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KS StateBank mortgage review

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$0 lender fees for eligible borrowers under its Hero Program.

KS StateBank has a full suite of mortgages — such as new home purchases, renovation loans and refinancing options. But you’ll need to speak with a loan officer to find out its rates and fees.

Details

Loan types Conventional, Jumbo, FHA, VA, USDA, Home equity, Refinance
Minimum credit 640
Other minimum credits Conventional: 640
Minimum down payment 3%
Other fees $795 origination fee
Available States Not available in: NY

Pros

  • $0 lender fee for specific home loan programs
  • Purchase Ready Program
  • Choose your loan officer

Cons

  • Customer service is predominantly by phone
  • Limited info on its website
Trustpilot does not have any customer reviews for KS StateBank. And KS StateBank only has one customer review on the Better Business Bureau (BBB). The user reports that KS StateBank closed on their mortgage on time and also got better terms than their original lender.

What types of loans does KS StateBank offer?

KS StateBank offers both conforming and government-insured home loan programs.

  • Conventional. Fixed- and adjustable-rate loans with down payments as low as 3%.
  • FHA. Qualified borrowers may have down payments as low as 3.5%.
  • VA. Backed by the Department of Veteran Affairs, qualified borrowers could see low interest rates, no-down-payment options and KS StateBank waives lenders fees.
  • USDA. If you live in a qualified region, you could get 100% financing.
  • Jumbo. Fixed-rate, adjustable-rate (ARM) and interest-only ARM jumbo loans up to $3 million.

Other loans offered by KS StateBank

  • FHA 203(k) Renovation loans. Combine a home’s purchase price and renovation costs into one loan. It typically requires a minimum 3.5% down payment.
  • Fannie Mae Homestyle Renovation. Finance renovations when you purchase a home, or roll it into a refinance. Finance up to 75% of the purchase price plus renovation costs, or up to 75% of the “as-completed” appraised value.
  • Refinance. Offers several refinance programs for better rates as well as cash-out options.
  • Home equity loan. Fixed- and adjustable-rate loans 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. Only pay interest on what you borrow.
  • Commercial Real Estate. Finance options to build, develop or refinance commercial property.

KS StateBank fees

KS StateBank does not publish its fees online and closing costs usually run between 2% and 5% of the purchase price. Finance and lender charges can include:

  • Origination fee
  • Credit report fee
  • Document preparation fee
  • Land survey fee
  • Appraisal fee
  • Inspection fee

KS StateBank Hero Program

KS StateBank offers exclusive benefits to borrowers that work in education, law enforcement, fire department, armed forces and paramedics like EMT and EMS. If you qualify, only pay third-party closing fees, like for appraisals and titles — KS StateBank waives all other lender’s fees. This program is available for conventional, jumbo, VA, FHA and USDA loans.

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 be in touch with a loan officer.

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 paystubs for the last 30 days
  • Last two years of W-2 statements
  • Last two years of filed and signed 1040s
  • Last two years of business returns, if self-employed
  • Most recent tax return, if retired
  • Divorce decree with child support order
  • Most recent six months of child support or alimony income
  • Last two months of bank statements

How to get a home loan with KS StateBank

Before you apply with KS StateBank, this lender offers the option to research its loan officers by reviewing their personal webpages. You can apply directly with a 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:

  1. Go to KS StateBank’s website.
  2. Hover over the Personal tab and Lending Solutions drop-down menu. Click Find a Lender and Apply Today.
  3. To apply with a particular lender or click fill out our general application.
  4. Create an account with your email. Click Start Application, Continue and Next.
  5. Fill in your basic information: phone number, date of birth and marital status. Click Next.
  6. Detail your loan information, whether you’re purchasing a home and the type of loan you’re looking for. Click Next.
  7. Answer questions about your employment and if you’re a member of the armed forces. Click Next.
  8. Give detailed information about your assets and debts, such as if you own any other property or whether you’re making child support or alimony payments. Click Next.
  9. Detail your monthly income. Click Next.
  10. Answer a few declarations — for example, whether you’re a US citizen or whether you’ve declared bankruptcy in the past seven years. Click Next.
  11. Review your application and click Submit.

Pros and cons of KS StateBank

Pros

  • $0 lender fee 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. Choose a lender based on their loan specialties, background or language preference.

Cons

  • Customer service is predominantly by phone. 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 about loan-to-value ratios, debt-to-income ratios or minimum credit scores.

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What is KS StateBank?

KS StateBank was founded in 1969 as Kansas State Bank of Manhattan. In 2015, it rebranded as KS StateBank. Headquartered in Manhattan, Kansas, it has six branches in Kansas and one in Arizona. It also offers personal and business banking services as well as mortgage, personal and commercial loans.

Frequently asked questions

Expert review

Kimberly Ellis

Review by


Kimberly 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 $0 lender fees. 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.

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