Rational Lending, The Bank, The Lender
Rational Lending - Single-Family Residence Financing for Qualified Individuals who either do not want to go through the rigorous requirements of secondary market financing such as Fannie Mae or Freddie Mac, or who do not specifically fit the models.
The Bank: First State Bank, Athens, Texas
First State Bank is a family-owned East Texas community bank with assets of $701,532,734 as of November 8, 2022. The Bauer Financial most recent rating for the financial institution is
5-Star - Superior.
- Flexibility when reviewing credit reports, income statements, and tailoring loan terms
- FSB will consider one-time closing for purchase and improvements to home
- Flexibility when considering Debt-to-Income (DTI) as it relates to "qualified" and "nonqualified" loans - i.e., a critical factor when qualifying for Fannie Mae and Freddie Mac loans.
- Will consider collateral that is in addition to the property being purchased
- These are Portfolio Loans which means that FSB keeps and services the loans. This affords borrowers the flexibility to reduce and reamortize loans; modify terms to better fit new circumstances; ease of applying for home improvement loans.
The Lender: Daniel A Dwelle
Dan, an Executive Vice President of the bank, has resided in Santa Fe since 2009 and maintains a home in Athens. He has been a member of the board of directors and a stockholder since 1983 and is actively involved in mortgage and commercial lending. His wife, Barbara Christian, is a 30 – year resident of Santa Fe and was the branch manager of the former A.G. Edwards office.
The Mortgage Program, Why Would A Buyer Use It?
First State Bank (FSB) seeks to serve homebuyers who wish to finance through a
General Loan Requirements / Structure
- Owner-Occupied, Single Family Residence - Not necessarily Primary Residence
- Loan to Value (LTV) limits apply. Calculated on the lesser of the purchase price or the appraised value.
- Additional Collateral - Will consider additional collateral to achieve the Loan to Value requirement. For example: FSB Certificate of Deposit; equity in currently owned residence in Santa Fe area; assignment of investment account; assignment of life insurance cash value.
means other than conventional secondary markets such as Fannie Mae or Freddie Mac. The advantages of this program include:
- Ease and convenience of personally working with the loan officer who will be presenting the loan for approval to the bank loan committee
- Amortization Periods - Flexible, based on the borrower's needs and qualifications.
- Adjustable Rate Periods - Rates quoted for initial fixed-terms on residences. Following the initial fixed-rate term, rates will be subject to adjustment as established at loan closing.
Rational Lending - Single-Family Residence Financing for Qualified Individuals who either do not want to go through the rigorous requirements of secondary market financing such as Fannie Mae or Freddie Mac, or who do not specifically fit the models.
The Bank: First State Bank, Athens, Texas
First State Bank is a family-owned East Texas community bank with assets of $701,532,734 as of November 8, 2022. The Bauer Financial most recent rating for the financial institution is
5-Star - Superior.
- Flexibility when reviewing credit reports, income statements, and tailoring loan terms
- FSB will consider one-time closing for purchase and improvements to home
- Flexibility when considering Debt-to-Income (DTI) as it relates to "qualified" and "nonqualified" loans - i.e., a critical factor when qualifying for Fannie Mae and Freddie Mac loans.
- Will consider collateral that is in addition to the property being purchased
- These are Portfolio Loans which means that FSB keeps and services the loans. This affords borrowers the flexibility to reduce and reamortize loans; modify terms to better fit new circumstances; ease of applying for home improvement loans.
The Lender: Daniel A Dwelle
Dan, an Executive Vice President of the bank, has resided in Santa Fe since 2009 and maintains a home in Athens. He has been a member of the board of directors and a stockholder since 1983 and is actively involved in mortgage and commercial lending. His wife, Barbara Christian, is a 30-year resident of Santa Fe and was the branch manager of the former A.G. Edwards office.
General Loan Requirements / Structure
- Owner-Occupied, Single Family Residence - Not necessarily Primary Residence
- Loan to Value (LTV) limits apply. Calculated on the lesser of the purchase price or the appraised value.
- Additional Collateral - Will consider additional collateral
branch manager of the former A.G. Edwards office.
The Mortgage Program, Why Would A Buyer Use It?
First State Bank (FSB) seeks to serve homebuyers who wish to finance through a means other than conventional secondary markets such as Fannie Mae or Freddie Mac. The advantages of this program include:
- Ease and convenience of personally working with the loan officer who will be presenting the loan for approval to the bank loan committee
- to achieve the Loan to Valuerequirement. For example: FSB Certificate of Deposit; equity in currently owned residence in Santa Fe area; assignment of investment account; assignment of life insurance cash value.
- Amortization Periods - Flexible, based on the borrower's needs and qualifications.
- Adjustable Rate Periods - Rates quoted for initial fixed-terms on residences. Following the initial fixed-rate term, rates will be subject to adjustment as established at loan closing.
Rational Lending - Single-Family Residence Financing for Qualified Individuals who either do not want to go through the rigorous requirements of secondary market financing such as Fannie Mae or Freddie Mac, or who do not specifically fit the models.
The Bank: First State Bank, Athens, Texas
First State Bank is a family-owned East Texas community bank with assets of $701,532,734 as of November 8, 2022. The Bauer Financial most recent rating for the financial institution is
5-Star - Superior.
The Lender: Daniel A Dwelle
Dan, an Executive Vice President of the bank, has resided in Santa Fe since 2009 and maintains a home in Athens. He has been a member of the board of directors and a stockholder since 1983 and is actively involved in mortgage and commercial lending. His wife, Barbara Christian, is a 30 - year resident of Santa Fe and was the branch manager of the former A.G. Edwards office.
The Mortgage Program, Why Would A Buyer Use It?
First State Bank (FSB) seeks to serve homebuyers who wish to finance through a means other than conventional secondary markets such as Fannie Mae or Freddie Mac. The advantages of this program include:
- Ease and convenience of personally working with the loan officer who will be presenting the loan for approval to the bank loan committee
- Flexibility when reviewing credit reports, income statements, and tailoring loan terms
- FSB will consider one-time closing for purchase and improvements to home
- Flexibility when considering Debt-to-Income (DTI) as it relates to "qualified" and "nonqualified" loans - i.e., a critical factor when qualifying for Fannie Mae and Freddie Mac loans.
- Will consider collateral that is in addition to the property being purchased
- These are Portfolio Loans which means that FSB keeps and services the loans. This affords borrowers the flexibility to reduce and reamortize loans; modify terms to better fit new circumstances; ease of applying for home improvement loans.
General Loan Requirements / Structure
- Owner-Occupied, Single Family Residence - Not necessarily Primary Residence
- Loan to Value (LTV) limits apply. Calculated on the lesser of the purchase price or the appraised value.
- Additional Collateral - Will consider additional collateral to achieve the Loan to Value requirement. For example: FSB Certificate of Deposit; equity in currently owned residence in Santa Fe area; assignment of investment account; assignment of life insurance cash value.
- Amortization Periods - Flexible, based on the borrower's needs and qualifications.
- Adjustable Rate Periods - Rates quoted for initial fixed-terms on residences. Following the initial fixed-rate term, rates will be subject to adjustment as established at loan closing.
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