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Call Us: 815-894-2345 | Fax: 815-261-5902
Routing #071112176 | NMLS #509252

Loan Options

Why Choose State Bank of Cherry

State Bank of Cherry offers many competitive fixed and adjustable rate products to help you purchase, build or refinance a home. We will walk you through the process to get you in the right product for your needs.


Purchase: Primary Residence / Vacation Home / 2nd Home

Helping you find the right loan for your new home is our specialty.

Refinance: Primary Residence

New Construction / Home Improvement

Building a new home or renovating an existing one – Let us take the stress out of the loan process so you can focus on paint colors.

Home Equity Line of Credit

Home equity line of credit can be used for various items, including: home repairs, college expenses, vacation, consolidate debt; the possibilities are endless.

Auto & Recreational Loans

We offer auto and recreation loans for a variety of new and used vehicles. Talk to us today about competitive terms and rates.

Personal Loans

Short term financing is available for loans with smaller amounts.

Mortgage Loan Officer

JoAnna Engels

Phone: 1-815-894-2345

Email: jengels@cherry.bank

NMLS: 719022

State Bank of Cherry NMLS: 509252 | Do not include confidential information in emails.

I love the kindness and willingness to always help me when I come in there.
-Melissa S.

Purchase: Primary Residence / Vacation / 2nd Home

  • Up to 30-year fixed rate financing
  • 5 year adjustable rate amortized up to 20 years
  • As low as 3% down with PMI (Private Mortgage Insurance) approval

Refinance: Primary Residence

  • Up to 30-year fixed rate financing
  • Cash out up to 80% loan to value

New Construction / Renovations

Building a new home or renovating an existing one – Let us take the stress out of the loan process so you can focus on paint colors.

  • 6-12-month construction period
  • 20% down

Home Equity Line of Credit

Revolving line of credit that uses your home's equity. Home equity line of credit can be used for various items, including: home repairs, college expenses, vacation, consolidate debt; the possibilities are endless.

Business Investment Property

Rental property from single family to multi-unit properties; we can help.

  • Purchase
  • Refinance
Personal service. Very professional. Make you feel at home.
-Gene A.

Helpful Resources

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