Mortgages & Loans
At Shelby County State Bank, we can offer you:
- All types of financing - First and second mortgages, equity loans, bridge loans, construction loans and supplemental private student loans.
- Pre-approvals - Shop for your new home pre-approved. Put the negotiating power in your hands.
- Personalized service from application to closing - You'll have contact with your Mortgage Loan Originator throughout the process.
- State-of-the-art technology - Utilizing automated underwriting, we're able to pre-approve many loans faster, making your home buying experience easier!
- Bi-Weekly Mortgage Calculator
Once you are pre-approved, the following list will assist you in assembling important information that you'll need for your mortgage loan process.
- Copy of your Purchase Contract, signed by all buyers and sellers (for a purchase transaction).
- Copy of your pay stub(s) covering the last 30 days, for all applicants (e.g., If you're paid twice bi-weekly, you would need to have three pay stubs. Continue to save your pay stubs until after closing.)
- Copy of your W-2 forms for the last two years, for all applicants.
- Copy of your bank statements for the past two months, for all checking and savings accounts.
- Name and address of landlord for the last 24 months, if you're currently renting or have rented in the past 24 months.
- Copy of your 401(k) and IRA statements (if applicable).
- Copy of your investment account statements for the past two months (e.g., mutual fund accounts - if applicable).
If you're self-employed or have commission or bonus income:
- Copies of your last two years' personal and business signed income tax returns.
- Year-to-date Profit and Loss Statement and Balance Sheet. (If self employed)
If you've been divorced:
- Complete signed copy of all divorce decrees, including property settlements, stipulations or modifications.
- Proof of receipt of child support payments for the last 24 months (only if you intend to use to qualify for your mortgage loan).
If you've declared bankruptcy in the last 7 years:
- Copy of the Petition/Decree, Schedule of Creditors and copy of Discharge.
- Please write a letter of explanation on why you filed for bankruptcy.
Miscellaneous (if applicable):
- If you've graduated from high school or college during the past two years, please enclose a copy of your diploma.
- If during the past two years you have a gap in your employment of 30 days or more, please enclose a letter explaining the reason for the gap in employment.
- If you're selling your present home, you'll need to provide us with a copy of your signed HUD-1 Settlement Statement showing the amount of proceeds (if the sale of your home is not yet complete, please provide us with your Realtor's "Estimate of Proceeds").
- If you have rental property, we'll need a copy of your current lease and copies of your last two years' signed federal income tax returns.
- If you're receiving a "gift" for part of your down payment, do not deposit the gift funds until you visit with your Mortgage Loan Originator.
- If your employer is relocating you, please provide a copy of your company's relocation policy.
If you have any questions regarding these items, or if your situation is not addressed by an item contained in these lists, please call us at (712) 755-5112.