Mortgage Loans

Products 

Why Choose Lapeer County Bank & Trust Co.?

  • Your home is the most important investment decision that you can make and we want to make sure your mortgage experience is a good one.  The personal service offered by our experienced loan specialists will assist you through every step of the loan process.
  • You deal directly with the decision makers.  With our automated underwriting system, loan approval is fast.  Best of all, long after your closing, we will continue to service your loan right here at Lapeer County Bank & Trust Co.* If you have questions about your mortgage, you will talk directly to someone in the Retail Lending Department.  You won’t be asked to deal with an automated phone menu or an impersonal voice mail - - just real people.

    *Excludes MSHDA (Michigan State Housing Development Authority) Loans.

Why Pre-Qualify for a Mortgage?

  • With busy lifestyles, time has become an important commodity.  There are numerous advantages in taking the time to be pre-qualified for a mortgage:
    • It’s FREE!
    • It allows you to focus your efforts on looking at homes you can afford
    • It gives the Seller confidence in your ability to purchase
    • It reduces your stress, because you will already know which mortgage product is best for your financial situation
  • The most important factors in qualifying for a mortgage loan are your credit history and your capacity to repay the loan.  Freddie Mac provides a website to help consumers understand what is in their credit report and how to build and maintain good credit. More Info

Understanding the Mortgage Process:

Lapeer County Bank & Trust Co. has loan programs that reach beyond the “conventional financing” standard.  We understand that different households have different needs.  Lapeer County Bank & Trust Co. offers numerous mortgage products that may be key in opening the door for home ownership for you.

  • Loan Application – You may call us or stop by any one of our seven locations to schedule an appointment for your loan application.  Lapeer County Bank & Trust Co. will advise you of the documentation necessary for the particular loan for which you are applying.  At the time you apply, the Loan Specialist will enter your application on the computer, pull your credit report, and collect the appraisal fee.  You will be given a good faith estimate detailing the costs associated with the mortgage and all Federally required disclosures. 
  • Processing – When your loan application is complete, your loan will be assigned to the Processor.  At this level, the appraisal, title policy, and flood certification will be ordered.  Verifications will be mailed and all data will be entered into the automated underwriting system for final approval.
  • Closing – When processing is complete, your Processor will contact you to schedule your closing date, time, and location.  You will be given final closing instructions regarding homeowner’s insurance, and the amount of proceeds you will need to bring or will receive at closing.  The entire mortgage process typically takes 3-4 weeks.

 

 

 

Main Office: 83 W. Nepessing St. • P.O. Box 250 Lapeer, MI 48446