SELECT BANK OFFERS THE
BEST MORTGAGE RATES
For new mortgages or refinancing your existing mortgage, we're the best!
 
Residential Mortgage Products
Why shop around? We have the solutions for your mortgage financing. Purchasing, refinancing, new construction or lot loan financing, we're here to help you with a product to meet your needs.

• Fixed Rate Mortgages
• Adjustable Rate Mortgages (ARM's)
• Balloon Reset Mortgages
• FHA and VA Mortgages
• Fixed Rate and Adjustable Rate Jumbo Mortgages
• Fixed Rate Financing for 1-4 Family Investment Properties
• Construction Financing
• Vacant Land Financing
• Non-Conforming Balloon Mortgages
• No-Income and Stated Income Mortgages
• 95%, 97% and 100% Financing
• Credit Solution Mortgages

For current rate and term information or any other questions regarding real estate financing, please contact our mortgage specialist, Don Scott, at 616.454.8447 or .

How to Apply for a Mortgage

To begin the process of a mortgage loan, you will need to complete a loan application form. You may then schedule an appointment. The following is a list of items you should include with your application.

Mortgage Application:

• W-2's for the previous 2 years.
• Paystubs showing one month of income.
• Most recent 3 months deposit and investment statements.
• Self employed borrower – previous 2 years personal tax returns with all supporting schedules.
• Copy of purchase agreement or sales contract.
• Construction/Permanent loan – signed construction contract with cost breakdown and builder plans.

Additional information may be requested:

• Business tax returns.
• Copy of divorce decree or separation agreement.
• Renters – Landlord's name and address.
• Gift letter if down payment is a gift.

NOTE: This checklist is for your general information only. Your lender may require additional information based on your particular set of circumstances.

Home Equity Loans

If you are a home owner, using the equity in your home is one of the most cost-effective ways to borrow money.

Why?

Because the interest on these loans is usually tax deductible.  The interest that you pay on other loans is not.  Please consult with your tax advisor on the deductibility of interest. Also, loans secured by a home normally carry a lower interest rate.

How much do I qualify for?

You may be able to borrow up to 90% of your home's appraised value less any mortgage balance outstanding.  For example:

Let's assume that your home just appraised for $120,000 and your 1st mortgage at the bank is $65,000.

90% of $120,000	=	$108,000
Less the 1st Mortgage	=	-  65,000
Available Equity	=	$  43,000

When should I use a home equity loan?

These loans are ideal for large expenditures, remodeling costs, or debt consolidation.  They can be amortized over varied lengths and the fixed rate guarantees that the payment will not change.  Please contact our offices for current rates and terms.

When should I use a home equity line of credit?

A credit line is the solution for those who want the flexibility to borrow on an as needed basis.  You are billed for interest only on the funds that you have used and principal may be paid at any time.  Once the principal is paid, it becomes available to borrow again.