BIG News: Jumbo loans Are Now Available

Have you ever tried to obtain a Jumbo loan and had trouble finding a source?  State Savings Bank is pleased to announce that we now offer Jumbo loans, a specialty home loan which few lenders in the Des Moines area offer.

• You're contemplating a new home purchase and will need to finance more than $424,100.
• You currently have a fixed-rate mortgage with a balance greater than $424,100.
• Your current interest rate is over 4.875%.
• Your established equity is at least 20-30% of its appraised value.
• You're looking for a source of funds to improve your home or for other purposes. 

Rising Interest Rates: 4 Things You Should Know

1. On Wednesday, March 15, the Federal Reserve raised the federal funds interest rate by 0.25%.
2. This hike impacts both prime rate and some loan rates, particularly consumer credit tied to the prime rate, such as variable rate credit cards, adjustable rate mortgages, HELOCs, and some types of student loans. A majority of business loans will also be affected.
3. This is the first of three anticipated increases for 2017. Until now, the Federal Reserve had only increased this rate twice since 2008.
4. If you have variable rate loans, or are anticipating new borrowing, we recommend speaking with your lender soon to see what impact this rising rate environment may have on your current situation and future plans.

Corporate Security Threats

We are seeing an increasing number of fraud attempts aimed at corporate customers. To combat this, we've put together an educational presentation and are available to present this to business owners or to their employees.

This information will include:

• Security risk trends nationwide
• What we see happening locally
• What businesses can do to educate their employees
• What businesses can do to protect themselves from ransomeware and e-mail compromise