FDIC-Insured – Backed by the full faith and credit of the U.S. Government
Buy a Home
Whatever your needs and financial situation, Coleman County State Bank has a variety of mortgage loans available to get you in the home of your dreams. We'll help you understand the differences and guide you through the mortgage process from start to finish.
Mortgage Loan Options for Your Lifestyle and Budget
VA Loan
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 Loan
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%.
USDA Loan
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 Loan
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.
Conventional Loan
A conventional loan offers more flexibility to borrowers, as it is not insured or guaranteed by any government-backed agency.
Jumbo Loan
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.