Buying a house involves getting approval for a large amount of money through a loan. You are not getting approval for a credit card or line-of-credit. A home purchase is most likely the single largest investment you will ever make. For that reason, you want to be aware of anything that might affect your mortgage… Read More
USDA Mortgage Loan vs Conventional Fixed Mortgage Loan: How To Choose
The USDA mortgage loan program is one of the best-kept secrets in the home buying market today. This zero-down, 100 percent financing home loan is sponsored by the United States Department of Agriculture to promote homeownership in less-dense communities across the U.S. Often known as the USDA Rural Development Loan (RD Loan) or Rural Housing… Read More
6 Advantages of Using a Local Mortgage Lender
Local lending with community banks makes sense when you want personal service, knowledgeable lenders and local decisions – which makes the process go smoother for you. Working with Chelsea State Bank you get the advantage of a lender with local knowledge of home values; greater flexibility; understanding of the local economy; decision making done locally;… Read More
10 Factors That Qualify You For A USDA Mortgage Loan in Michigan
Some of the criteria that qualify you for a USDA mortgage loan in Michigan include — income, down payment, credit scores, and more. Getting a USDA loan is not much different than getting a conventional mortgage. Here are 10 factors that can impact your loan approval. 1. Community Bank Approval with USDA USDA is a… Read More
CSB’s Jim Wolfington presented with Community Spirit Award
Today, FHLBank Indianapolis awarded James (Jim) Wolfington, Vice President, Chelsea State Bank with the Community Spirit Award at the 2018 Building Michigan Communities Conference. The Community Spirit Award honors individuals that show an outstanding dedication to affordable housing and community economic development. In addition to the recognition, FHLBank Indianapolis will donate $1,000 to the charity… Read More
Chelsea State Bank Announces Executive Promotions
Chelsea, Mich., April 23, 2018 – The Board of Directors of Chelsea State Bank recently announced the promotions of Mary Lee Penney to Executive Vice President, Mark Burmis to Senior Vice President, Annette Houle to Vice President and Nancy Weir to Assistant Vice President. Penney was also elected to the Board of Directors of CSB… Read More
Getting Pre-Qualified for a Mortgage is Key to Buying Your Next Home
Know before you buy is good advice. When buying a home, it’s important to understand what you can afford. That’s why getting pre-qualified for a mortgage is the best way to start. A mortgage pre-qualification can be best described as a prediction on the amount you can borrow. There are many costs associated with buying… Read More
Don’t Get Tripped Up Out of the Gate: Have Your Mortgage Qualification Paperwork in Order
It’s not done until the paperwork is done. So true for a mortgage qualification process, too. Make sure you have the documents you need at the start to ensure that you get to final approval of your mortgage without a lot of hassles. Have it in-hand before talking to your community bank loan officer. At… Read More
Michigan Debt Consolidation Resources for 2018
Starting out any new year is always a good time for making commitments and resolutions. Many times we are successful, and at other times not so much. But it is important to keep trying to reach the desired goal. For example, if you are in debt, even if it is a little debt and struggling… Read More
Identity Theft Protection vs Data Breach Protection: What’s the Difference?
A data breach or credit hack is when your personal data might have been exposed. Identity theft occurs after a data breach when cyber criminals use stolen data to commit fraud in your name. Chelsea State Bank wants you to understand the differences between data breach protection and identity theft, so you can prevent some… Read More