• 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 financial planners versus quoting a one-size-fits all product. There are a myriad of programs and terms that exist in today's market. Flanagan State Bank takes the time to customize a loan designed to meet your individual needs, circumstances, and goals. 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 versus 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 will still be 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

• FHA
• Fixed Rate Mortgages
• Adjustable Rate Mortgages
• Balloon Reset Loans
• Lender Paid Mortgage Insurance
• Interest Only Loans
• Jumbo-Fixed and Adjustable
• Investment Properties
• Construction and Lot Loans
• IHDA 1st Time Homebuyer
• Rural Housing
• Grants and Mortgage Credit Certificates

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Special Offers

NO CLOSING COSTS- For any loan there is always a no closing cost option. With this option the rate is slightly higher but the bank pays all closing costs. Often times this translates into 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, those 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 generally include income and purchase price limitations. Borrowers may also need to be first-time home buyers and attend financial counseling.

MORTGAGE CREDIT CERTIFICATE - Depending on availability, the State will issue MCCs, which entitle the holder to a larger income tax deduction than what would normally be allowed under tax law. For some loans, this savings could be up to $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
• Drivers License

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Rates

Contact a Loan Officer for a personalized rate quote.

The Mortgage Team

Scott Swope, Bloomington Branch

Scott Swope is the Senior Vice-President of mortgage lending and has been with Flanagan State Bank since 2003. He grew up in Hudson and currently resides in Bloomington with his wife Deanna and four children. Scott has degree in Business Administration from Illinois Central College as well as a Bachelor of Science in Finance from Illinois State University. He was on the President's List at ICC and the Dean’s
List at Illinois State. Additionally, Scott was a member of Illinois State University’s 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 an 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, Bloomington Branch

Shelly has been helping the customers of Flanagan State Bank since 2006. 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, for Shelly 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.

Victor Arreola, Bloomington Branch

Victor Arreola joined Flanagan State Bank in 2009 with several years experience in the mortgage lending industry and is the founder of the first Latino BNI (Business Network International) Chapter. He worked for Mitsubishi for ten plus years before making the transition into the mortgage business. Victor was born in Guadalajara, Mexico and was raised in Bloomington, Illinois. He graduated from BHS and attended Lincoln College in Normal. Victor currently resides in Normal with his wife, Jennifer, and their three children.

Victor is fluent in Spanish and is proud to have helped many Hispanics reach their dreams of owning a home. He has a strong passion for customer service and will walk you through all the phases of your loan process. When Victor is not working, you can find him on the golf course or spending time with his family and friends.

Doug Carls, Flanagan Branch

Doug Carls was born and raised in Flanagan, Illinois. Doug graduated from Illinois State University in 2000 with a major in Finance. He joined Flanagan State Bank as a Loan Officer in 1999 and currently works out of our branch in Flanagan.

Doug is also a licensed realtor and enjoys helping people find the right home to fit their needs. He is involved with a variety of things in the community including membership to Flanagan Lions Club and serving on the Village of Flanagan Board of Trustees and the board of directors of the Good Samaritan Home. He also enjoys fixing up homes in his spare time. Doug currently resides in Flanagan with his wife Amber.

Alex Betts, El Paso Branch

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 since 2000 and enjoys serving his hometown and surrounding communities.

Alex is a native of El Paso; his wife Julie and two daughters have always made their home there. Alex and his family are members of Community Bible Fellowship in El Paso where he enjoys working with the Jr. High youth. Alex also has interest in classic hot rods and Harley Davidson motorcycles.

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Testimonials

Following are referrals and letters from past and current clients:

"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."

"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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