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Advantages of Working with a Community Bank for Your Mortgage

Advantages of Working with a Community Bank for Your Mortgage

Summer is often the time of year when purchasing a new home or remodeling your current home is top of mind. With the many financing options available, you may think, “Why work with a community bank for my mortgage?”

Each community bank has its own unique approach to doing business and, as the title suggests, a close tie with the community it serves. Local banks can often provide a more personal touch when it comes to serving any of your financial needs and benefits, especially when it comes to taking out major loans, such as a home mortgage. As a local lender in Central Iowa for over 100 years, Bankers Trust has established itself as a community-minded servant. Here are some examples of the difference you could experience when working with us:

Product offering is based upon your needs

Our in-house loan products have been developed through experience of working with customers, so they’re based upon your needs. From fixed rates loan products to Adjustable Rate Mortgages, we hope to step up to the plate when your situation is outside the box of Fannie Mae lending requirements. “Make sense” underwriting has earned us the reputation to save those difficult financing situations that national financial institutions may turn away.

Local decision making

Speaking of underwriting, one of the benefits of working with a community bank like Bankers Trust is that underwriting happens right here in Des Moines (or Cedar Rapids or Phoenix), allowing for quick turn times. No sending your loan file to an underwriter in Timbuktu! Local decision-making is not only more efficient, but having the ability to discuss your file with the underwriter is invaluable.

Community bank pull quote

Closing takes place with your local lender

At Bankers Trust, we distribute checks the day of closing and have the opportunity to wish you well in your new home, in person! We will even provide you with your abstract at closing, and we can accept a personal check for any cash you may have due at closing.

Easy ability to refinance when the time’s right

Refinancing your mortgage for an improved interest rate, or to take some equity cash out for home repairs, college expenses, or vacation cash, is also our forte. Your local mortgage banker can run the numbers for you to see if you can benefit from a refinance.

Help with a full array of other financial needs

If you’ll soon be undertaking a significant home improvement, repair or other major expense, a home equity line of credit may be just what you need. This loan is based upon the equity you have in your property and is a very personal way to borrow money. You will get approved for a certain amount, and the money will sit in an account waiting for you to spend it. You are only charged interest for the money you take out of the account. Much like the cash-out refinance mentioned above, you can spend the money for whatever fits your needs at the time.

Next steps:

  1. Ready to buy? Start your mortgage application online with us.
  2. Subscribe to regularly receive tips and articles related to Homeownership in your email inbox.
  3. Contact us to learn more about working with Bankers Trust on your home mortgage, refinance or a HELOC.
Mortgage Team

Mortgage Team

(515) 248-1320

Bankers Trust’s team of mortgage originators have the expertise to guide you through a number of homeownership topics, including buying a home, choosing a mortgage type, obtaining a home equity loan or line of credit and much more. Browse through our library of articles, videos and infographics and don’t hesitate to contact Bankers Trust’s mortgage origination office to learn more about customized solutions for your situation. When you meet with one of our loan originators, who have an average of 25 years of experience, you see that experience makes the difference. Learn more about our team here or give us a call at (515) 248-1320.

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