Buying your first home is a major milestone, and selecting the right lender is crucial to making the process smoother. While larger national banks may seem like the go-to choice, community banks offer several advantages that can benefit first-time home buyers.
- Personalized Service
Community banks focus on providing a more personal touch. At Chelsea State Bank, you work directly with the same loan officer throughout the entire mortgage process, ensuring that you receive consistent support and guidance every step of the way. - Local Expertise
A community bank has deep knowledge of the local housing market, including area trends, property values, and neighborhood insights. We have been in and around the Chelsea Community for more than 125 years. We have offices in Chelsea, Dexter and Jackson. This familiarity can help you make informed decisions and better understand the dynamics of your potential new home. - Faster Decisions
Because community banks are smaller, they tend to have fewer layers of approval. This often leads to faster decision-making, which can be a huge advantage when you’re trying to make an offer on your dream home in a competitive market. - Building Relationships
Working with a community bank like Chelsea State Bank allows you to develop a lasting relationship with a local institution. This can be beneficial for future financial needs, from refinancing to personal loans, as you’ll already have a trusted partner in your community.
Choosing a community bank for your first mortgage means receiving personalized service, local expertise, and the flexibility to ensure your home-buying experience is as smooth as possible. It’s a great way to support your community while securing the home of your dreams.
Personal Products
Personal Home Loans
Unlock the door to your dream home with our versatile range of mortgage options. Home mortgage, home improvement, or construction – we've got you covered!
First-Time Homebuyer Programs
Fixed-Rate Mortgages
Adjusted Rate Mortgates (ARM)
Fixed-Rate Mortgage
Know what your mortgage payment is going to be every month for the life of the loan.
Your payment always remain the same, helping you to plan and budget, staying on track with payments. Chelsea State Bank offers a variety of terms to give you choices in both payment amount and when you make the final payment on your home.
Advantages to a Chelsea State Bank fixed-rate mortgage include:
- Fixed payment every month
- Clear terms and pay-off date
- Pre-qualification
- Partnership with trusted CSB mortgage expert
Balloon Loans
For some customers, a balloon mortgage is just what they need to achieve their dreams.
It’s not for everyone, but for those who are interested in this more unique way of financing, CSB is your bank to help make it happen. A balloon loan is perfect for those who are planning to refinance or sell property before the loan matures.
FHA Loans
Fantastic financial gains with a long term and a fixed rate. Minimal cash investment up front.
FHA mortgages are government insured and provide a great financing option to those who need a lower down payment or more flexible credit requirements.
A mortgage backed by the Federal Housing Administration (FHA) provides a way for those who do not meet the requirements of a conventional mortgage to still be able to purchase their own home. Private Mortgage Insurance (PMI) is required. Highlights of a FHA loan include:
- Lower down payment requirements
- Up to 6% Seller assistance toward Buyer’s closing costs & prepaids allowed
- Lower credit requirements for applicant(s)
- Down payment money may be gifted from family
Simple Loan Calculator
No need to crunch all of those numbers on your own! Our handy, online calculators can help with your financial forecasting.
Total Interest Paid
*This calculator is for informational purposes only, and does not constitute an offer. Results are based on estimates provided by you, and are not guaranteed to be accurate.
