Banking Is Personal - Blog

Welcome to Banking is Personal. This blog is a place where Salin Bank hopes to give you information you can use. Our goal is to arm you with resources and knowledge about mortgages, wealth management, business lending and other banking-related issues that affect you and your financial objectives.


With Salin’s Pre-qual, You’ll Be Shouting “No Surprise”!

By Sally, Salin Bank blog team. Interviewed Senior Mortgage Consultant Lynne Coverdale on August 4, 2016

Sally:  Borrowers talk about getting “pre-qualified” or “pre-approved” for a mortgage.  Are those two essentially the same?
 
Lynne: No, the two terms were definitely not designed to mean the same thing.  What I find, and what I share with both consumers and Realtors™, though, is that different institutions tend to use the terms “pre-qualification” and “pre-approval” in different ways. The main idea, of course, is that both pre-qualification and pre-approval letters are ways to certify that a buyer can reasonably expect to qualify to borrow a particular amount of money towards the purchase of a home.

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Salin Takes The Personal Approach in the Fintech World

By Robin Walker, Salin Bank's Executive Vice President, Chief Administration Officer on July 26, 2016

“The media headlines charting fintech’s progress in just the past year might even have you think that the end of traditional bank models is here. But that assessment is dead wrong,” reports the Huffington Post. “Banks vs. fintech? No contest, banks win.” 
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Getting Pre-Qualified is a No-Brainer in a Seller’s Market

By Lynne Coverdale, Senior Mortgage Consultant, Salin Bank on July 5, 2016

It’s only a piece of paper, and that paper has power for only two to three months. Still, if you’re in the market to buy a home, a pre-qualification letter is a crucial initial step in the mortgage process. That piece of paper certifies to everyone concerned – home sellers, real estate agents, and yourself – that, based on your overall financial picture, you can expect to qualify to borrow a particular amount of money towards the purchase of a home.
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Picture You – A Smart Buyer in a Sellers' Market

By Lynne Coverdale, Senior Mortgage Consultant, Salin Bank on June 30, 2016

You’ve been looking for a new home to buy but can’t find one. Join the crowd. 
Of the ten tips on REALTORMag®’s 2016 home buyer to-do list, #1 is a “not-to-do” - “DON’T WAIT.” The supply of homes isn’t likely to increase significantly any time soon, and some aspects of home buying might become even more challenging in the not-so-distant future.
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The Mortgage Loan Doctor Is In for Physicians

By Tom Lannan, Senior Vice President, Mortgage Banking on June 22, 2016

Hefty student loan debt can often deter homeownership for individuals just starting their career. This is especially true for physicians and those in the medical field. According to the American Medical Association, more than 70 percent of physicians under the age of 40 have student loan debt and nearly half carry amounts ranging between $150,000 and $200,000. 
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