Backed by the U.S. Department of Veterans Affairs, a VA loan allows active duty and reserve service members, U.S. veterans, and widowed military spouses to purchase a home. It’s a popular loan option because credit score requirements are lower, and there is no down payment or private mortgage insurance (PMI) requirement.
FHA loans are backed by the Federal Housing Administration and are most appealing to first time-home buyers. Credit score requirements are typically lower, and the down payment can be as low as 3.5%.
A USDA loan appeals to buyers purchasing in qualifying rural areas, as these loans are backed by the United States Department of Agriculture. This is an attractive option particularly for first-time home buyers because there is no down payment requirement, PMI is lower, and qualification may be easier.
In-house financing refers to a mortgage loan that is made and kept by the bank rather than selling to a third-party lender. It offers more flexibility to borrowers than other traditional lending options. It also allows borrowers to work with the same mortgage team from start to finish, and beyond.
A conventional loan offers more flexibility to borrowers, as it is not insured or guaranteed by any government-backed agency.
A jumbo loan is a home loan that exceeds the Federal Housing Finance Agency’s (FHFA) conforming loan limits and is a great option when purchasing a high-priced or luxury home.
Routing Number: 111321814
SWIFT Code: TIBBUS44
Your privacy is very important to us. We would like to advise you that Internet email is not secure. Please do not submit any information that you consider confidential. We recommend you do not include your social security or account number or other specific identifying information.
You are leaving Coleman County State Bank's Web site and linking to a third party site. Please be advised that you will then link to a Web site hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Coleman County State Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Coleman County State Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.