First State Bank   First State Bank of Fayetville, Carlisle, Gurdon, Lonoke, Heber Springs. Springdale
Complete Mortgage Loan Services,
tailor made to fit your needs! 
"In-House" Home Loans:
  • This is what makes First State Bank famous in Arkansas! Competitive rates, strong loan programs, and best of all, fast, local loan servicing - that means you deal directly with us, all the time!

  • "In-House" Terms:

    • 1, 2 and 3 Year Fixed Rate Loans, these loans give you the opportunity to choose various loan options.

    • Our Special 3 Year Fixed Rate is our most popular in house loan.  This mortgage gives you the stability of a fixed rate loan.

Construction Loans:

Construction to Permanent Loan: No one makes financing your new homes’ construction easier than First State Bank! Our Construction Loans  require only one closing, therefore, you pay closing costs just once. Plus, you have a nine-month construction period and your permanent loan rate is locked in up to three years.

Commercial Real Estate Loans:

We’re making Arkansas grow by helping area businesses with their commercial real estate needs. Along with our competitive interest rates, we offer many other advantages such as one, two, and three year balloons.

Consumer Loans:

We make more than just home loans at First State Bank. We’re also there for you when you need financing for boats, cars, education or just about anything else. Our Consumer Loans offer competitive interest rates and flexible terms that will make your purchases even more enjoyable!


Items needed by all applicants

Buyer should bring:

Name and address of employer(s) for the past two years Most recent payroll stubs showing year-to-date information covering the latest 30-day period. Social Security or retirement income verifications.

Proof of disposition of present home by providing either a listing contract, offer and acceptance, or closing statement (HUD 1).
List of all debts-for each including;

  1.Account Number

  2.Monthly Payment

  3.Lender's Address

  4.Current Balance.

Last three statements for each bank account reflecting the:

   1.Bank Address

   2.Type Account

   3.Account number

   4.Current Balance.

Copy of I.D. with photo (driver's license, etc.)

Tax returns for previous two years.

W2s for previous two years.

Owner, Seller or Agent Should Bring:

Real estate contract (offer and acceptance), Verified copy of legal description (deed-abstract), Correct address of property (even if rural), Current taxes and a hazard insurance quote.

Items needed by self-employed applicants:

How to determine if you are considered to be self-employed:

1.You are considered to be self-employed if no Federal withholding tax is deducted from your earnings.

2.If you are the principal stockholder in a corporation or a partner in a legal partnership, you are considered to be self-employed, even if you are drawing a salary.

You should bring:

The past three years signed personal tax returns, Year to date profit and loss statement, Current balance sheet (financial statement). If you are a principal stockholder in a corporation or a partner in a partnership, you should bring:

The past three years tax returns for the corporation or partnership reports

Corporation profit and loss statement - year to date

Copy of corporation minutes authorizing salary

Remember these special requirements:

All tax returns must be signed by the taxpayer. All balance sheets, profit, and loss statements, and other financial documents must be signed by the borrower. All financial data must be in detail, itemizing the individual liabilities, expenses, and income sources.

When calculating your income to payment ratios:

  1.Real estate depreciation can be added back to your income

  2.Equipment depreciation can not be added back to income

Items needed for proposed construction or suggested exhibits:

Floor plan including measurements

Foundation plan


Cabinet detail

Cross Section footing, foundation, walls and attic

Truss detail with architect's stamp

Heat duct layout with register size

Plot plan, including:

Existing elevations on corners of lot

Show all walks, drives, and dwelling

Finish floor elevation noted

Location of well and septic tank

Full legal description

All lot dimensions shown


Model and make of all


  2.Electrical equipment

  3.Plumbing fixtures

Must be signed by builder and buyer

Should be well coordinated with the plans

Department of Health approval on proposed septic and well

Detailed contract between buyer and builder

Complete cost breakdown

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