Print PageCustomer Tips
****************
The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $100,000 per depositor and $250,000 for certain retirement accounts. If you have more than $100,000 at FMB, you can still be fully insured if your accounts meet certain requirements. Please click on the FDIC's Electronic Deposit Insurance Estimator link to determine your FDIC
coverage. http://www.fdic.gov/edie/ FMB is an FDIC insured institution.
FMB also offers you the ability to obtain additional FDIC insurance coverage by participating in the Certificate of Deposit Account Registry Service (CDARS). Please take a moment to visit the web site http://www.promnetwork.com/how-cdars-works-vid.html We invite you to contact Jessica Corley, FMB's Deposit Officer, at jcorley@fmbbank.com or 850-997-2591, for more information on how you can sign up for this service.
****************
Thinking of Refinancing?
Documentation needed for your Purchase / New Construction
Documentation needed for your Refinance
Thinking of Refinancing?
Here are Five Good Reasons to Refinance Your Mortgage.
1. Refinance Your Adjustable Rate Mortgage to a Fixed Interest Rate. Interest rates are rising. The Federal Reserve has raised short term interest rates at nearly every meeting for the past two years. If you are concerned how these interest rate hikes will affect your Adjustable Rate Mortgage, you should consider refinancing to a fixed interest rate mortgage.
2. Lower Your Mortgage Payment. If you need a lower monthly payment for your budget there are several ways to get it. If you qualify for a lower interest rate you can lower your payment amount by paying less interest. You can also lower your monthly payment by choosing a mortgage with a longer term length.
3. Eliminate Your Private Mortgage Insurance. If you are paying Private Mortgage Insurance you are basically throwing money away every month. There are laws in place to protect you that require mortgage lenders to automatically cancel your policy once you have built up the required amount of equity in your home; however, you may be able to drop it sooner by refinancing with a lender that will not require Private Mortgage Insurance.
4. Cash-Out Equity in Your Home. If you are in need of cash for any number of reasons, equity in your home is a source of low-interest credit. By refinancing your mortgage and taking cash back you can consolidate bills, pay for your child’s education, or renovate your home.
5. Get Better Loan Terms. If your current mortgage has a balloon payment or other unfavorable loan terms you can improve your financial situation by refinancing with a better lender. The mortgage industry is fiercely competitive; if you do your homework and negotiate for terms you can find a much better mortgage.
Back to Top
Documentation needed for your Purchase / New Construction
Income Documentation
Salaried Applicants:
-
Most recent thirty days of pay-stubs received
-
Previous two-years of W2 Forms (2007, 2006)
Self Employed, or Receive Commission, Rental, or Bonus Income
-
Two-years of most recent Personal Tax Returns with all schedules
Funds to Close and Cash Reserve Documentation
-
Last two bank statements (all pages) for all funds listed on application
If bank statement shows any large deposits, please document source of funds. -
Copy of Closing Statement from recently sold Real Estate
Purchases / New Construction / Renovations
-
Copy of Real Estate Contract on home (if you are purchasing a new home)
-
Copy of Construction Contract
-
Copy of Lot Contract if purchasing, or Warranty Deed if you already own the lot
-
Plans and Specifications
-
Architectural Control Committee Approval Letter (if required by your subdivision)
-
Appraisal Fee
Conventional Loans: $385.00
Investment Property: $425.00 -
Completed Uniform Residential Application
-
Please provide a copy of your Drivers License or other photo ID for compliance with the Patriot Act
Documentation needed for your Refinance
Income Documentation
Salaried Applicants:
-
Most recent thirty days of pay-stubs received
-
Previous two-years of W2 Forms (2007, 2006)
Self Employed, or Receive Commission, Rental, or Bonus Income
-
Two-years of most recent Personal Tax Returns with all schedules
Funds to Close and Cash Reserve Documentation
-
Last two bank statements (all pages) for all funds listed on application
If bank statement shows any large deposits, please document source of funds.
- Copy of your current Homeowners Insurance Policy Declaration Page, or Flood Policy if applicable
- Most recent mortgage balance statement(s)
- Credit Card Statement / Loan Statement of account(s) to be paid off
- Survey (Saves $350.00)
- Existing Title Insurance Policy (We will try to obtain a re-issue credit to save you money)
-
Appraisal Fee
Conventional Loans: $385.00
Investment Property: $425.00 -
Completed Uniform Residential Application
-
Please provide a copy of your Drivers License or other photo ID for compliance with the Patriot Act
