• Why Flanagan State Bank?
• Mortgage Programs
• Special Offers
• Download Application
• Rates
• The Mortgage Team
• Testimonials

Why Flanagan State Bank?

• Personal Service - Our Loan Officers desire to be a financial planner verses quoting the same program for all people or one-size-fits-all. There are a myriad of programs and terms that exist in today's market. Depending on your circumstances and goals, one program may be advantageous over another. We will customize the loan to fit your needs. In addition, our Loan Officers are involved in every facet of your mortgage and will even be present during closing which is a rarity in today's marketplace.
• Free Pre-Qualifications - Not only will we pre-approve you for a new home purchase at no cost but we will also analyze various programs or competing offers with an honest opinion and supporting documentation. Many times what may appear to be the best deal based on rate is really the worst deal due to excessive closing costs or terms of the loan.
• Local Lending Decisions - Most decisions on loan approval can be made while you are sitting at the Loan Officer's desk during application or within an hour of a phone application. You can have peace of mind verses waiting several weeks for some out-of-town underwriter to approve the loan.
• Choice of Servicing - We will always give you the choice of having your loan serviced locally by us or having the loan brokered to secure the best possible rate available. Either way, we will be personally available throughout the loan process and loan decisions are still made locally by us.
• Competitive Rates and Costs- We are willing to compare our rates and costs with anyone in the market and are not ashamed to give you a good faith estimate to prove it. Be careful of a lender not willing to disclose costs up front and in writing.

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Mortgage Programs

• Fixed Rate Mortgages
• Adjustable Rate Mortgages
• Balloon Reset Loans
• 80-20, 80-15-5 and 80-10-10 loans
• Lender Paid Mortgage Insurance
• Interest Only Loans
• No Income or Stated Income Loans
• Jumbo-Fixed and Adjustable
• Investment Properties
• 2nd Mortgages- Fixed and Home Equity Lines of Credit
• Construction and Lot Loans
• IHDA 1st Time Homebuyer
• Rural Housing
• Sub-Prime (For lower credit scores)
• Grants and Mortgage Credit Certificates
• Other Niche or Special Programs

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Special Offers

LENDER PAID COSTS - For loans in excess of $175,000, Flanagan State Bank will pay $600 of the closing costs.

NO CLOSING COSTS- For any loan there is always a no closing cost option. With this option the rate would be slightly higher but the bank pays all closing costs. Typically this translates in to the rate being 0.125% to 0.375% higher depending on the size of the loan. This is especially attractive for borrowers who think they may only be in the home a short time, refinancing, or those who need their savings for down payment or furnishings for the new home.

DOWN PAYMENT ASSISTANCE - Depending on availability, Flanagan State Bank can secure grants of up to $5,000 for eligible borrowers. There are no payments or interest on these grants. Borrowers must meet the criteria of the grants which typically include income and purchase price limitations. Depending on the particular grant, borrowers may need to be first-time home buyers and attend financial counseling.

MORTGAGE CREDIT CERTIFICATE - Depending on availability, the State will issue MCC's, which entitles the holder to a larger income tax deduction than what would normally be allowed under tax law. Depending on the loan size, this savings could be $2,000 per year. The qualifications of this program are similar to the grants. This program is usually funded in February or March and due to its popularity, is depleted fairly quickly.

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Download Application

Printable 1003 application

The following items are typically needed for a mortgage loan:

• Last two years W-2's,
• Last two pay stubs,
• If self-employed, last two years tax returns with all schedules,
• Last two months bank statements,
• If paying or receiving child support or alimony, a copy of the court order and proof of receipt if relying on the income to qualify, and
• Drivers License

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Rates

Contact a Loan Officer for a personalized rate quote.

The Mortgage Team

Scott Swope

Scott Swope has been in mortgage lending for 21 years and is the Senior Vice-President in charge of mortgage lending. Scott grew up in Hudson and currently resides in Bloomington with his wife Deanna and four children. Scott has a double degree in Business Administration and Finance. He was on the President's List and a member of Phi Theta Kappa National Honor Society.

Scott takes a financial advisor approach to mortgage lending realizing that a one-size loan is not right for everyone. Depending on the client's goals or situation, Scott will recommend several options and will lay them out side-by-side to discuss the benefits of each. Scott is also a income tax expert and can easily analyze complex tax returns; this can often make the difference on whether a loan is approved or not. Scott prides himself on making the mortgage process painless with absolutely no surprises and is extremely proud that no one has ever complained at a closing that the costs, terms or conditions were not as presented at application.

Shelly Shoop

Shelly has been helping customers with their home loans since 1996. She is an Illinois State University graduate with a B.S. in Business Administration. Her passion for helping people led her into the mortgage business. She treats her customers the way she would want to be treated. She is patient, knowledgeable and empathetic, always giving her customers several options before directing them to the best product that suits their needs.

"I love getting to know the people I meet! Every customer's situation is unique, so asking the right questions and then listening is my #1 priority. Finding out their short term-and long-term goals helps me guide them in the right direction. I might spend more time with my clients, but I believe it's necessary when they are making one of the biggest investment decisions of their life."

When she isn't working, Shelly loves to cook, read, rollerblade, play golf and listen to a variety of music. She has a knack for decorating and graphic design. She also enjoys watching the Home Improvement channel, House and American Idol. Shelly and her family reside in Bloomington, Illinois.

Flanagan
124 S. Main Street
Flanagan , IL 61740
Phone 815-796-2264; fax 815-796-2624

Doug Carls

Doug Carls was born and raised in Flanagan.  Doug graduated from Illinois State University in 2000 majoring in Finance.  He joined Flanagan State Bank as a Loan Officer and has been with the bank in Flanagan for six years.

Doug is also a licensed realtor and enjoys helping people find the right home for their needs. One of Doug's hobbies is fixing up homes. He is involved with a variety of things in the community. He is a member of Flanagan Lions Club, he serves on the Village of Flanagan Board of Trustees, and he serves on the board of directors of the Good Samaritan Home. He lives in Flanagan with his wife Amber. 

El Paso
111 N. Fayette Street
El Paso , IL 61738
Phone 309-527-7300; fax 309-527-7309

Alex Betts

Alex Betts graduated from El Paso High School in 1995 and went on to attend Illinois Central College in East Peoria. Alex worked for Rebbec Motor Company for three years before an opportunity for advancement moved him to Heller Chevrolet in Chenoa. He has been with Flanagan State Bank for seven years and enjoys serving his hometown and surrounding communities.

Alex is a native of El Paso; his wife Julie and daughter Makayla have always made their home here. They are anticipating the arrival of another addition to the family in June 2007. Alex and his family are members of Community Bible Fellowship in El Paso where he enjoys working with the Jr. High youth. His hobbies include classic hot rods and Harley Davidson motorcycles.

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Testimonials

Scott Swope believes that referrals are the best source of business and letters from clients prove it:

"We are writing to express our gratitude to Flanagan State Bank for having Scott Swope on staff. A friend gave us his business card saying how helpful he was to her. We called Scott and our dream of owning our first home came true; none of it would have been possible without Scott's help. We felt like we were FINALLY talking to someone who was interested in helping us. Scott worked with us by pointing out what we needed to do and explained where we might run into problems."

"In closing, Scott is a huge asset to Flanagan State Bank and we will continue to go to Scott for any and all of our financial needs in the years to come. Thank you Flanagan State Bank for introducing Scott to our family."

Lisa and Jeff B.

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