overdraft complications and charges and embarrassing delays. Visit today with one of our lending staff to establish a Ready Reserve account.

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In-House
These loans are underwritten, funded and serviced right here at State Bank of Aurora. We offer competitive rates and flexible terms on primary and seasonal dwellings as well as bare lots. With our own underwriting we are able to offer fast, convenient financing for most any situation, taking into account your unique circumstances.

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Home Equity
A home equity loan is a fixed rate loan that utilizes the equity in your home as collateral. The funds loaned can be used for home improvements, purchase of a vehicle or other consumer goods, college expenses, etc. These are popular loans as the interest you pay may provide a tax deduction. (Consult your tax advisor to see if this applies to your situation.)

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Secondary Market Conventional Loans
A conventional loan through the Secondary Market can be a fixed rate, adjustable rate or balloon mortgage. Whether it is your primary residence, second home or an investment property, you can purchase for as little as 5% down, refinance your existing mortgage or even take advantage of debt consolidation or cash out for other purposes. The experienced lenders at State Bank of Aurora will help you determine which loan is best for you based on how long you plan to live in your home, the current interest rates and your personal financial situation.

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Government Loans
If you are a veteran or if you meet other specific requirements, you may qualify for a special loan program.

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FHA Loans
The U.S. Department of Housing and Urban Development (HUD) insures loans especially designed for low to moderate-income homebuyers. These are called FHA loans because they are insured by the Federal Housing Administration, a department within HUD. Maximum loan amounts vary from county to county. Generally speaking, these loans are used for low to moderately priced homes.

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VA Loans
Veterans Administration (VA) loans are available to those who have served in the military. The rules regarding eligibility are complicated, but if you actively served in the U.S. Armed Forces, or in some cases if you have served in the Reserves or National Guard, you may be eligible for VA financing. The advantage of a VA loan is that you do not need to make a down payment. You can borrow the entire purchase price of your home.

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Conventional Loans
Conventional financing is any loan through a lender that is not insured or backed by the federal government. Conventional loans can be insured either by a private mortgage insurance company or an uninsured company. Depending on the amount you are borrowing in relation to the property valuation determines into which category your loan would fall. The experienced lenders at State Bank of Aurora are here to help to help you with this determination.

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STUDENT LOANS
Planning on furthering your education? State Bank of Aurora has student loan applications available. Stop in today and one of our lenders will be happy to assist you.

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BUILDING CONSTRUCTION
Building a home is an exciting project! State Bank of Aurora offers construction loans for primary and seasonal properties or for just adding an addition to an existing home. We will approve your permanent loan at the same time we approve your construction loan. Once construction is completed, we will work with you to determine the best permanent financing for your individual situation.

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SMALL BUSINESS ADMINISTRATION
Small Business Administration loans are government- backed loans that offer many advantages. Acquiring a new business, purchasing equipment, or increasing working capital are a few examples of ways this type of loan can be utilized. Our lenders will work with you to decide on a loan that meets your needs.

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