Mortgage Loans

Mortgage Loans

Purchasing or refinancing a home is one of the biggest financial decisions most people will ever face. Home ownership can be both an exciting and difficult decision. Make the decision easier by letting our local lending professionals answer your questions and help guide you through the maze of home ownership!

Determining what you can afford?

The loan process begins with pre-qualification. During the pre-qualification process we will help you determine how much money you should be able to borrow based on your income. This helps you determine the price range of houses you could buy. Often, realtors request you to be pre-qualified before showing you a property. After answering a few questions, your Farmers Savings Bank mortgage specialist will tell you the amount you are pre-qualified to borrow. Below is an example of what you may be asked to provide:

  • Length of employment at current job
  • Gross monthly income
  • Current homeowner or renter status
  • If you plan to sell your current home before purchasing a new one
  • Monthly payments on credit cards, vehicles and other debts
  • Your credit score

Please note that pre-qualification doesn’t mean your loan is approved. It is designed to give you a general idea of how much money you may be eligible to borrow.

Contact us to schedule an appointment to visit with a mortgage professional about purchasing or refinancing a home.

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