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KS StateBank mortgage review
No lender fees for eligible borrowers under its Hero Program.
KS StateBank has a full suite of mortgages — such as new home purchases, home equity and refinancing options — and a vocational program to reduce closing costs. But its physical locations are limited, and you’ll need to speak with a loan officer to find out its rates and fees.
Details
| Loan products offered | Conventional, Jumbo, FHA, VA, USDA, Home equity, Refinance |
|---|---|
| Minimum credit score | Conventional: 640 |
| Minimum down payment (Conventional) | 3% |
| State availability | Not available in: NY |
| NMLS # | 410602 |
Our take on KS StateBank mortgages
KS StateBank is a full-fledged bank offering a wide range of financial and loan products — not only mortgages. But you won’t find much information about home loans on its website, which appears a bit stripped-down and basic compared to other lenders.
That said, the bank is known for its competitive rates and reduced fees, so it may be worth a call to find out what it can offer you. And if you work in education, law enforcement or the military, or you’re a firefighter or paramedic, you don’t pay any lender fees if you qualify for its Hero Loan program.
But unlike some lenders, you’ll need to pick a loan officer at the bank to get started with an application. And it means calling around until you find a loan officer that you want to work with or picking one randomly and hoping for the best.
KS StateBank requirements
KS StateBank doesn’t list its lending requirements on its site, but generally it varies based on the home loan you choose. Get a customized rate quote by filling out a prequalification form on KS StateBank’s website to have a loan officer contact you.
Documentation
With the Purchase Ready program, a KS StateBank underwriter performs an initial review of your documentation for preapproval. Depending on your situation, you may need to gather:
- Most recent pay stubs for the last 30 days
- Last two years of W-2 statements and federal tax returns
- Last two years of business returns, if self-employed
- Last two months of bank statements
- Account statements for retirement and other asset accounts
- Diploma or transcripts if you were a student in the last two years
- Divorce decree with child support order and most recent six months of child support or alimony income, if applicable
Costs and fees
Borrowers who qualify for the bank’s Hero Program don’t have to pay lender fees in their closing costs, but other than that, KS StateBank doesn’t publish its fees online. Typically, closing costs run between 2% and 5% of the purchase price and can include:
- Origination fee
- Credit report fee
- Document preparation fee
- Land survey fee
- Appraisal fee
- Inspection fee
How to apply for a mortgage with KS StateBank
Before you apply with KS StateBank, this lender offers the option to research its loan officers by reviewing their personal webpages. Apply directly with the loan officer you choose, or fill out a general application and have one assigned to you.
Here are the steps for KS StateBank’s loan application:
- Go to KS StateBank’s website, hover over the Personal tab and Lending Solutions dropdown menu. Choose Find a Lender and Apply Today.
- Select the link to apply with a particular lender or select fill out our general application.
- Create an account with your email. Hit Continue.
- Enter your personal information and information on a coborrower, if applicable. Choose Save and Continue.
- Detail your loan information, whether you’re purchasing a home and the type of loan you’re looking for. Hit Save and Continue.
- Answer questions about your employment and income, assets and debts, selecting Save and Continue at the bottom of each page.
- Answer a few declarations — for example, whether you’re a US citizen or whether you’ve declared bankruptcy in the past seven years. Choose Save and Continue.
- Review your application and hit Submit.
What types of mortgages can I get through KS StateBank?
- Conventional
- FHA
- VA
- USDA
- Jumbo
Other mortgage products KS StateBank offers
Find a few other specialty mortgage products:
- Refinance. Offers several refinance programs for better rates as well as cash-out options, including FHA and VA refinance options.
- Home equity loan. Fixed- and adjustable-rate loans are offered to tap into your home equity. Finance up to 85% of your home’s value, minus any existing mortgages.
- HELOC. A home equity line of credit lets you draw from a line of credit for whatever you need and only pay interest on what you borrow for the draw period.
- Bridge loan. This short-term loan can help cover your financing expenses when you’re ready to buy a new home but haven’t yet sold your current house.
Alternatives to KS StateBank mortgages
If you’re looking to apply for a home loan today without having to either choose a loan officer first or wait for a call back, consider a digital lender like Better or Beeline. These lenders specialize in fast, streamlined digital applications, no origination fees and speedy preapproval decisions without selecting a loan officer.
Or if you’re looking for a specialty loan that KS StateBank doesn’t offer — for instance, a loan for a home renovation or condo purchase — an established lender like Draper & Kramer Mortgage has a lot more options to choose from and comes highly recommended by past customers.
Start comparing lenders to find the right home loan and best deal for your situation. Select See rates to get a personalized quote today.
KS StateBank reviews and complaints
As of August 2021, neither Trustpilot nor the Better Business Bureau (BBB) has any customer reviews for KS StateBank. The bank isn’t accredited with the BBB but has an A+ rating. Yelp has five one-star reviews, which complain of longer-than-expected closing periods and unresponsive loan officers.
KS StateBank pros and cons
Weigh the perks and drawbacks to decide if this lender fits your needs.
Pros
- No lender fees for specific home loan programs. KS StateBank waives its origination fees for VA loans and its Hero program.
- Purchase Ready Program. Early underwriting can help flag potential issues with your documents, streamlining the home loan process.
- Choose your loan officer. Rather than having a random loan officer assigned to you, KS StateBank encourages you to choose a lender based on their loan specialties, background or language preference.
Cons
- Limited physical locations. With only seven loan offices across four states, it could be hard to get in-person support.
- Limited info on its website. We made unsuccessful attempts to get rate estimates online. And you need to call about qualifying info, such as loan-to-value ratios, debt-to-income ratios or minimum credit scores.
What is KS StateBank?
KS StateBank was founded in 1969 as Kansas State Bank of Manhattan, and it rebranded as KS StateBank in 2015.
Headquartered in Manhattan, Kansas, it has six branches in Kansas, one in Arizona and mortgage origination offices in Arizona, Kansas and Minnesota. The bank also offers personal and business banking services as well as mortgage, personal and commercial loans.
Review by
Kimberly Ellis
kimberly.ellis@findercrew.comKimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.
Expert review
KS StateBank is good for first-time buyers looking for low down payment options and no lender fees. But it doesn’t publish its rates or underwriting guidelines online, so you’ll need to contact a loan officer to get details about your loan options.