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Mortgage & Home Equity Loans

Flora Bank & Trust offers a variety of mortgage loans and terms to help put your dream house within reach.


Reasons to Get a Home Loan

  • Purchase a new home
  • Refinance your home
  • Home Improvement
  • Home Construction

Types of Loans

  1. 1. Fixed-Rate Real Estate Mortgages
    • Flora Bank & Trust offers fixed rate mortgages allowing you to lock in your interest rate for the entire term of your loan. The advantage to a fixed-rate mortgage is that your monthly payment never changes. Terms go up to 30 years; typically the shorter the loan term, the lower the interest rate.
  2. 2. Balloon Mortgages
    • We also offer Balloon mortgages that start with a rate good for a fixed period, typically 3, 5, or 10 years, after which the rate adjusts to the current market rate. Payment due dates, and amortization periods are flexible. Flora Bank & Trust retains the servicing on these loans so your payments will be made locally. Decisions on loans are made locally.
  3. 3. USDA Guaranteed Loans (First-Time Home Buyers)
    • We offer USDA Guaranteed loans to customers who may not have a down payment on a home. We can finance up to 100% of the purchase price of the home plus closing costs — subject to qualification for the program. These are 30-year fixed-rate loans.
  4. 4. Flexible Options for New Home Construction
    • Whether you are building a custom home, purchasing a home that needs major renovation or renovating your existing home, Flora Bank & Trust can help with your home financing needs.


Frequently Asked Mortgage Questions:

What information do I need to bring with me when I meet with a loan officer?


  2. W-2's for the last 2 years. 
  3. Most recent pay stub. 
  4. 2 months of statements for non-FB&T deposit accounts. 
  5. If self-employed, last 2 years tax returns with all supporting schedules. 
  6. Retirement account statement, if applicable.
What can I expect when buying a home?


  2. Pre-Qualify - Meet with a loan officer to determine what type and amount of loan for which you might qualify.
  3. Make an Offer - Meet with realtor/seller to make an offer to purchase the property.
  4. Bring Accepted Offer In - Bring in a copy of your signed purchase agreement after your offer is accepted.
  5. Appraisal - An appraisal is ordered by the bank for an independent assessment of the market value of the property.
  6. Title Work/Deed Preparation - A search of public records is done to determine what liens (if any) need to be released to convey clear title to the property to the buyer. A warranty deed is prepared; transferring ownership of the property from the seller to the buyer.
  7. Homeowner's insurance - Prior to closing, a binder of insurance coverage must be provided to the bank, showing that coverage is effective the day of closing.
  8. Closing - This is the day you meet with the bank, realtor(s) and sellers to sign your loan documents, pay your remaining down payment and actually take ownership of the property. Depending on your purchase agreement, you may or may not take possession on this date.
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