M News: What's New With Us. What Matters To You.October 7, 2017 6:44 pm
Finding the right mortgage lender involves more than just getting the best interest rate. If you want the quickest way home, start at your local community bank where local mortgage lenders give you their time and their direct line. You get the guidance and answers that get you in your home faster with a local mortgage and a lending experience built to last.
When you’re first starting to look for a mortgage loan, it’s important to get ready. Local mortgage lenders can work with you to analyze your credit score and overall financial picture so that you can get pre-approved for your mortgage or new construction loan. This helps you show sellers you are a quality buyer that will be able to close on a loan.
To get preapproved, you’ll have to provide lenders with a fair amount of financial information. Here’s a quick list to get you started:
Account Info: bank, savings, checking, investment account information.
Debts: outstanding debt obligations, including credit card, car loan, student loan and other balances.
Tax Returns: two years of tax returns, W-2s and 1099s.
Personal: salary and employer information and social security numbers for yourself and any co-borrowers.
Down Payment: information about how much of a down payment you can make, and where the money is coming from.
Why should you be attracted to work with a local mortgage originator vs a bigger bank or one of the national mortgage lending companies? According to Brandon McCain, a local lender in Merchants Bank’s Arab office, it’s important to work with a mortgage staff that is familiar with the better mortgage programs that work in our local market places. “The strong point of Merchants comes from our over 100 years of history here,” he said. “Local lenders are able to offer the client more attention, a better one-on-one approach and more personable customer service.”
McCain added that at a community bank, you don’t always have to fit a profile to get that loan that fits. “We can have more flexibility and options to get our customers into the mortgage that feels as right as their dream home,” he said.
Whether you need to check the latest rates for a refinance or purchase, you want to learn more about specific loan products, or you’re ready to start the process, we’re here to help. Call one of our local mortgage originators or stop by and feel as good about your bank as you do about your dream home.
Ready to buy?
Find the local Merchants Bank lender nearest you.
Ready to build?
We specialize in new construction loans and Smith Lake lending. Get approved for your new construction loan and your permanent mortgage loan at the same time.June 20, 2017 1:14 pm
We’re a small business friendly bank and have been since 1907. Community banks make over half of small business loans employing 2 out of 3 people. Because community banks are themselves small businesses and are local, they understand the needs of small business owners especially when it comes to small business lending and way better business banking. Their core concern is lending to small businesses and farms. The core concern of the mega banks is corporate America. We have added three small business success stories featuring our small business customers: Top Hat Barbecue, Van’s Sporting Goods and Werner’s Trading Company. Read about why Merchants is their small business bank of choice.June 22, 2016 1:44 pm
Is a new house on your bucket list? Get the new construction loan packed with advantages such as upfront approvals for both the construction loan and your permanent mortgage at the same time. And if Merchants finances both loans (construction and perm), then we only charge you closing costs once. We also don’t limit the amount or frequency of your construction draws, giving you greater flexibility and peace of mind. And throughout the homebuilding process, your Merchants lender offers critical service and support to help you through one of the most exciting times of your life.
When you are ready to build, the last thing you need is watered down banking. Build, remodel or buy with a bank that treats you like a big fish. And makes your dream a big priority. Call Michelle Kimbrough at 256-735-2505 or Wanda Folds at 256-735-2994 today.June 11, 2015 10:41 pm
Now you can complete bank transactions including depositing a check at the soccer field, in the carpool line, even in line at the grocery store. While life sometimes keeps you waiting, your bank never will.
With the new Mobile Deposit feature, you save time by eliminating a trip to the bank to deposit a check. Whenever you have a check in your hand, simply use the Merchants Mobile App and take a photo of your check with your smart phone to make the deposit.
Life in our communities is faster paced than ever, so being a great community bank means keeping step with the latest and best technology. With Merchants Mobile, you get full service banking by pulling your smart phone out of your pocket, not taking time out of your day.