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Union State Bank Blog

STORM DAMAGE loan sale

 

We have special loan terms available for homeowners that have a storm damage claim to their home.  This is great news for you since deductibles for storm damage can run as high as $2,000.  Additionally, other repairs can be made that may not be fully covered as damages under your policy.  For example, your window fascia and trim were damaged and are covered, but this program allows you to replace the entire window unit, not just the fascia and trim, and you can roll the total into this loan provided the amounts remain within the plan limits.

 

Loan amounts are available from $2,500 to $5,000 with repayment terms up to 5 years.

 

 

Q

&

A

Will I need an appraisal on my home?

 

NO:  As long as the proceeds are used in conjunction with your insurance claim for necessary repairs, you qualify.

 

I already have two mortgages on my home, do I still qualify?

 

YES:  Regardless of mortgage position, Union State Bank has committed the funds to repair your home.

 

Will I need to have a 720 credit score like all the other specials we hear about?

 

NO:  This program only requires a credit score of 680.

 

Loan Amount $2,500 to $3,500

Loan rate 6.49% APR* (add 0.50% for no automatic payment)

Payment Example **

$3,500 for 3 years = $107.26 monthly payment

 

Loan Amount $3,501 to $5,000

Loan rate 5.49% APR* (add 0.50% for no automatic payment)

Payment Example**

$5,000 for 5 years = $95.48 monthly payment

 

*Annual Percentage Rate

** APR may increase for loan amounts less than the payment examples.

Qualification Requirements:  Minimum credit score of 680.  Maximum debt to income ratio 45% including proposed loan.  Must have valid insurance claim from insurance company.  Loan amount determined by deductible and non-covered additional repairs.  All additional repairs verified by licensed contractor's estimate.  Secured by real estate mortgage on subject home.  Auto pay from a checking or savings or a rate increase of .50% required.  Other third party expenses:  Title Search $50, Flood hazard determination $15, Recording fee $30.

 

For borrowers that do not qualify for this special program,

please contact Union State Bank to find out what other terms may be available.

 

Apply now! (complete application, print and return to any Union State Bank office)

 

Contact one of our Loan Officers

 

In Kewaunee, email Jim Lamack and Barbara Porath or call them at 920-388-3466.

In Green Bay, email Steve Mastalir or call him at 920-468-7000.

In Two Rivers email Steve Bloedel or David Eis or call them at 920-793-1551.

 

"Your Community Bank for over 100 Years"