Mortgage, consumer lending big part of State Bank of Chilton
By Margaret Richman
Margaret Richman photo
Assistant Cashier Suzanne Hostettler (left) and Vice President Kathy Burg work on loan documents at State Bank of Chilton.

Over six decades of well-rounded banking experience provides State Bank of Chilton employees Kathy Burg, vice president, and Suzanne Hostettler, assistant cashier a solid foundation for their role in Mortgage and Consumer Lending.

The two said they are passionate about their work and eager to share the variety of products offered at State Bank and explain the advantages in today’s market.

There is a menu of lending products at State Bank where Burg and Hostettler’s provide expertise in guiding their customers to take advantage of the best available option for them.

“We like to emphasize to anyone desiring a loan that there is no charge to initiate the application process. You will not lose any money exploring your options and we are happy to guide anyone, including those living out of the area, in their search,” Hostettler said.

Loans including traditional secondary market fixed rate loans, WHEDA (Wisconsin Housing and Economic Development Authority), In-House, Home Equity Line of Credit, construction, as well as federal grant programs and more provide a myriad of choices that can overwhelm and confuse the general public. Burg and Hostettler are well versed in the selections and the regulations that accompany each product.

“Most people are familiar with a fixed

rate loan but have limited knowledge of other products. A Home Equity Line of Credit can be utilized for more than home improvements. Currently the home equity loans are at a historic low and are for any need. It is a flexible product that could be used to even purchase a car. A personal loan can be used for multiple reasons, such as car purchase, recreational vehicle, or debt consolidation,” Burg said.

It is not unusual for a first-time home buyer to openly share their anxiety about entering the mortgage world. Hostettler keeps their angst in mind and aims to reduce their worries. “We bring forward all the options that can assist a person in purchasing their home and there are programs out there, many of which can be combined for their benefit. A WHEDA loan is a qualifying income-based loan that has an easy close option. This is a down payment assistance program where nominal money or even no money is needed for down payment. Federal grant programs exist as well. A qualified individual could receive up to $6,000 toward the purchase of a home. Annually, the federal government has offered these grants which are capped. So, it is best to inquire early about the availability of funds,” Hostettler said.

State Bank’s portfolio loan is an inhouse product that can be used when a fixed rate product is not available to a customer; for example, if someone would want to purchase a unique property such as a hobby farm. “Despite recently regulatory changes there are still financing options available for those who want to pursue their dreams,” Burg said.

As Hostettler stated earlier, an applicant need not live in the area. The mortgage loan duo will work via phone, e-mail, and fax to provide the same personal service that takes place with in-person contact.

Acting as a team, Burg and Hostettler consult with one another to provide optimal customer service and their working relationship is noted in the interchange of dialog. “We do see our customers during usual banking hours but also by appointment. We embrace the small bank atmosphere by taking the time to sit down with each of them and thoroughly educate. We ensure that they have an understanding of the products and process and encourage them to ask questions. We provide full disclosure of the entire process and follow our customers from the beginning of the application until closing and the numerous contacts in between. It is not unusual for someone to call us

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